DCM Shriram transfers 50% stake in SPL for USD 5.6M; forms JV

DCM Shriram Ltd's Board has approved the transfer of a 50% equity stake in its wholly-owned subsidiary, Shriram Polytech Limited (SPL), to Teknor Apex B.V. for a cash consideration of USD 5.6 million. This transaction, expected to be completed by April 23, 2026, will reclassify SPL as a joint venture, ceasing its status as a wholly-owned subsidiary. The partnership aims to strengthen DCM Shriram’s advanced materials Polymer compounds portfolio and expand global partnerships in high-growth sectors. As of March 31, 2025, SPL contributed 1.58% to DCM Shriram's turnover and 1.13% to its net worth. Teknor Apex B.V. is a Dutch entity specializing in Thermoplastic Elastomers and is not a related party.