Pricol Limited and global private equity firm Warburg Pincus have entered into definitive agreements for the latter to acquire the promoter group’s entire 38.51% stake in Pricol Autotech Limited, which will house Pricol’s Driver Information and Connected Vehicle Solutions (DICVS) business. The DICVS business reported revenue of around Rs 2,400 crore in FY26, accounting for approximately 60% of Pricol’s consolidated revenue.
Pricol had announced the proposed demerger of its Driver Information and Connected Vehicle Solutions (DICVS) business into Pricol Autotech on 27 June 2026. Once the scheme takes effect, Pricol Autotech is expected to be listed on the NSE and BSE.
Following the listing, Warburg Pincus will acquire the Mohan family promoters’ 38.51% holding in Pricol Autotech and launch a mandatory open offer to public shareholders. The open offer will cover up to an additional 26% of the company’s share capital. Upon completion of the transaction, Warburg Pincus will become Pricol Autotech’s largest shareholder.
Pricol Autotech will house the DICVS business, which manufactures driver information systems and automotive electronics, including instrument clusters, telematics, sensors and e-cockpit solutions. The business supplies original equipment manufacturers (OEMs) across two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and off-highway segments.
The DICVS business reported revenue of approximately Rs 2,400 crore in FY26, accounting for around 60% of Pricol’s consolidated revenue. Its separation into an independent listed entity is intended to provide the business with a dedicated platform to pursue growth opportunities in India and international markets.
The transaction marks a change in ownership for Pricol’s automotive electronics business, while the promoter family will retain control of the remaining operations. Following the demerger, Pricol Limited will continue to operate its Actuation, Control and Fluid Management Systems (ACFMS) business. Its polymer products business will operate through wholly owned subsidiary Pricol Precision Products Private Limited. Both businesses will remain under the ownership and management of the Mohan family, with no change in their shareholding.
Vikram Mohan, Chairman and Managing Director of Pricol Limited, said the demerger would provide Pricol Autotech with greater focus and independence to pursue its growth plans. He said Warburg Pincus’ automotive sector experience, resources and international network would support the business in its next phase. Pricol Limited, meanwhile, will continue to focus on developing its retained businesses.
Anish Saraf, Managing Director at Warburg Pincus, said the investment would build on Pricol Autotech’s existing OEM relationships, engineering capabilities and product development strengths. He added that the firm would work with the management and employees to support the company’s long-term plans and expand its presence in domestic and international markets.
Swapnil Sinha, Managing Director at Warburg Pincus, said automotive electronics presented investment opportunities as vehicle technologies become more sophisticated. The firm plans to support Pricol Autotech through investments in technology and talent, expansion of capabilities and customer relationships, and strategic acquisitions.
Warburg Pincus said the transaction would support the evolution of Pricol Autotech into a broader automotive electronics business. The company’s product portfolio and customer base across multiple vehicle segments are expected to provide a platform for expansion.