Tjokro Group buys control of listed Geoprima Solusi to reach Indonesia's capital market

What's the deal? Tjokro GroupDealroom has a profile for this one. Try Dealroom →, a long-standing Indonesian manufacturer, has entered the country's capital market by acquiring a controlling stake in listed PT Geoprima Solusi Tbk (GPSO). The deal ran through its subsidiary PT PIMSF PulogadungDealroom has a profile for this one. Try Dealroom →, now GPSO's controlling shareholder.

What each side brings: Tjokro Group started as a small machining and industrial component workshop and has expanded into automotive components. It makes critical parts for two- and four-wheeled vehicles under quality standards set by global automotive principals.

GPSO previously focused on mapping solutions and integrated technology services. The transaction combines Tjokro's manufacturing base with GPSO's publicly listed platform.

What's the endgame? The listing gives Tjokro Group access to capital-market instruments for long-term financing, stronger corporate governance, and wider business reach. Management framed the deal as a foundation, not an endpoint.

"Going forward, Tjokro Group through its business ecosystem plans to strengthen manufacturing supply-chain integration, increase production capacity for precision components, and explore new opportunities in the growing automotive and industrial technology markets," management said on September 7, 2026.

The signal: Backdoor listings — where a private company gains a public foothold by taking over an already-listed firm — remain a route for Indonesian manufacturers seeking capital without a traditional IPO. For Tjokro Group, the move diversifies its revenue base as conditions shift across Indonesia's manufacturing sector.

Read more: indonesiabusinesspost.com

Image credit: ralphbijker