Jamna Auto Industries Limited (NSE:JAMNAAUTO) announced on 24 July 2026 that its board of directors has approved the acquisition of Owen Springs Limited, a UK-registered manufacturer of leaf and parabolic springs, for a cash consideration of £2,000,000 (two million pounds sterling). The acquisition is subject to satisfaction of conditions precedent under the Share Purchase Agreement and is expected to complete by 31 August 2026.
Key Highlights
- Jamna Auto will acquire 100% of the outstanding equity capital of Owen Springs Limited, a UK-based springs and allied products manufacturer, for £2,000,000 cash subject to net current asset adjustments.
- Owen Springs Limited reported revenues of £2,760 thousand for the calendar year ended 31 December 2025, with a reported profit after tax of £132 thousand and net worth of £1,041 thousand.
- The acquisition is not a related party transaction and does not require governmental or regulatory approvals for completion.
- The proposed transaction is aligned with Jamna Auto's Lakshya – RISE 5000 strategic growth initiative aimed at expanding into new markets and strengthening international presence.
- The acquisition is expected to enhance Jamna Auto's access to customers and business opportunities in the United Kingdom and create operational synergies and long-term value creation.
- The company manufactures and trades leaf and parabolic springs and allied products at its registered office in Yamuna Nagar, Haryana, with manufacturing operations in Malanpur, Chennai, Jamshedpur, Pantnagar, Hosur, and Pune.
- Completion of the acquisition is targeted for 31 August 2026, subject to satisfaction of conditions precedent and other completion formalities specified in the Share Purchase Agreement.
About the Company
Jamna Auto Industries Limited is an automotive components manufacturer incorporated in Haryana, India, with CIN L35911HR1965PLC004485. Listed on the National Stock Exchange (NSE:JAMNAAUTO) and Bombay Stock Exchange (BSE:520051), the company is engaged in the manufacturing and trading of leaf springs, parabolic springs, and allied products used across automotive platforms. Jamna Auto operates manufacturing facilities across multiple locations in India, including Yamuna Nagar (registered office), Malanpur, Chennai, Jamshedpur, Pantnagar, Hosur, and Pune. The company's corporate office is located in Faridabad, Haryana. As a specialist in spring manufacturing for the automotive sector, Jamna Auto supplies critical suspension and chassis components to original equipment manufacturers and the aftermarket. The company has pursued a structured growth strategy, most recently articulated as the Lakshya – RISE 5000 initiative, which focuses on market expansion and international business development.
Announcement in Detail
The board of directors of Jamna Auto Industries Limited, in its meeting held on 24 July 2026, approved the acquisition of Owen Springs Limited, a company registered in England and Wales with company number 05192010. Owen Springs Limited operates manufacturing and trading facilities at Aldwarke Terrace, Parkgate, Rotherham, South Yorkshire, S62 6BX, United Kingdom. The target company is engaged in the manufacturing and trading of leaf springs, parabolic springs, and other allied products. For the calendar year ended 31 December 2025, Owen Springs Limited reported revenues of £2,760 thousand UK Pounds, with reported profit after tax of £132 thousand and net worth of £1,041 thousand as per its latest financial statements. The company was incorporated on 28 July 2004 and has reported three years of historical revenue: £3,854 thousand (year ended 31 December 2023), £3,165 thousand (year ended 31 December 2024), and £2,760 thousand (year ended 31 December 2025).
Jamna Auto will acquire 100% of the outstanding equity capital of Owen Springs Limited from its existing shareholder, OSL Group Holdings Limited, for a total consideration of £2,000,000 (two million pounds sterling). The consideration is payable entirely in cash and is subject to adjustments to net current assets in accordance with the terms of the Share Purchase Agreement. The acquisition does not constitute a related party transaction, and neither the promoter, promoter group, nor group companies of Jamna Auto have any interest in Owen Springs Limited. No governmental or regulatory approvals are required for completion of this acquisition. The transaction is expected to be completed by 31 August 2026, subject to satisfaction of conditions precedent and other completion formalities as stipulated under the Share Purchase Agreement and applicable laws.
The acquisition is aligned with Jamna Auto's Lakshya – RISE 5000 strategy, which focuses on expanding into new markets and strengthening the company's international presence. According to the disclosure, the acquisition is expected to strengthen Jamna Auto's global footprint and market position, enhance its access to customers and business opportunities in the United Kingdom and other regions, and create opportunities for business expansion, operational synergies, and long-term value creation. The filing indicates no material government or regulatory approvals are required for the acquisition to complete.
Impact on Investors
The acquisition of Owen Springs Limited represents a geographic and operational diversification for Jamna Auto, extending its springs manufacturing capability into the United Kingdom market. Investors will note that the transaction is structured as a 100% cash acquisition for £2,000,000, which represents deployment of the company's liquidity toward an international asset in a sector aligned with Jamna Auto's core manufacturing competency. The filing shows that Owen Springs Limited reported declining revenues over the past three years, from £3,854 thousand (2023) to £2,760 thousand (2025), alongside modest profitability of £132 thousand PAT for the year ended 31 December 2025. Investors will observe that this acquisition does not trigger related party transaction disclosures and does not require external regulatory approvals, streamlining the completion process.
The strategic rationale disclosed in the filing, alignment with the Lakshya – RISE 5000 expansion strategy and expectation of operational synergies and long-term value creation, indicates management's intention to leverage Jamna Auto's manufacturing expertise and customer relationships to stabilize and grow Owen Springs Limited's operations. Shareholders should note that the acquisition consideration is subject to adjustment for net current assets, which may result in a final payment figure different from the stated £2,000,000 indicative amount depending on the financial position of Owen Springs Limited at completion. The filing does not disclose projected synergies, cost savings, or accretion or dilution metrics to earnings, and investors should await further disclosure or management commentary on expected financial or operational impact once the transaction completes by the targeted date of 31 August 2026.
Sector / Market Context
India's automotive component sector has increasingly pursued international expansion as a strategy to diversify revenue streams and access developed markets with higher manufacturing standards and pricing. The springs and suspension components segment, in which Jamna Auto operates, serves original equipment manufacturers across passenger vehicle, commercial vehicle, and multi-utility vehicle platforms. Many Indian automotive Tier-1 suppliers have established or acquired manufacturing or trading operations in the United Kingdom, Europe, and North America to support original equipment manufacturer (OEM) customer plants in those regions and to serve local and regional aftermarket demand. The United Kingdom remains a significant market for automotive components, with historical production concentrated in the Midlands and Yorkshire regions. Owen Springs Limited's location in Rotherham, South Yorkshire, positions it within the UK's established automotive components cluster. The acquisition by Jamna Auto reflects a consolidation trend among Indian automotive suppliers seeking to build or augment international footprints and leverage operational expertise across geographies.