Pricol Ltd, an Indian automotive technology and precision components manufacturer, has entered into definitive agreements with Warburg Pincus for the sale of the entire 38.51% shareholding in Pricol Autotech Ltd for ₹1,663 crore, following the proposed demerger of its Driver Information & Connected Vehicle Solutions (DICVS) business.
The transaction involves members of the promoter and promoter group, including Vijay Mohan, Vikram Mohan, Vanitha Mohan, Viren Mohan, Manasa Mohan and Madhura Mohan, along with Pricol Holdings Pvt Ltd, Pricol Engineering Industries Pvt Ltd, Shrimay Enterprises Pvt Ltd and Pricol Logistics Pvt Ltd.
Warburg Pincus to acquire stake
The acquirer is Topaz Terrace Investments B.V., an affiliate of Warburg Pincus LLC incorporated in the Netherlands. It is not part of Pricol’s promoter group or group companies.
Following completion of the demerger and listing of Pricol Autotech on the NSE and BSE, Warburg Pincus will launch a mandatory open offer to the company’s public shareholders in accordance with SEBI regulations.
DICVS business to move into Pricol Autotech
The demerger scheme, approved by Pricol’s board on June 27, 2026, will transfer the DICVS business to Pricol Autotech. The business provides driver information systems and automotive electronics, including instrument clusters, telematics, sensors and e-cockpit solutions.
It serves original equipment manufacturers across two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and off-highway segments. The DICVS business reported revenue of approximately ₹2,400 crore in FY26, accounting for around 60% of Pricol’s consolidated revenue.
Other businesses remain with promoters
Following the demerger, Pricol Ltd will continue to house its Actuation, Control and Fluid Management Systems (ACFMS) business. The Polymer business will operate through its wholly owned subsidiary, Pricol Precision Products Pvt Ltd.
Both businesses will remain under the ownership and management of the Mohan family, with no change in the promoter group’s shareholding in them.
Warburg sees opportunity in automotive electronics
“The proposed demerger will give Pricol Autotech the focus and independence to realise its full potential,” Pricol Ltd, Chairman and Managing Director, Vikram Mohan, said.
“We recognise the responsibility that comes with building on this legacy,” Warburg Pincus, Managing Director, Anish Saraf, said.
India focus
“The automotive components sector has for long been an area of focus for Warburg Pincus in India. We see compelling opportunities in automotive electronics as vehicle technology becomes increasingly sophisticated,” Warburg Pincus, Managing Director, Swapnil Sinha, said.
The firm aims to support Pricol Autotech through investments in technology and talent, expansion of capabilities and customer relationships, and strategic acquisitions.
The proposed transaction marks a new phase for the DICVS business, which has been built over five decades, as it prepares to operate as a separately listed automotive electronics company.