Shriram Pistons & Rings Limited — JV/Acquisition, 07-03-2025: Acquisition

Shriram Pistons & Rings Limited (SPRL) is set to acquire 100% shareholding in Karna Intertech Private Limited for INR 50 Mn. Karna, a supplier of gravity die casting moulds essential for SPRL's piston manufacturing, recorded a revenue of INR 49.98 Mn in FY 2023-24. This acquisition aims to leverage operational synergies and ensure high-quality mould production, further aligning with SPRL’s long-term growth strategy. The transaction is expected to close by April 15, 2025, subject to customary conditions, positioning SPRL to enhance its competitiveness in the market.