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SPR Engenious Limited (SEL), a wholly owned subsidiary of Shriram Pistons & Rings Limited (SPRL), will acquire 100% shareholding in TGPEL Precision Engineering Limited for an enterprise value of INR 2200 Mn. This strategic acquisition aims to enhance SPRL’s capabilities in the precision-engineered components sector, specifically targeting high precision injection moulding. TGPEL, a seasoned player in the market, logged revenues of INR 1183 Mn for FY 2023-24 and is expected to provide synergies to SPRL's existing operations, further solidifying its position in the automotive industry. The deal is projected to close by the end of December 2024.