TGPEL Precision to be acquired Shriram Pistons & Rings
Shriram Pistons & Rings Ltd (SPRL) is set to acquire a 100 percent stake in TGPEL Precision Engineering, with an enterprise value of Rs 220 crore, on a debt-free, cash-free basis. This deal is subject to regulatory approvals and is expected to be completed this month.
This acquisition would expand the firm's manufacturing capabilities in high-precision injection-molded components and diversify its product portfolio beyond internal combustion engine powertrains. TGPEL has two facilities in Noida that serve the automotive, electrical, consumer goods, and medical sectors.
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