Board of Pricol approves acquisition of plastic component division of Sundaram Auto Components

The Board of Pricol at its meeting held on 02 December 2024 has approved the proposal for acquisition of injection moulded plastic component solutions division of Sundaram Auto Components, a wholly owned subsidiary of TVS Motor Company by Pricol Precision Products Private (wholly owned subsidiary of the Company) on a slump sale basis.

The Board has approved investment in Pricol Precision Products upto an amount of Rs. 120 crore in one or more tranches.

Further, the Board has approved to provide Corporate Guarantee for any loans to be obtained by Pricol Precision Products upto an amount not exceeding Rs. 250 crore.

The Board has approved the proposal for investing upto 26% of equity capital of PQSI Digital, a company which is in the business of Industry 4.0 products, in more than one tranches.