The DICVS business, which focuses on smart mobility and integrated electronic solutions, offering products such as Driver Information Systems (including connected instrument clusters), integrated infotainment systems, advanced e-cockpit solutions, connectivity solutions such as telematics, battery management systems, and fuel level sensors.
Post the demerger, Pricol will continue to focus on its Actuation, Control and Fluid Management Systems (‘ACFMS’) and Precision Products (‘P3L’) businesses.
ACFMS business is supported by growing domestic and export footprints and opportunities in fluid management and control solutions, while the P3L business is strategically positioned to capitalise on the expanding opportunity in precision components, the company said in a statement.
The proposed restructuring will create two distinct listed companies – an automotive technology entity and an automotive & industrial precision engineering entity – simplifying the group’s corporate structure, it added.
It will enable each business to sharpen its strategic focus, accelerate innovation, and respond more effectively to evolving customer requirements, dynamic market realities and fast-changing technology trends through dedicated management teams and independent capital allocation frameworks, Pricol said.
Shareholders of Pricol Ltd will receive one fully paid-up equity share of Pricol Autotech Ltd for every one fully paid-up equity share held in Pricol Ltd.
“The proposed demerger marks an important milestone in Pricol’s growth journey. Over the years, our businesses have evolved into strong and differentiated platforms with distinct customer needs, technology priorities, capital requirements and growth opportunities,” Vikram Mohan, Chairman & Managing Director, Pricol said in a statement.
“We believe this is the right time for each business to operate independently with dedicated leadership, sharper strategic focus and greater operational agility. We are confident that the proposed demerger will strengthen our competitive position and create sustainable long-term value for all our stakeholders,” he added.
