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Pricol promoters sell stake in Autotech to Warburg Pincus

Positive+663 sources

GreyOak summary

Pricol Ltd's board approved a scheme to demerge its Driver Information and Connected Vehicle Solutions business into a new entity, Pricol Autotech. Promoters will sell their entire 38.51% stake in the new auto-component manufacturer to Warburg Pincus for up to ₹1,663.07 crore. Following the demerger and listing on NSE and BSE, Warburg Pincus will make a mandatory open offer for an additional 26% stake.

What it affects

  • PricolPRICOLLTDPositive +66

    Approves demerger of DICVS business into new entity.Rolling sentiment Positive +41

Source

Read the original at CNBC-TV18

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