By : Irfan Khan | 5 January 2012
Raymond is acquiring majority stake in forged auto components maker - Trinity India Ltd through it's subsidiary Ring Plus Aqua Ltd.
Pune based Trinity India Ltd was incorporated in January 1974 by JC Basu, Ranjan Banerjee and YC Kurle.The company has raised equity funding from Tata Investment Corporation Ltd (erstwhile - Investment Corporation of India) and Altina Finance Pvt Ltd. Tata Investment holds 8.8% stake in Trinity while Altina has 6.7% stake.
Trinity India has five manufacturing units, four located at Bhosari and one at Shikrapur with a forging capacity of 12,500MTPA. Trinity India exports more than 60% of its total sales and it's clientele includes Tata Motors, Maruti Suzuki, Ford India, Force Motors, Turbogears and Iljin Auto Motors among others.
Trinity Operational Performance
Trinity had filed a DRHP in 2008 but the IPO never happened. Trinity was looking to raise funds for expanding the forging capacity.
Ring Plus Aqua Ltd manufactures ring gears, flex assmeblies and precision sheet metal components. It manufactures its automotive components at two separate locations in integrated factories at Sinnar near Nasik. The company was was acquired by Raymond in July'05 through it's wholly owned subsidiary Scissors Engineering Products Ltd.
Earlier this year, Ring Plus announced it's plans to invest R200Cr to invest it's auto components business which included entering the forging segment through acquistion.
In a seperat transaction, Raymond sold it's stake Rayves Automotive Textile Company Private Limited to Japan based T B Kawashima Company Limited.
Rayves Automotive Textile was a JV between Silver Spark Apparel Ltd, a subsidiary of Raymond and Treves S.A of France offering printed seating fabric for TATA Motors' - Magic IRIS.
(Source : http://www.dealcurry.com/2012015-Raymond-To-Acquire-Majority-Stake-In-Trinity-India.htm)
Raymond is acquiring majority stake in forged auto components maker - Trinity India Ltd through it's subsidiary Ring Plus Aqua Ltd.
Pune based Trinity India Ltd was incorporated in January 1974 by JC Basu, Ranjan Banerjee and YC Kurle.The company has raised equity funding from Tata Investment Corporation Ltd (erstwhile - Investment Corporation of India) and Altina Finance Pvt Ltd. Tata Investment holds 8.8% stake in Trinity while Altina has 6.7% stake.
Trinity India has five manufacturing units, four located at Bhosari and one at Shikrapur with a forging capacity of 12,500MTPA. Trinity India exports more than 60% of its total sales and it's clientele includes Tata Motors, Maruti Suzuki, Ford India, Force Motors, Turbogears and Iljin Auto Motors among others.
Trinity Operational Performance
| (In Rs. Mn) | 2011 | 2010 |
| Revenue | 847.30 | 647.90 |
| PAT | 5.80 | 2.02 |
| Share Capital | 67.72 | 67.72 |
| Reserves | 163.05 | 161.13 |
| Debt | 214.91 | 242.0 |
Trinity had filed a DRHP in 2008 but the IPO never happened. Trinity was looking to raise funds for expanding the forging capacity.
Ring Plus Aqua Ltd manufactures ring gears, flex assmeblies and precision sheet metal components. It manufactures its automotive components at two separate locations in integrated factories at Sinnar near Nasik. The company was was acquired by Raymond in July'05 through it's wholly owned subsidiary Scissors Engineering Products Ltd.
Earlier this year, Ring Plus announced it's plans to invest R200Cr to invest it's auto components business which included entering the forging segment through acquistion.
In a seperat transaction, Raymond sold it's stake Rayves Automotive Textile Company Private Limited to Japan based T B Kawashima Company Limited.
Rayves Automotive Textile was a JV between Silver Spark Apparel Ltd, a subsidiary of Raymond and Treves S.A of France offering printed seating fabric for TATA Motors' - Magic IRIS.
(Source : http://www.dealcurry.com/2012015-Raymond-To-Acquire-Majority-Stake-In-Trinity-India.htm)
No comments:
Post a Comment