Lumax Auto Technologies Limited — Board Meeting, 16-05-2025: Outcome of Board Meeting

Lumax Auto Technologies has announced a board meeting to approve acquiring the remaining 25% stake in IAC International Automotive India, making it a wholly owned subsidiary. IAC India, a Tier-1 supplier to Mahindra and Maruti Suzuki, posted revenues of INR 886 Cr in FY24. The acquisition, valued at around INR 221 Cr, is set to complete by end-May. This move will strengthen Lumax’s position in automotive interior systems, with IAC India continuing operations backed by technology support from the IAC group.