Lumax Auto Technologies to Acquire Remaining 25% Shareholding in IAC International Automotive India

Lumax Auto Technologies Ltd. has approved the proposed acquisition of the remaining 25% shareholding in IAC International Automotive India Private Limited from its existing shareholder, IACG Holdings LUX SARL. This acquisition will make IAC India a wholly owned material subsidiary of Lumax. IAC India is a well-established Tier-1 interior systems and components supplier, with a strong engineering center providing advanced design and engineering services. The turnover/revenue of IAC India for the previous three financial years is as follows: FY 2021-22: INR 468 Crores, FY 2022-23: INR 801 Crores, FY 2023-24: INR 886 Crores. The acquisition is expected to be completed by May 31, 2025, subject to customary conditions precedent.