The Board of Directors of Gabriel India has approved a composite scheme of arrangement involving, inter alia, Gabriel India, Asia Investments (AIPL), and Anchemco India (formerly known as Andasia) (Anchemco).
This Scheme will result into vesting of automotive business undertaking of AIPL comprising of business of Anchemco (engaged in manufacturing of brake fluids, radiator coolants, diesel exhaust fluid (DEF) / ad-blue, and PU/ PVC based adhesives) and investments in Dana Anand India (Dana), Henkel ANAND India (Henkel) and ANAND CY Myutec Automotive (ACYM) (Demerged Undertaking) into Gabriel.
Gabriel will issue 1,158 equity Shares of Rs 1 each for every 1,000 equity shares of Rs 10 each held in AIPL to the shareholders of AIPL.
This Scheme will consolidate the business of the Demerged Undertaking of AIPL in automotive components and products like drive train products including transmissions for EVs, Body in White and NVH Products and solutions, brass and steel synchroniser rings, aluminum forgings, brake fluids, radiator coolants and diesel exhaust fluids (DEF) / Ad-Blue for 2W, 3W and 4W vehicles and trucks and PU and PVC based adhesives into Gabriel. This inclusion, together with the recently added sunroof business, will transform Gabriel from a mono-product suspension company into a diversified, technology-driven mobility solutions provider, and reducing the dependency on a single product line by expansion into new segments, geographies, the aftermarket product range, and railways product range.
This arrangement will propel Gabriel to position itself as a preferred global OEM partner, enhance its customer base, embrace futuristic cutting-edge technology and strengthen aftermarket presence through diverse product portfolio. The Scheme will accelerate profitable growth with better margins, creating substantial shareholder value through EPS accretion and higher return on equity.