Pricol has sold its 49% of shareholding in DENSO Pricol India (DPIN) to DENSO Corporation, Japan on March 17, 2015 for a consideration of Rs 20 crore. Subsequent to the aforesaid sale DPIN became the wholly owned subsidiary company of DENSO Corporation, Japan.
The above step has been taken as per the Share Purchase and JV Termination Agreement dated March 17, 2015 entered between DENSO Corporation, Japan and Pricol. DENSO Corporation, Japan does not belong to promoter / promoter group / group companies of Pricol.
Pricol is engaged in the manufacture and export of a complete range of automotive components starting from instrument clusters, dashboard meters, fuel sensors, oil pressure switches, speedometer drive cables, fuel cut off valve, filter suction, etc.