Pricol Ltd Board Approves Sale of 38.51% Stake in Pricol Autotech

Pricol Limited's Board of Directors has approved the execution of a Share Purchase Agreement for the sale of an aggregate of 4,69,34,833 equity shares, representing 38.51% of Pricol Autotech's paid-up equity share capital, to Topaz Terrace Investments (an affiliate of Warburg Pincus LLC). This transaction is part of a larger scheme of demerger where Pricol Autotech will acquire Pricol Ltd's Driver Information & Connected Vehicle Solutions (DICVS) Business. The sale is contingent upon the demerger scheme becoming effective, the listing of Pricol Autotech shares, and the completion of an open offer by the acquirer, along with regulatory approvals.