Pricol files complaint with CCI over Minda's stake acquisition

23 May 2023 CW Team

Coimbatore-based auto component manufacturer Pricol has lodged a complaint with the Competition Commission of India (CCI) regarding rival company Minda Corporation's purchase of a 24.5% stake in Pricol. The conflict between the two companies began in February when Minda acquired 15.7% of Pricol through an open market deal worth Rs 4 billion. Earlier this month, Minda sought CCI's approval to acquire an additional 24.5% stake in Pricol.

Pricol has filed a preliminary objection against Minda's application with the CCI, reserving the right to challenge the move on its merits at a later stage. Reports indicate that Pricol holds a 40% market share for two-wheeler instrument clusters, while Minda holds a 15% share. In February, Minda purchased 19.1 million shares of Pricol for Rs 4 billion, without requiring prior permissions due to it being an open-market transaction.

The move was expected to strengthen Minda's position in the dashboard instruments market. However, Pricol's promoter group, owning 36.53% of the company, claimed to be unaware of the purchase and expressed no intentions to sell a secondary interest or raise capital. The company emphasised its resistance to any aggressive takeover attempts by Minda. Currently, the public holds a 63.47% share in Pricol.

Pricol is a leading manufacturer of dashboard instruments, producing driver information systems, sensors, pumps, telematics, and wiping systems for various automotive original equipment manufacturers in India and international markets, serving two or three-wheelers, passenger vehicles, commercial vehicles, farm equipment, and offroad vehicles.

Infrastructure Urban

14 Oct 2025

DRI Introduces Advanced Fresh Air Solutions for Large Buildings

DRI has unveiled its latest solutions for indoor air quality (IAQ) and energy-efficient ventilation in large enclosed buildings: the Treated Fresh Air Handling Units (TFA) and Dedicated Outdoor Air Systems (DOAS). The TFA units integrate EcoFresh Molecular Sieve Coated Heat Wheels to deliver optimal IAQ while promoting energy savings. The modular design allows additional functions such as cooling, heating, humidification, high-efficiency filtration, mixing, and sound attenuation. Maintenance is minimal, with standard filters and fan assemblies designed for reliability and ease of service. TFA..

Dia Mirza-backed Without® Launches FOAK Recycling Plant in Pune

Without®, an impact-first deep-tech material science enterprise, has inaugurated its first-of-a-kind (FOAK) recycling demonstration plant in Pune. The 1,030 sq. m facility can process up to 5 tons per month of “unrecyclable” plastic waste, offering end-to-end operations from material intake and separation to chemical transformation, purification, product manufacturing, and quality testing. The demonstration plant serves as a precursor to a commercial facility planned for next year. The launch follows the successful closure of a $1.9 million (approx. Rs 16.8 crore) seed funding round led ..

Capital India Home Loans Rebrands as People Home Finance

"Capital India Home Loans, a wholly owned subsidiary of Weaver Services, has announced its rebranding to People Home Finance Limited, underscoring its vision to build an inclusive, technology-led housing finance company serving India’s vast informal and self-employed segment. The rebranding follows the company’s $170 million investment round announced on 19 August 2025, led by Lightspeed, Premji Invest, and Gaja Capital. The new identity marks the next phase of expansion across Tier 2 and Tier 3 cities, with continued investments in branch infrastructure, people, proprietary technology, a..