M&A
Lumax Auto Tech to acquire remaining 25% stake in IAC India for Rs.221-Cr
BSE Announcement Economic Times
Delhi-based publicly listed Lumax Auto Technologies Ltd will acquire the remaining 25 per cent stake in IAC International Automotive India Pvt Ltd from the International Automotive Components Group for INR 221 crore. IAC Group will continue to support IAC India through a technology support agreement.IAC India has five manufacturing plants across the country, including two in Chakan, Pune and one each in Manesar, Nashik and Bangalore.
In Feb 2023, Lumax Auto Technologies had acquired 75% stake in IAC International Automotive India for INR 440 crore.
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