Pricol divests 49% stake in JV with Japan’s Denso Corporation

June 2, 2024

NEW DELHI: Auto components company Pricolllll today said it has transferred its 49 percent stake in a joint venture with Densoo Corporation to its Japanese partner for Rs 200 crore. Pricol Ltd in a filing to the BSE “In a filing,” the filing said Pricol Ltd Denso has come to Pricol India Pvt Ltd 49% stake sold to Japan’s Denso Corporation for Rs 2 for Rs 1 crore. ”

After the said sale, Denso Pricol India became a wholly owned subsidiary of Nippon Denso Corporation Ltd.

The company also stated that Denso Corporation is not a part of Pricol Ltd part of the promoter/promoter group/group of companies.

Pricol shares closed at Rs 32.80 per share on the BSE, up 3.14% from the previous close.

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