Gabriel India has confirmed the successful fulfillment of all First Tranche Conditions Precedent related to its Joint Venture (JV) with SK Enmove Co., Ltd (now SK On Co., Ltd). Equity shares in the newly incorporated ‘SK Enmove Gabriel India Private Limited’ (JV Co.) have been allotted in the agreed 51:49 ratio. The date of fulfillment, February 27, 2026, is now confirmed as the First Tranche Long Stop Date. Several ancillary agreements supporting the JV’s operations were also executed.
Joint Venture Update Confirmed
Gabriel India Limited has issued a material update regarding its ongoing collaboration with SK Enmove Co., Ltd., which has transitioned to SK On Co., Ltd. following a merger.
The company confirmed that the equity shares for the Joint Venture Company, named “SK Enmove Gabriel India Private Limited” (JV Co.), were allotted today, February 27, 2026. The allotment reflects the agreed shareholding ratio of 51:49 in favor of SK On Co., Ltd. and Gabriel India Limited, respectively.
This date, February 27, 2026, is formally designated as the First Tranche Long Stop Date, marking the conclusion of the initial phase of conditions precedent.
Ancillary Agreements Executed
To facilitate the operational commencement of the JV, several critical supporting agreements have been executed concurrently:
- Technology License Agreement (“TLA”): Executed between SK On Co., Ltd and JV Co. to secure technological information and assistance from SKEN.
- Corporate Service Agreement (“CSA”): Executed between Anand Automotive Private Limited (“AAPL”) and JV Co. for operational and management support.
- Trademark License Agreement: A ZIC Trademark Brand License Agreement was finalized between SK On Co., Ltd and JV Co. to allow the use of the ‘ZIC’ trademark.
- Business Transfer Agreement (“BTA”): This agreement formalizes the acquisition of the existing business of SK Enmove India Private Limited (“SKEN India”) by the JV Co.
- Joinder Agreement: Finalized between SK On Co., Ltd, Gabriel India, and JV Co. to officially accession the JV Co. to the terms and conditions of the primary Joint Venture Agreement (JVA).
These final steps ensure comprehensive support and framework for the newly structured automotive components venture.
Source: BSE
