Tech Mahindra’s Pininfarina Raises Stake in Signature to 84%, Makes It a Subsidiary

Tech Mahindra Ltd. on August 14, 2025, announced that Pininfarina S.p.A., its step-down subsidiary, has increased its stake in Italian stationery firm Signature S.r.l. from 24% to 84%, making it a subsidiary of Pininfarina and a step-down subsidiary of Tech Mahindra.

Tech Mahindra stated that the acquisition aims to strengthen Pininfarina’s presence in the consumer channel and further enhance the Pininfarina brand. The transaction was conducted on an arm’s length basis and qualifies as a related-party transaction. No governmental or regulatory approvals were required. Signature continues to operate from Italy.

The acquisition was completed through a cash transaction valued at EUR 134,375, comprising EUR 1,875 for subscription of new shares and EUR 132,500 for purchase of additional shares from existing shareholders. The deal involved acquiring an additional 60% equity stake.

Signature, incorporated in December 2017 as a joint venture with Napkin Forever, operates in the retail and consumer sector, focusing on stationery products. For the year ended December 31, 2024, its audited turnover stood at EUR 2.9 million, compared with EUR 2.3 million in 2023 and EUR 2.7 million in 2022.

Pininfarina S.p.A. is an Italy-based design and engineering company best known for its work in automotive design, industrial design, architecture, and luxury product development. Founded in 1930, it has collaborated with leading global brands, particularly in the high-end automotive sector, while also diversifying into consumer goods, transportation, and architectural projects. In 2015, Tech Mahindra acquired a controlling stake in Pininfarina, integrating its design expertise into the group’s global technology and engineering services portfolio.

Signature S.r.l. is an Italian stationery company incorporated in December 2017 as a joint venture with Napkin Forever. Operating in the retail and consumer sector, it specializes in premium writing instruments and stationery products that combine traditional craftsmanship with innovative design. The company has steadily grown its market presence, reporting a turnover of EUR 2.9 million in 2024, up from EUR 2.3 million in 2023.