<?xml version="1.0" encoding="UTF-8"?>
<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">PRICOLLTD</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-13</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">PRICOLLTD</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-11-13</xbrli:startDate><xbrli:endDate>2026-11-13</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:ScripCode contextRef="OneI">540293</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">PRICOL LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">PRICOLLTD</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE726V01018</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Sale or disposal of unit(s)/division(s)/subsidiary</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-11-13</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">20:30:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-11-13</in-capmkt:DateOfReport><in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto contextRef="OneI">2026-11-13</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto><in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal contextRef="OneI">2027-12-31</in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal><in-capmkt:NatureOfConsiderationForSaleOrDisposal contextRef="OneD">Others</in-capmkt:NatureOfConsiderationForSaleOrDisposal><in-capmkt:DetailsOfConsiderationForSaleOrDisposal contextRef="OneI">The Company will not receive any consideration pursuant to the Proposed Transaction. The consideration pursuant to the Proposed Transaction will be received by the sellers being the following members of the promoter and promoter group of the Company namely, Mr. Vijay Mohan, Mr. Vikram Mohan and Mrs. Vanitha Mohan (Promoters), and Mr. Viren Mohan, Ms. Manasa Mohan, Ms. Madhura Mohan, Pricol Holdings Private Limited, Pricol Engineering Industries Private Limited, Shrimay Enterprises Private Limited and Pricol Logistics Private Limited (collectively, “Sellers”), who will be selling their entire stake in Pricol Autotech to the Acquirer.
For completeness, the aggregate consideration payable for the sale by the Sellers of their entire stake of Pricol AutoTech of 38.51% (to be issued to the Sellers pursuant to the Scheme) is up to INR 1,663.07 Crores (Indian Rupees One Thousand Six Hundred and Sixty Three Crores and Seven Lakhs) subject to the terms of the Share Purchase Agreement</in-capmkt:DetailsOfConsiderationForSaleOrDisposal><in-capmkt:BriefDetailsOfBuyers contextRef="OneI">The Acquirer is Topaz Terrace Investments B.V. (an affiliate entity of Warburg Pincus LLC), a company incorporated under the laws of The Netherlands. The Acquirer does not belong to the promoter, promoter group or group companies of the Company. Pursuant to the consummation of the Proposed Transaction and the completion of the Open Offer, the Acquirer will acquire control over Pricol Autotech, and the Sellers will cease to be in control of Pricol Autotech and will seek reclassification from the promoter and promoter group category of Pricol Autotech in terms of applicable law.</in-capmkt:BriefDetailsOfBuyers><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed contextRef="OneD">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed><in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength><in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement contextRef="OneD">true</in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement><in-capmkt:DetailsOfTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement contextRef="OneI">Not applicable as the Sellers will be selling their shareholding in Pricol Autotech to the Acquirer.</in-capmkt:DetailsOfTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement><in-capmkt:WhetherTheComplianceWithRegulation37AOfLODR contextRef="OneD">false</in-capmkt:WhetherTheComplianceWithRegulation37AOfLODR><in-capmkt:DetailsOfNonComplianceWithRegulation37AOfLODR contextRef="OneD">Not applicable as the Sellers will be selling their shareholding in Pricol Autotech to the Acquirer.</in-capmkt:DetailsOfNonComplianceWithRegulation37AOfLODR></xbrli:xbrl>
