Shriram Pistons and Rings Ltd Expands with TGPEL Acquisition

Shriram Pistons & Rings Ltd is set to acquire TGPEL Precision Engineering for Rs 220 crore, enhancing its position in automotive manufacturing. The acquisition aligns with SPRL's strategy to diversify its product portfolio beyond internal combustion engine powertrains.

Shriram Pistons & Rings Ltd (SPRL) has announced its intention to acquire a 100% stake in TGPEL Precision Engineering. The acquisition is valued at Rs 220 crore on a debt-free, cash-free basis and is subject to regulatory approvals, expected to conclude this month.

This move is part of SPRL's long-term strategy to diversify its offerings beyond internal combustion engine powertrains. The acquisition aims to consolidate and enhance the company's position in manufacturing high-precision injection moulded components within the automotive sector.

TGPEL, formerly Timex Group Precision Engineering Limited, is recognized for producing precision moulds and injection moulded parts, serving automotive, electrical, consumer goods, and medical sectors in India and internationally. Established in 2008, TGPEL operates two manufacturing facilities in Noida, Uttar Pradesh.

(With inputs from agencies.)