Pricol Limited Rights Issue (Pricol Rights Issue) Detail

Incorporated in 2011, Pricol Limited is one of the leading manufacturers of automotive components in India, catering primarily to automotive OEMs (Original Equipment Manufacturers), both domestically and overseas. Pricol is a reputed global brand providing leading automobile and industrial brands with technology-intensive solutions in over 45 countries with more than 2000 product variants. Pricol's product portfolio consists of Driver information systems and sensors, pumps and allied products, telematics, and wiping system. Pricol's market share for driver information systems (that includes instrument clusters, speedometers, and pressure gauges) for commercial vehicles in India is 48.90%. Pricol products are used across various vehicle segments, including for two-wheelers, three-wheelers, four-wheeler passenger vehicles, light commercial vehicles, heavy commercial vehicles, and tractors. Pricol also caters to the construction equipment segment in the global market. As of Sep 2020, Pricol has seven manufacturing units spread across five states and two manufacturing facilities in Indonesia that offer best in class precision-engineered products. It has two international offices and also two DSIR (Department of Scientific and Industrial Research) registered research and development centers in Coimbatore. Company Strengths: • Diversified product portfolio. • Long-standing relationships with customers. • The strategic location of manufacturing units with backward integration. • The experienced and qualified management team. Company Strategies: • Focus on increasing customer base in India and other high-growth markets. • Constant enhancement of design, development, and testing capabilities to provide advanced and high value-added products. • To pursue strategic alliances and inorganic growth opportunities. • Increase capacity in existing product portfolio and enhance capacity utilization • Ensure efficiency and cost optimization and enhance innovation and design capabilities.

Objects of the Issue:

The Net Proceeds from the Issue are proposed to be utilized: 1. To meet the working capital requirements of the Company; and 2. General corporate purposes.