The Board of Directors of Gabriel India Limited has approved a composite scheme of arrangement involving Gabriel India Limited, Asia Investments Private Limited (AIPL), and Anchemco India Private Limited (formerly known as Andasia Private Limited).
Under this Scheme, the automotive business undertaking of AIPL — comprising Anchemco’s business (manufacturing brake fluids, radiator coolants, diesel exhaust fluid (DEF)/AdBlue, and PU/PVC-based adhesives), along with AIPL’s investments in Dana Anand India Private Limited, Henkel ANAND India Private Limited, and ANAND CY Myutec Automotive Private Limited (ACYM) — will be vested into Gabriel.
This strategic move consolidates AIPL’s demerged automotive components and products business — including drivetrain products (transmissions for EVs), Body-in-White (BIW) and NVH products and solutions, brass and steel synchronizer rings, aluminium forgings, brake fluids, radiator coolants, DEF/AdBlue for two-, three-, and four-wheelers, and PU/PVC adhesives — into Gabriel. Together with its recently added sunroof business, this transformation positions Gabriel as a diversified, technology-driven mobility solutions provider, significantly reducing dependence on a single product line and enabling expansion into new segments, geographies, aftermarket categories, and the railway segment.
The Scheme will empower Gabriel to strengthen its position as a preferred global OEM partner, broaden its customer base, embrace advanced technologies, and expand its aftermarket footprint through a diversified product portfolio. This is expected to accelerate profitable growth, improve margins, and enhance shareholder value through EPS accretion and higher returns on equity.
The Scheme is subject to requisite approvals from the Stock Exchanges, National Company Law Tribunal (NCLT), other statutory and regulatory authorities, as well as the respective companies’ shareholders and creditors. The transaction is anticipated to close within 10–12 months, contingent upon timely regulatory clearances.
JM Financial is acting as exclusive financial advisor, and Katalyst Advisors is serving as structuring and scheme implementation advisor to Gabriel.
KPMG Valuation Services LLP and BDO Valuation Advisory LLP acted as independent valuers for determining the share exchange ratio. ICICI Securities provided the fairness opinion on the share exchange ratio to Gabriel’s Board. Coortus Advisers acted as due diligence advisor.
Reflecting on this strategic restructuring, Anjali Singh, Chairperson of Gabriel India, stated: “This Scheme of Arrangement aligns with our Group’s strategy to re-align the corporate structure, enhancing our competitive position, with Gabriel India playing a pivotal role. We envision Gabriel India as ANAND Group’s growth vehicle, providing a strong platform to capture value creation for all shareholders. At the Group level, we have set a revenue target of ₹50,000 crores by 2030, and we see Gabriel India leading this journey.”
Atul Jaggi, Managing Director of Gabriel India, added: “Gabriel India has traditionally been a single-product company focused on suspension parts and shock absorbers. In 2023, we diversified into the sunroof business as our first step towards becoming a multi-product company. With this strategic consolidation, we now expand into manufacturing and selling multiple products such as brake fluids, radiator coolants, DEF/AdBlue for two-wheelers, three-wheelers, four-wheelers, and trucks, as well as PU/PVC adhesives.”
“Additionally, through equity holdings in Dana Anand, Henkel ANAND, and ANAND CY Myutec Automotive, we participate in drivetrain products, transmissions for EVs, BIW and NVH solutions, synchronizer rings, and aluminium forgings. This strengthens Gabriel’s position as a preferred partner for global OEMs and significantly expands our aftermarket presence.”
