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Updated - April 16, 2026 at 03:56 PM.

| New Delhi

DCM Shriram on Thursday said it would sell half of its stake in subsidiary Shriram Polytech Ltd (SPL) to Dutch company Teknor Apex B V for $5.6 million, converting the unit into a joint venture.

DCM Shriram's board approved the deal, which is expected to close by April 23, the company said in a regulatory filing.

The transaction will reduce DCM Shriram's ownership in SPL from 100 per cent to 50 per cent, reclassifying the polymer compounds maker as a joint venture rather than a wholly-owned subsidiary.

DCM Shriram said the tie-up would combine SPL's domestic manufacturing capabilities in vinyl compounds with Teknor Apex's global formulation expertise to develop specialty polymer solutions for industrial applications.

Teknor Apex B V is a Netherlands-based unit of US company Teknor Apex Company, with manufacturing operations in Genk, Belgium focused on thermoplastic elastomers for the European Union market.

DCM Shriram said the deal is a part of its strategy to expand advanced materials portfolio and build global partnerships in high-growth sectors.

Published on April 16, 2026

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