Luthra And Luthra Acts For Shriram Pistons & Rings Limited And Its Subsidiary SPR Engenious Limited
The Firm advised Shriram Pistons & Rings Limited (SPRL) and its subsidiary SPR Engenious Limited (SEL) in undertaking due diligence and drafting, negotiating, and finalising transaction documents for the proposed acquisition by SEL of 75% shareholding in Takahata Precision India Private Limited from Takahata Precision Co. Ltd. and Takahata Precision Pte. Ltd. at an enterprise value of INR 222 crores.
With the proposed acquisition, SPRL aims to diversify its product portfolio beyond the current pistons, rings, engine valves and EV components to precision plastic injection moulded parts, for automotive and industrial applications. As per Mr. Krishnakumar Srinivasan, Managing Director and CEO of SPRL “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.”
The transaction team was led by Partners, Navin Syiem and Sarika Raichur and ably assisted by Senior Associate, Sidhartha Jatar and Associates Shaurya Jakher and Ruthvik Tumuluri. Partner Vipin Sharma, Managing Associate Shruti Barua and Associate Prashasti Srivastav assisted with the due diligence on the transaction.