Pricol has received an approval for divestment of wiping business division of the Company to Auto Ignition on a slump sale basis. The Board of Directors of the Company at their meeting held on January 2, 2025 has approved the same.
The Business Transfer Agreement was executed on January 2, 2025. Subject to satisfaction of conditions precedent identified under the business transfer agreement, the transaction is expected to be completed by January 31, 2025 (or) any other date mutually agreed between parties. The consideration for the Proposed Transaction is Rs 20 crore, subject to adjustments set out in the Business Transfer Agreement.
Pricol is engaged in the business of manufacturing and selling of Instrument clusters and other allied automobile components to Original Equipment Manufacturers (OEM) and replacement markets.
