Joint Venture27 Feb 2026, 10:51 pm
Gabriel India Ltd. Fulfills First Tranche Conditions Precedent in Joint Venture with SK On Co., Ltd
AI Summary
Gabriel India Ltd. has announced the fulfillment of First Tranche Conditions Precedent in the joint venture with SK On Co., Ltd. The joint venture company, SK Enmove Gabriel India Private Limited, has allotted equity shares to SK On Co., Ltd and Gabriel India Limited in a 51:49 ratio, respectively. The First Tranche Long Stop Date is set for February 27, 2026. Additionally, several agreements have been executed, including a Technology License Agreement, Corporate Service Agreement, ZIC Trademark Brand License Agreement, Business Transfer Agreement, and Joinder Agreement.
Key Highlights
- Gabriel India Ltd. and SK On Co., Ltd. have fulfilled the First Tranche Conditions Precedent in their joint venture.
- SK Enmove Gabriel India Private Limited has allotted equity shares to SK On Co., Ltd and Gabriel India Limited in a 51:49 ratio.
- The First Tranche Long Stop Date is set for February 27, 2026.
- Several agreements have been executed, including a Technology License Agreement, Corporate Service Agreement, ZIC Trademark Brand License Agreement, Business Transfer Agreement, and Joinder Agreement.
- The joint venture company, SK Enmove Gabriel India Private Limited, has been incorporated.