Shriram Pistons & Rings Limited — JV/Acquisition, 24-12-2024: Acquisition

SPR Engenious Limited (SEL), a wholly owned subsidiary of Shriram Pistons & Rings Limited (SPRL), has acquired 100% shareholding in TGPEL Precision Engineering Limited for INR 2176.3 Mn (INR 54.98 per share). This strategic acquisition aims to enhance SPRL's capabilities in precision tooling by leveraging TGPEL's expertise in manufacturing precision-engineered plastic components, which aligns with SEL’s growth strategy in non-ICE automotive sectors. TGPEL, established in 1992, has a solid revenue trajectory with INR 1183 Mn in FY 2023-24. This move is anticipated to strengthen SPRL’s operational synergies and market positioning.