Latest news with #LATL
Business Upturn
19-05-2025
- Automotive
- Business Upturn
Lumax Auto Technologies to acquire remaining 25% stake in IAC India
By Aman Shukla Published on May 19, 2025, 15:53 IST Lumax Auto Technologies Limited (LATL), a prominent Tier-1 supplier of automotive systems and components, has entered into an agreement to acquire the remaining 25% stake in IAC International Automotive India Private Limited (IAC India) from the International Automotive Components Group (IAC Group). With this acquisition, IAC India is set to become a wholly owned subsidiary of LATL. The IAC Group will continue to provide technology support to IAC India through a dedicated agreement, ensuring continuity in technical collaboration. IAC India is recognized for its capabilities in manufacturing plastic interior systems and components for leading automotive OEMs in India. Its client base includes Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. Notably, IAC India serves as the sole supplier of integrated cockpits and door panels for Mahindra's latest battery electric vehicle models, BE6 and XEV 9e. The company operates five manufacturing facilities across India, including two in Chakan (Pune), and one each in Manesar, Nashik, and Bangalore. It also houses an advanced engineering centre in Pune. This centre is equipped with capabilities in product design, dimensional engineering, product development, program management, and tooling. With a workforce of 330 engineers and designers, the centre supports both domestic and international customers, offering comprehensive engineering solutions. LATL had previously acquired a 75% stake in IAC India in March 2023. The current transaction, subject to the fulfillment of customary conditions precedent, is expected to close by May 31, 2025. Following the completion, LATL is considering the possibility of merging IAC India with itself, in line with legal and regulatory guidelines, to leverage operational and strategic synergies. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
NDTV
19-05-2025
- Automotive
- NDTV
Lumax Auto Tech To Secure Remaining IAC India Stake For Rs 221 Cr
New Delhi: 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 Rs 221 crore, according to a regulatory filing by the company. The company has signed an agreement to acquire the remaining 25 per cent stake, and IAC Group will continue to support IAC India through a technology support agreement, Lumax Auto Technologies Ltd (LATL) said in a statement on Sunday. "Equity value for 25 per cent interest in IAC India is approximately Rs 221 crore," the filing said. Lumax had earlier acquired a 75 per cent stake in IAC India in March 2023. The closure of the latest transaction is subject to completion of customary conditions precedent and is expected by May 31, 2025 after which IAC India will become a wholly-owned subsidiary of LATL. The company further said it will explore the possibility of merging IAC India with Lumax in accordance with legal and regulatory requirements to unlock further synergies between the two companies. "The consolidation will strengthen our strategic vision and enable future growth, building on the strong foundation to drive continuity, performance, and scalability," Lumax Group Chairman Deepak Jain said. This development marks a significant milestone in the group's journey towards long-term value creation and providing comprehensive solutions across lighting, plastics, and interiors," he added. "It also reinforces its strategic position within IAC India and expands our footprint on major electric vehicle platforms of leading OEMs such as Mahindra & Mahindra, emphasising our commitment to the future of sustainable mobility," Jain said. IAC India has five manufacturing plants across the country, including two in Chakan, Pune and one each in Manesar, Nashik and Bangalore. It also has an in-house engineering centre in Pune with key capabilities in product designing and engineering, dimensional engineering, product development, programme management and tooling development, the statement said. The engineering centre has a team of 330 engineers and designers with global experience catering to all tool development requirements from customers as well as from its global sister concerns, it added.
Time of India
18-05-2025
- Automotive
- Time of India
Lumax Auto Tech to acquire remaining 25 pc stake in IAC India for Rs 221 cr
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 Rs 221 crore, according to a regulatory filing by the company. The company has signed an agreement to acquire the remaining 25 per cent stake and IAC Group will continue to support IAC India through a technology support agreement , Lumax Auto Technologies Ltd (LATL) said in a statement on Sunday. "Equity value for 25 per cent interest in IAC India is approximately Rs 221 crore," the filing said. Lumax had earlier acquired a 75 per cent stake in IAC India in March 2023. The closure of the latest transaction is subject to completion of customary conditions precedent and is expected by May 31, 2025 after which IAC India will become a wholly-owned subsidiary of LATL. The company further said it will explore the possibility of merging IAC India with Lumax in accordance with legal and regulatory requirements to unlock further synergies between the two companies. Live Events "The consolidation will strengthen our strategic vision and enable future growth, building on the strong foundation to drive continuity, performance, and scalability," Lumax Group Chairman Deepak Jain said. This development marks a significant milestone in the group's journey towards long-term value creation and providing comprehensive solutions across lighting, plastics, and interiors," he added. "It also reinforces its strategic position within IAC India and expands our footprint on major electric vehicle platforms of leading OEMs such as Mahindra & Mahindra, emphasising our commitment to the future of sustainable mobility ," Jain said. IAC India has five manufacturing plants across the country, including two in Chakan, Pune and one each in Manesar, Nashik and Bangalore. It also has an in-house engineering centre in Pune with key capabilities in product designing and engineering, dimensional engineering, product development, programme management and tooling development, the statement said. The engineering centre has a team of 330 engineers and designers with global experience catering to all tool development requirements from customers as well as from its global sister concerns, it added.
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Business Standard
18-05-2025
- Automotive
- Business Standard
Lumax Auto to acquire remaining 25% stake in IAC India for Rs 221 cr
Auto component supplier Lumax Auto Technologies (LATL) has signed an agreement to acquire the remaining 25 per cent stake in IAC International Automotive India from the International Automotive Components Group (IAC Group) for Rs 221 crore. Following this transaction, IAC India will become a wholly owned subsidiary of LATL. The deal is expected to close by 31 May 2025, subject to customary closing conditions. LATL had previously acquired a 75 per cent stake in the company in March 2023. The IAC Group will continue to provide technology support to IAC India under a technical assistance agreement. IAC India supplies plastic interior systems and components to major automotive OEMs in India, including Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. It is also the exclusive supplier of integrated cockpits and door panels for Mahindra's new battery electric vehicle (BEV) models, the BE6 and XEV 9e. The company operates five manufacturing facilities in Chakan, Manesar, Nashik, and Bangalore. It also has an engineering centre in Pune with over 330 engineers and designers supporting product design, development, programme management, and tooling for both domestic and international customers. LATL is considering a merger of IAC India with itself to unlock operational synergies, subject to regulatory and legal approvals. LATL Chairman Deepak Jain said the acquisition fits into the company's broader strategy to scale its capabilities across lighting, plastics, and interiors, while also expanding its presence on electric vehicle platforms. Managing Director Anmol Jain noted that the full integration would support cost optimisation and create financial flexibility for future acquisitions. KPMG Corporate Finance acted as the exclusive financial advisor for the transaction, while Cyril Amarchand Mangaldas served as legal advisor to LATL. Lumax Auto Technologies, part of the Lumax-DK Jain Group, manufactures a wide range of automotive components including advanced plastics, gear shifters, mechatronics, and lighting systems. It operates 28 plants across India and supplies to clients including Bajaj Auto, Honda, Mahindra & Mahindra, Maruti Suzuki, Tata Motors, and Toyota.
