Shriram Pistons Acquires Grupo Antolin Units for INR 16,700 Mn

Shriram Pistons & Rings Ltd (SPRL) has announced the acquisition of three companies from Grupo Antolin: Antolin Lighting India Private Limited, Grupo Antolin India Private Limited, and Grupo Antolin Chakan Private Limited. The acquisition involves a 100% stake in these entities, collectively referred to as the “Proposed Transaction.” The agreement was formalized through a Share Purchase Agreement with Grupo Antolin Irausa, S.A.U. and Grupo Antolin Ingenieria, S.A.U. The transaction is subject to the fulfillment of closing conditions as outlined in the agreement.

The total consideration for the acquisition is approximately INR 16,700 million, based on an aggregate Enterprise Value of Euro 159 million. SPRL will settle the transaction through cash payments. The purchase price per equity share will be finalized at closing, adjusted for debt, cash, and working capital changes. The acquisition includes 90,00,000 equity shares of Antolin Lighting India, 15,19,80,714 equity shares of Grupo Antolin India, and 5,08,03,874 equity shares of Grupo Antolin Chakan, with the latter being a subsidiary of Grupo Antolin India.

The acquired companies operate within the automotive interior solutions sector, providing products such as headliner substrates, door panels, and ambient lighting to major Original Equipment Manufacturers (OEMs) across India. This acquisition aligns with SPRL’s strategic objectives to expand its presence in the automotive components industry and diversify its product offerings beyond powertrain technologies. A Technology Licensing Agreement with Grupo Antolin will ensure continued access to advanced technologies for new product development.

The transaction is anticipated to be completed by January 2, 2026, contingent upon the satisfaction of the conditions set forth in the Share Purchase Agreement. This timeline may be adjusted subject to mutual agreement between SPRL and the sellers. No governmental or regulatory approvals are required for the completion of this acquisition.

The parties involved in this transaction include SPRL as the acquirer and Grupo Antolin Irausa, S.A.U. and Grupo Antolin Ingenieria, S.A.U. as the sellers. The transaction does not constitute a related party transaction, and no interests from the promoter or promoter group of SPRL are involved in the entities being acquired.

The acquisition of these companies is significant within the context of the automotive industry, as it allows SPRL to enhance its capabilities and expand its market presence in the automotive interior solutions sector. The acquired entities have demonstrated consistent revenue growth, with Grupo Antolin India reporting a revenue of INR 7,159 million for FY 2024-25. This strategic move is expected to position SPRL more competitively within the industry.

Shriram Pistons & Rings Ltd is a leading manufacturer of pistons, piston rings, and engine valves. The company focuses on expanding its product portfolio and enhancing its market presence in the automotive components sector. Through strategic acquisitions and partnerships, SPRL aims to deliver innovative solutions and create long-term value for its stakeholders.