SPR Auto Technologies Limited, previously known as Shriram Pistons & Rings, has successfully completed a qualified institutional placement (QIP) of 2,336,448 equity shares, raising a total of ₹1,000 crore. This significant financial transaction was expertly facilitated by two esteemed law firms: Khaitan & Co and Trilegal.
Khaitan & Co Advises SPR Auto Technologies
Khaitan & Co played a crucial advisory role for SPR Auto Technologies throughout this QIP process. The firm’s team was spearheaded by Partner Gautham Srinivas, with substantial contributions from Partner Sathvik Ponnappa. The team was further strengthened by Principal Associate Pulkit Singh Rahangdale and Senior Associate Avinash Gautam. Additional support came from Associates Anushaka Sharma, Shambhavi Gautam, and Rishav Khetan, ensuring a comprehensive legal strategy and execution.
Trilegal Supports Lead Managers
On the other side, Trilegal provided legal counsel to the lead managers of the issuance, Axis Capital Limited and Emkay Global Financial Services Limited. This vital aspect of the transaction was led by Partner Vinay Sirohia, with significant backing from Senior Associate Shashwat Raj Solanki. The team also included Associates Sheetal Kumar, Olivia De, and Apoorva Chander, with Trainee Associates Pratik Basistha and Sanchit Gupta offering additional support. Their collaboration ensured the successful management of the QIP for the involved parties.
About SPR Auto Technologies
SPR Auto Technologies stands as a prominent player in the Indian automotive component manufacturing industry. With a legacy spanning over five decades within the Shriram Group, the company has evolved from producing pistons, piston pins, piston rings, and engine valves to becoming a diversified, technology-driven engineering group. Today, SPR Auto Technologies provides a wide array of powertrain and powertrain-agnostic products, catering to both the automotive and non-automotive sectors, showcasing their versatility and innovation.
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