Lumax Auto Tech to acquire remaining 25 pc stake in IAC India for Rs 221 cr

Lumax Auto Technologies Ltd is set to acquire the remaining 25% stake in IAC International Automotive India Pvt Ltd for Rs 221 crore, making it a wholly-owned subsidiary by May 31, 2025. This acquisition will strengthen Lumax's strategic position and expand its footprint, particularly in the electric vehicle sector with leading OEMs like Mahindra & Mahindra.