SUMMARY OF THE OFFER DOCUMENT

The following is a general summary of the terms of the Offer and is not exhaustive, nor does it purport to contain
a summary of all the disclosures in this Prospectus or all details relevant to investors. This summary should be
read in conjunction with, and is qualified in its entirety by, the more detailed information appearing elsewhere in
this Prospectus, including in the sections entitled “Risk Factors”, “The Offer”, “Capital Structure”, “Objects
of the Offer”, “Industry Overview”, “Business”, “Outstanding Litigation and Material Developments”, “Offer
Procedure” and ‘Main Provisions of Articles of Association” on pages 22, 56, 71, 80, 96, 168, 325, 350 and
368, respectively.

Summary of Business

We are a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three
business segments, namely powertrain and other products for the automotive segment, aluminium products for
the automotive segment and industrial and engineering products segment. We are the largest player involved in
the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles
segment as well as in the construction equipment industry in India. We are among the top three-four component
players with respect to machining of cylinder block for the tractor segment in India. (Source: CRISIL Report). We
are present across the entire value chain in the Automotive-Aluminium Products segment, providing diverse
products and solutions. For further details, see “Business” on page 168.

Summary of Industry

The Indian auto components industry clocked a CAGR of 6% in production over Fiscals 2015 to 2020, led by
growth in replacement and exports demand. Domestic demand is forecast to log a CAGR of 6% to 8% to
approximately = 4,225 billion, driven by demand from OEMs at 7% to 9%, whereas exports are set to grow at 3%
to 5% over Fiscals 2020 to 2024 to reach approximately = 2,772 billion on the back of healthy growth in the OEM
segment on a low base of Fiscals 2020 and 2021 due to BS-VI norms and the COVID-19 pandemic, respectively.
In the long term, CRISIL Research expects the domestic consumption to grow at a pace of 5 to 7% CAGR between
Fiscals 2020-2024. For further details, see “Industry Overview” on page 96.

Promoter

Our Promoter is Srinivasan Ravi.

 

 

 

 

 

 

Offer Size

Offer 5,528,161" Equity Shares, aggregating to & 8,236.96"
million

which consists of:

~ Fresh Issue 1,006,711* Equity Shares, aggregating to % 1,500.00*
million

- Offer for Sale® 4,521,450* Equity Shares, aggregating to % 6,736.96"
million by the Selling Shareholders

 

 

* Subject to finalization of the Basis of Allotment

(1) The Offer has been authorized by a resolution of our Board dated December 5, 2020 and the Fresh Issue has been authorized by a special
resolution of our Shareholders, dated December 7, 2020.

(2) The Equity Shares being offered by the Selling Shareholders have been held for a period of at least one year immediately preceding the
date of filing of the Draft Red Herring Prospectus with SEBI, and are eligible for being offered for sale pursuant to the Offer in terms of

the SEBI ICDR Regulations. The Selling Shareholders, severally and not jointly, have confirmed and authorized their respective
participation in the Offer for Sale. For further information, see “Other Regulatory and Statutory Disclosures ” on page 332.

For further details, see “The Offer” on page 56.
Objects of the Offer

The Net Proceeds are proposed to be used in accordance with the details provided in the following table:

 

Particulars ‘Amount
(in million)
Repayment/pre-payment, in full or part, of certain borrowings availed of by our Company 1,200.00

 

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