The Competition Commission of India has approved the combination inter alia envisaging the merger of Ring Plus Aqua and Maini Precision Products into JK Maini Precision Technologies Limited (JKMPTL); and demerger of aerospace business of JKMPTL into JK Maini Global Aerospace Limited.

The combination inter alia envisages the merger of Ring Plus Aqua Limited (RPAL) and Maini Precision Products Limited (MPPL) into JKMPTL; and demerger of aerospace business of JKMPTL into JK Maini Global Aerospace Limited (JKMGAL).

Parties had earlier filed a notice bearing Combination Registration No. C-2023/12/1089 (Earlier Notice). The Commission approved the transactions notified under the Earlier Notice vide order dated 6^th March 2024. However, there has been a change in the transaction structure post the approval of the Commission.

RPAL is engaged in the business of manufacturing and exporting ring gears, flex plates, and water pump bearings.

MPPL is engaged in manufacturing precision products for different industries and manufactures products based on the design requirements of its customers.

Both JKMPTL and JKMGAL does not have any operations currently.

Detailed order of the Commission will follow.

Merger and demerger approval: combination cleared for consolidation into JKMPTL and carve-out of aerospace business. The Competition Commission of India approved a combination envisaging the merger of Ring Plus Aqua Limited and Maini Precision Products Limited into JK Maini Precision Technologies Limited (JKMPTL) and the demerger of JKMPTL's aerospace business into JK Maini Global Aerospace Limited (JKMGAL); the parties had earlier received clearance for a prior structure but changed the transaction structure after that approval, and a detailed order will follow.