Varroc Engineering Share Price

Automotive component supplier Varroc Engineering Limited operates on a worldwide scale. Tier-1 suppliers provide products and services directly to original equipment manufacturers (OEMs). The company develops, produces, and directly distributes exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metals components to OEMs worldwide that produce cars, trucks, motorcycles, and off-highway vehicles.

The firm is a top-tier 2-wheeler automotive component supplier in India and a major player in the worldwide passenger vehicle lighting market. The corporation owns 37 production sites throughout the world. In 1990, the firm opened for polymer trade. It expanded into new business areas in India, such as the electrical and metals divisions, and flourished organically at first. Through further investments, joint ventures, and acquisitions, it expanded its product range and increased its manufacturing capacity.

Since 2012, the company has invested in nine new production facilities and one new research and development center in India. On May 11, 1988, in Mumbai, India, a private limited company named Varroc Engineering Private Limited was formally established. This later became known as Varroc Engineering Limited. As of July 1, 1997, the term "Private" was dropped from the Company's name, marking the organization as one that is now considered publicly traded.

The term "Private" was subsequently added to the Corporation's name on January 24, 2001, after the business had been turned into a private company. Varroc Exhaust Systems Private Limited was established in 2005 to provide catalytic converters for motorcycles, scooters, and mopeds. The partnership with the French firm Plastic Omnium Auto Exterior SAS was established in 2007. This firm purchased the Italian firm I.M.E.S. during the reviewed fiscal year.

Following a composite scheme of arrangement between the Company, Varroc Lighting Private Limited (VLPL), and Varroc Polymers Private Limited (VPPL) in 2008, VLPL was incorporated into the Company, and VPPL was formed to handle the Company's polymer business. TRI.O.M S.p.lighting A.'s division for motorcycles and bicycles was purchased by the firm in 2011. After acquiring the lighting division of Visteon Corporation in 2012, the business is currently known as Varroc Lighting Systems.

The acquisition of Visteon's stake in the Varroc TYC (which entirely owns Varroc TYC Auto Lamps, which in turn wholly owns Varroc TYC Auto Lamps (CQ) (the 'China JV') joint venture with Beste Motor Co. Ltd. ('TYC') in 2013 marked a significant expansion of the company's worldwide lighting business. On February 5, 2018, the business changed its structure to that of a public limited company and adopted the name "Varroc Engineering Limited."

The firm is developing electronic fuel injection control systems for two-wheelers and three-wheelers. On February 13, 2018, they formed a joint venture with one of their clients in India, Dell'Orto S.p.A.

Its subsidiary VPPL purchased a 90% share in Team Concepts in 2018. Company capital was used to establish lighting assembly plants in Brazil and Morocco during the accounting period under review. The firm bought Team Concepts, a maker of vehicle accessories, to broaden its scope of operations during the reporting year.

Between June 26 and June 28, 2018, the firm made its initial public offering (IPO). Promoter Tarun Jain (17.52 lakh shares), Omega TC Holdings (all 169.17 lakh shares), and Tata Capital Financial Services made up the selling stockholders in the IPO (the entire 15.52 lakh shares). The organization did not distribute any new stock. The IPO price per share was Rs 967. Released to the public on July 6, 2018, the stock is making its first appearance on the stock exchanges. Members of Varroc Lighting Systems INCBoard .'s of Directors.

At a meeting on 12 July 2018 in the Czech Republic, USA (an owned stepdown subsidiary firm of Varroc Engineering Limited) authorized plans to establish new facilities in Chennai, India, and Poland to produce outdoor lighting components. The stock markets were notified by Varroc Engineering Limited's 100%-owned subsidiary, Aries Mentor Holding B.V., on August 3, 2018. On August 3, 2018, Aries Mentor Holding B.V. of the Netherlands bought 660,114 shares of TRI.O.M. S.p.A. from the company's existing minority stakeholder, Mr. Alessio Caputo.Do you want to know more about Varroc Engineering Shares? Click Here to know about Varroc Engineering Share Price for today.