Pricol Limited’s Board of Directors has approved the execution of a share purchase agreement with Topaz Terrace Investments, an affiliate of Warburg Pincus. This agreement facilitates the sale of 4,69,34,833 equity shares, representing 38.51% of Pricol Autotech’s paid-up equity share capital, to the Acquirer. This transaction is part of a larger demerger plan for Pricol’s Driver Information & Connected Vehicle Solutions (DICVS) business into Pricol Autotech.
Pricol Autotech Stake Sale Approved
Pricol Limited has announced significant corporate developments following a Board of Directors meeting held on 13 November 2026. The board has approved the execution of a Share Purchase Agreement with Topaz Terrace Investments, an affiliate entity of Warburg Pincus LLC, identified as the ‘Acquirer’.
Transaction Details
The agreement pertains to the proposed sale of an aggregate of 4,69,34,833 equity shares of Pricol Autotech Limited. This quantity represents 38.51% of the fully diluted paid-up equity share capital of Pricol Autotech. These shares are to be collectively held by the ‘Sellers’, comprising members of the promoter and promoter group of Pricol Limited, including Mr. Vijay Mohan, Mr. Vikram Mohan, Mrs. Vanitha Mohan, Mr. Viren Mohan, Ms. Manasa Mohan, Ms. Madhura Mohan, and associated entities like Pricol Holdings Private Limited.
Strategic Demerger Context
This share sale is intrinsically linked to the previously approved Scheme of Demerger between Pricol Limited and Pricol Autotech Limited, sanctioned on 27 June 2026. The scheme involves demerging Pricol’s Driver Information & Connected Vehicle Solutions (DICVS) business into Pricol Autotech. In consideration for the demerger, 1 fully paid-up equity share of Pricol Autotech will be issued for every 1 fully paid-up equity share of Pricol Limited held by its shareholders.
Acquirer and Sellers
The Acquirer, Topaz Terrace Investments B.V., is a company incorporated under the laws of The Netherlands and is not related to Pricol Limited. The Sellers are identified as key members of the promoter and promoter group of Pricol Limited and related corporate entities.
Pricol Autotech’s Future
Pricol Autotech, which was incorporated on 21 February 2026, is set to become an independent listed company post-demerger. It will house the DICVS business, a significant contributor to Pricol’s revenue, reporting approximately INR 2,400 crore in revenue in FY26, accounting for about 60% of Pricol’s consolidated revenue. The transaction is expected to facilitate Pricol Autotech’s growth and expansion in the automotive electronics sector, supported by Warburg Pincus’s investment approach and expertise.
Impact on Pricol Limited
The Actuation, Control and Fluid Management Systems (ACFMS) business and the Polymer business will continue to operate under Pricol Limited and its subsidiary, Pricol Precision Products Private Limited, respectively. These businesses will remain under the ownership and management of the Mohan family. The transaction is not expected to impact the management and control of Pricol Limited itself, although the Acquirer will gain control of Pricol Autotech.
Transaction Timeline and Approvals
The Proposed Transaction’s completion is contingent upon the effectiveness of the Scheme of Demerger, the listing of Pricol Autotech’s equity shares, the expiry of the mandatory open offer period by the Acquirer, and the fulfillment of other conditions precedent, including approval from the Competition Commission of India.
Source: BSE
