Shriram Pistons & Rings Ltd

BSE: 544344 | NSE: SHRIPISTON
Small Cap | Auto Ancillary
3082.75
29.85 (0.98%)
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Shriram Pistons & Rings gets nod to acquire 75% stake in Takahata Precision India

Date: 09-02-2023

Shriram Pistons & Rings (SPRL) has received approval from Board of Directors to acquire 75% shareholding in Takahata Precision India through its wholly owned subsidiary, SPR Engenious (SEL). In order to meet the Company’s vision for diversification and growth in areas agnostic to Powertrain, Shriram Pistons & Rings has taken a strategic call to diversify its existing product portfolio into the new areas in automotive and other Industrial segment. This will mark SPRL’s foray into the manufacturing of the precision injection moulded components.

Recently SPRL had also completed the acquisition of EMFI, manufacturers of Electric Vehicle Motors & Controllers based at Coimbatore, Tamil Nadu (India). The Board of Director at its meeting held on February 8, 2023, has approved the same.

Shriram Pistons & Rings (SPR) is the largest manufacturer and exporter of Pistons and Rings from India to discerning customers, including Ford, Honda, Kia, Renault, WABCO and has the 'Trading House' status from Government of India. It is also largest supplier of Engine Valves.