Schaeffler India Share Price

Schaeffler India Limited, formerly known as FAG Bearings India Ltd, is a leading producer of ball and roller bearings in India. Their products are used in a variety of industries, including automobiles. Regarding the automotive and industrial industries, Schaeffler Group is the go-to provider of cutting-edge solutions. The business develops, sells, and distributes engine and transmission components, clutch systems for chassis applications, roller and ball bearings for high-precision machinery, and associated machine parts. The cities of Vadodara and Savli in Gujarat, Talegoan (Pune) in Maharashtra, and Hosur in Tamil Nadu house some of its factories.

The divisions selling the company's wares are Automotive, Industrial, and automotive aftermarket. Fleet workshops for the automotive aftermarket and industrial distribution industries are also offered. Its client-focused approach emphasizes innovation and a robust distribution network to maintain its dominant position in these markets.

Vehicles and manufacturing both account for a similar share of total sales. In 1962, FAG Bearings India Ltd was founded as Precision Bearings India Ltd. As early as 1986, the firm was known as FAG Precision Bearings Ltd; by 1999, it had adopted its current name, FAG Bearings India Ltd. They earned ISO 9001 and QS 9000 accreditation in 1993 and 1998, respectively, and ISO 14001 in 1999, making them the first Indian Bearing business to receive all three.

The business established the first hub-bearing manufacturing facility in India in 2000. The firm founded FAG Roller Bearings Private Ltd in 2001 in Pune, Maharashtra, in partnership with German bearings manufacturer FAG Kugelfischer Georg Schaefer AG to produce taper roller bearings. Tapered roller bearings of world-class quality for automotive and industrial applications were first introduced to the Indian market in April 2002 from a factory in Pune.

In 2002, FAG Kugelfischer Georg Sch for KGaA joined the Schaeffler Group worldwide. The Validation Centre was set up by FAG Bearings India in 2003. In 2006 FAG Bearings India built its Special Machine Building plant. In 2007 FAG Bearings India launched the manufacture of an E1 spherical roller bearing. In 2009 FAG Bearings India received OHSAS 18001 Certification. The Savli facility, located close to Vadodara, was opened by the corporation in 2012. The firm launched the manufacture of Low-friction Ball Bearings and Large Size Bearings in October 2012. It was announced on July 7th, 2017, that FAG Bearings India Limited will change its name to Schaeffler India Limited.

This rebranding is a significant milestone in implementing Schaeffler AG's new worldwide strategy, "Mobility for tomorrow." On 27 November 2017, Schaeffler India's INA Bearings Pvt Limited announced the expansion of its operations in Talegaon, Pune, with an investment expenditure of Rs 200 crore. The expansion will feature a new production plant and a new R&D facility inside the current premises.

The new manufacturing plant will produce engine and transmission components for the local and international markets. Improved product development and engineering skills are key focal areas for the research and development centre, ultimately leading to new and exciting offerings for consumers.

By the NCLT Mumbai order and SEBI requirements, on March 22, 2018, Schaeffler India Limited announced that the requisite majority of its shareholders and creditors had voted in favour of the scheme of amalgamation of the two unlisted entities INA Bearings India Private Limited and LuK India Private Limited with Schaeffler India Limited.

In addition, the business declared that the meetings of INA India's shareholders and creditors, both of which were ordered by NCLT Mumbai, were unanimous in their support of the merger. NCLT Chennai has dispensed with calling the meetings of creditors and shareholders of LuK India. The business has already got no objection clearance from SEBI.

By the scheme, Schaeffler India Limited will distribute 14.64 million new equity shares to INA India shareholders in exchange for 65 existing shares and to LuK India shareholders in exchange for 35 existing shares, pending the approval of the National Company Law Tribunal and the satisfaction of other legal requirements. Shareholding of the Promoter group upon the merger will be 74.13%. We expect to maximize synergies across the three firms by merging them. Do you want to know more about Schaeffler India Shares? Click Here to know about Schaeffler India Share Price for today.