Lumax Auto Technologies Limited (LATL) has announced that its Board of Directors has approved the acquisition of the remaining 25% equity stake in IAC International Automotive India Private Limited (IAC India) from IACG Holdings LUX SARL (IAC Lux). Upon completion, IAC India will become a wholly owned material subsidiary of LATL.
IAC India operates as a Tier-1 supplier of interior systems and components for the automotive sector, serving original equipment manufacturers (OEMs) such as Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. The company also maintains an engineering center that delivers design and development services to clients in both domestic and international markets.
The acquisition will be executed as a cash transaction valued at approximately ₹221 crore. LATL currently holds a 75% stake in IAC India, acquired through its wholly owned subsidiary, Lumax Integrated Ventures Private Limited, which has since been merged into IAC India.
The Board of IAC India includes Deepak Jain, Anmol Jain, Sanjay Mehta, and Arun Kumar Malhotra. The transaction will be conducted on an arm’s length basis. The existing operational and management structure of IAC India will remain unchanged. IAC Group will continue to support IAC India with technical and engineering expertise following the acquisition.
The transaction is expected to close by May 31, 2025, subject to customary closing conditions specified in the share purchase agreement. IAC India recorded revenues of ₹468 crore in FY 2021–22, ₹801 crore in FY 2022–23, and ₹886 crore in FY 2023–24, indicating consistent growth in operations over the past three fiscal years.
The Lumax-DK Jain Group stands as a prominent player in the Indian automotive industry, offering a comprehensive portfolio of solutions across Lighting, Transmission, Structures & Control Systems, Advanced Plastics, Mechatronics, and Green & Alternate Fuel technologies. Recognized as the market leader in automotive lighting, gear shift levers, and vehicle interior systems, Lumax has established itself as a trusted supplier to the majority of India’s leading Original Equipment Manufacturers (OEMs). For the financial year 2023–24, the group recorded a consolidated turnover of ₹8,434 crores. With 12 strategic partnerships involving global automotive technology leaders, Lumax operates 16 business entities across 40 locations throughout India.
Lumax Auto Technologies Ltd, through its wholly owned subsidiaries and joint ventures, manufactures a wide range of automotive components. These include advanced plastic systems such as vehicle interiors, air intake systems, plastic and urea fuel tanks; lighting solutions for two- and three-wheelers; structures and control systems; gear shifters; and components for green and alternate fuel applications. Its Mechatronics segment produces power window switches, telematics control units, antennas, vehicle communication systems, and oxygen sensors. The company is a market leader in the design, testing, and manufacturing of gear shift levers in India. With 28 manufacturing plants strategically located across all major automotive hubs in the country, Lumax Auto Technologies serves an esteemed clientele that includes Bajaj Auto, Honda Motorcycles and Scooters, Mahindra & Mahindra, Maruti Suzuki, Tata Motors, and Toyota.