On December 24, 2024, Shriram Pistons & Rings Limited (SPRL) successfully acquired 100% shareholding in TGPEL Precision Engineering Limited (TGPEL) through its wholly-owned subsidiary SPR Engenious Limited (SEL). The acquisition is valued at INR 2176.3 million, with SEL purchasing equity shares from existing shareholders at a price of INR 54.98 per share.
TGPEL, a leading manufacturer of precision engineered plastic components, has been recognized for its end-to-end solutions in mould conceptualization, design, and production. Established in 1992 and previously known as Timex Group Precision Engineering Limited, TGPEL fits well into SPRL’s strategy for inorganic growth in the commercial and industrial sector, especially in areas independent of internal combustion engine (ICE) components.
The acquisition will further expand SPRL’s business, positioning it strategically in the manufacturing of high-precision plastic injection moulded components and product assembly for the automotive and industrial sectors.
