# Schaeffler India to acquire Koovers for INR 1.42 billion

Schaeffler India, a subsidiary of Schaeffler AG, has proposed to acquire 100% shareholding of KRSV Innovative Auto Solutions Private Limited (Koovers) from its founders and existing investors for approximately INR 1.42 billion. Koovers provides spare parts solutions to the Indian automotive aftermarket.

- Type: Acquisition
- Announced: 2023-08-29
- Where: India
- Value: $17.1M (1.42B INR)
- Status: announced
- Products: spare parts solutions for automotive aftermarket
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Schaeffler](https://endata.com/companies/2238.md) (investor)
- [Schaeffler India](https://endata.com/companies/8619.md) (acquirer)
- [KRSV Innovative Auto Solutions Private Limited](https://endata.com/companies/72308.md) (target)

## Sources

- [azbpartners.com](https://www.azbpartners.com/bank/schaeffler-ag-and-schaeffler-india-a-listed-company-on-schaeffler-indias-proposed-acquisition-of-100-shareholding-of-krsv-innovative-auto-solutions-private-limited-koovers/), 2023-08-29: "AZB & Partners is advising Schaeffler AG and Schaeffler India on Schaeffler India’s proposed acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited ('Koovers') from its founders and existing investors for a consideration of approximately INR 1.42 billion."
- [marketscreener.com](https://www.marketscreener.com/quote/stock/SCHAEFFLER-INDIA-LIMITED-6493485/news/Schaeffler-India-Limited-completed-the-acquisition-of-KRSV-Innovative-Auto-Solutions-Private-Limited-44805597/), 2023-09-07: "Schaeffler India Limited completed the acquisition of KRSV Innovative Auto Solutions Private Limited on September 8, 2023."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.