Acquisitions29 May 2026, 06:32 pm
Lumax Auto to Acquire Remaining 15.97% Stake in Lumax FAE
AI Summary
Lumax Auto Technologies Ltd's board approved the acquisition of the remaining 15.97% stake in Lumax FAE Technologies Private Limited (LFAE) from Francisco Albero S.A.U (FAE), making LFAE a wholly-owned subsidiary. The board also recommended a final dividend of ₹5.50 per equity share (275%) for FY26, subject to shareholder approval. Additionally, Mr. Deepak Jain was appointed as Vice Chairman (Non-Executive), effective May 29, 2026. The board approved seeking shareholder approval for material related party transactions with Lumax Industries Limited and for providing loans/guarantees up to ₹500 Crores under Section 185 of the Companies Act, 2013.
Key Highlights
- Lumax Auto will acquire the remaining stake in Lumax FAE Technologies.
- A final dividend of ₹5.50 per share was recommended for FY26.
- Deepak Jain appointed as Vice Chairman (Non-Executive).
- Shareholder approval sought for related party transactions with Lumax Industries.
- Board approved investment of upto ₹3 Crores in Lumax Yokowo Technologies Private Limited.
Price Impact
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