Shriram Pistons to invest ₹222 crore in Takahata Precision India | Mint
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Business News/ Companies / News/  Shriram Pistons to invest 222 crore in Takahata Precision India
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Shriram Pistons to invest ₹222 crore in Takahata Precision India

Recently, Shriram Pistons & Rings completed the acquisition of EMFI, manufacturers of electric vehicle motors and controllers based in Coimbatore, Tamil Nadu.

Shriram Pistons to invest ₹222 crore in Takahata Precision India. (Getty Images/iStockphoto)Premium
Shriram Pistons to invest 222 crore in Takahata Precision India. (Getty Images/iStockphoto)

Mumbai: SPR Engenious, a wholly-owned subsidiary Shriram Pistons & Rings, will acquire 75% stake in Takahata Precision India Pvt Ltd. (TPIL) at an enterprise value 222 crore, the company said on Thursday. 

The enterprise value will be computed as of the closing date at 222 crore, with adjustments for debt, debt-like items, and working capital. The companies plan to complete the acquisition by 31 May 2023, according to a stock exchange filing.

“......with this strategic investment, SPRL aims to diversify its product portfolio beyond the current pistons, rings, engine valves and EV components to precision plastic injection moulded parts. With the operations & technology support of Takahata Japan to TPIL, we will be able to service the domestic and global customers requiring precision moulded parts both for automotive & industrial applications," said Krishnakumar Srinivasan, managing director and chief executive, SPRL.

He added “this acquisition combines two strong, technology-led manufacturing teams, allied in their pursuit of excellence to deliver world class manufacturing and moulding technology, which will enhance relationships with existing customers while creating additional opportunities for growth and expansion."

Takahata Precision India is a subsidiary of Takahata Japan and has a manufacturing facility at Neemrana, Rajasthan.

Takahata Precision Co. Ltd., Japan (Takahata Japan), is a precision injection moulded parts manufacturer with a diverse product line in the automotive industry. Takahata Japan also manufactures industrial products and parts such as office automation equipment, optical equipment, residential facilities, medical equipment, and accurate measurement instruments.

Recently, Shriram Pistons & Rings completed the acquisition of EMFI, manufacturers of electric vehicle motors and controllers based in Coimbatore, Tamil Nadu.

Today, shares of Shriram Pistons & Rings ended 0.25% lower at 1,301 apiece on the National Stock Exchange .

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Published: 09 Feb 2023, 04:19 PM IST
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