Lumax Group has announced that its Board of Directors, in a meeting on May 16th 2025,
approved the acquisition of the remaining 25% stake in IAC International Automotive India
Private Limited ("IAC India") from IACG Holdings LUX SARL (“IAC Lux”). The transaction,
subject to customary closing conditions, will result in IAC India becoming a wholly-owned
material subsidiary of Lumax Group.
The acquisition will be executed under a Share Purchase Agreement involving Lumax
Group, IAC India, IAC Lux, and International Automotive Components Group North America
Inc. (“IAC NA”).
Key Details of the Acquisition:
-
● Target Entity: IAC India is currently 75% owned by Lumax and 25% by IAC Lux.
- FY 2021-22: ₹468 Crores
- FY 2022-23: ₹801 Crores
- FY 2023-24: ₹886 Crores
● Nature of Business: A Tier-1 supplier of interior systems and components to leading
automotive OEMs in India, including Mahindra, Maruti Suzuki, Volkswagen, and
Volvo Eicher Commercial Vehicles. It also houses a strong engineering center that
provides advanced design services domestically and globally.
● Financials:
Transaction Considerations:
-
● Form of Consideration: Cash
● Acquisition Value: Approximately INR 221 Crores for the 25% equity stake
● Completion Timeline: Expected by May 31, 2025
● Regulatory Approvals: No governmental or regulatory approvals are required for
this acquisition