Shriram Pistons & Rings has officially extended its Asset Purchase Agreement with Sunbeam Lightweighting Solutions Limited until June 30, 2026, as per regulatory filing dated March 27, 2026. The company has provided detailed updates on its ₹28 crore piston plant acquisition, structured as a multi-tranche transaction.

Extended Asset Purchase Agreement

The company has amended its original Asset Purchase Agreement with Sunbeam Lightweighting Solutions Limited, extending the long stop date from March 31, 2026 to June 30, 2026. This extension allows for completion of the proposed transaction in multiple tranches with better timeline management.

₹28 Crore Transaction Structure

The total consideration for the proposed transaction across all tranches amounts to ₹28 crore, exclusive of applicable GST. The payment structure demonstrates a phased approach with specific milestones already achieved.

Transaction Progress and Timeline

The first tranche of the proposed transaction was completed on December 31, 2025, with the seller receiving ₹10 crore for certain identified plant and machinery. The remaining identified assets forming part of piston manufacturing lines are expected to be transferred in one or more tranches by June 30, 2026.

Strategic Business Rationale

According to the regulatory filing, the asset purchase agreement relates to identified plant and machinery and related books and records forming part of piston manufacturing line. The objective is to strengthen and expand the company's existing piston manufacturing operations, enhance manufacturing capacity, and improve operational efficiencies. The transaction is conducted on an arm's length basis with no related party involvement.

Source: Company/INE526E01018/3472212b-f955-4b8e-8491-fa8f78df9afb.pdf

Shriram Pistons & Rings Limited has successfully completed its postal ballot process through remote e-voting, with shareholders approving three special resolutions with overwhelming majority. The company has disclosed that shareholders approved changing the company name from "Shriram Pistons & Rings Limited" to "SPR Auto Technologies Limited", subject to filing necessary forms with regulatory authorities.

Postal Ballot Process and Results

The postal ballot was conducted exclusively through remote e-voting, with Ms. Preeti Grover (FCS 5862) of PG & Associates, Company Secretaries serving as the appointed scrutinizer. The voting period commenced on February 11, 2026 at 9:00 a.m. IST and concluded on March 12, 2026 at 5:00 p.m. IST through NSDL's e-voting platform.

Resolution Results Summary

All three special resolutions were passed with requisite majority, demonstrating strong shareholder support across all categories. Company Secretary Pankaj Gupta announced the results to NSE (Symbol: SHRIPISTON) and BSE (Scrip Code: 544344) under Regulation 44 compliance.

Company Name Change to SPR Auto Technologies

The first resolution seeking approval for change of company name from "Shriram Pistons & Rings Limited" to "SPR Auto Technologies Limited" received overwhelming support from shareholders across all categories with 236 members participating in the voting process.

Memorandum of Association Amendment

The second resolution for alteration of object clause and adoption of new Memorandum of Association as per Companies Act, 2013 achieved near-unanimous approval. The amendment aims to align with the company's current business profile, technology-focused growth strategy, and long-term strategic direction towards advanced, electronics-integrated and software-enabled automotive solutions.

Articles of Association Amendment

The third resolution for alteration of Articles of Association was approved to replace the existing AOA based on Companies Act, 1956 with new AOA compliant with Companies Act, 2013. The existing articles contained references to specific sections of the erstwhile Act that are no longer in conformity with current regulations.

Regulatory Compliance and Next Steps

The company has fulfilled all regulatory requirements under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The resolutions were earlier approved by the Board of Directors at their meeting held on February 2, 2026. The name change is subject to filing of necessary forms to the Registrar of Companies and other regulatory authorities. The voting results and scrutinizer's report have been made available on the company's website and NSDL's e-voting portal, ensuring transparency for all stakeholders.