New Delhi: Lumax Auto Technologies Limited (LATL), a leading Tier-1 automotive systems and components manufacturer, has announced the acquisition of the remaining 25% stake in IAC International Automotive India Private Limited (IAC India) from the International Automotive Components Group (IAC Group).
With this transaction, LATL will become the sole owner of IAC India, consolidating its presence in the automotive interior systems space.
This strategic acquisition comes with a continued technology support agreement from IAC Group, ensuring seamless operational continuity and access to advanced global innovations.
IAC India, a key supplier of plastic interior components to top OEMs such as Mahindra & Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles, plays a pivotal role in India’s evolving automotive landscape.
It is the exclusive supplier of integrated cockpits and door panels for Mahindra’s newly launched BE6 and XEV 9e electric vehicle models, demonstrating its leadership in EV interior solutions.
Commenting on the acquisition, Deepak Jain, Chairman, Lumax Group, said, “This consolidation supports our strategic vision of long-term value creation and strengthens Lumax’s integrated offering across lighting, plastics, and interiors. It expands our footprint across key EV platforms and reinforces our commitment to sustainable mobility.”
Anmol Jain, Managing Director, Lumax Auto Technologies, added, “This move enhances our capabilities in four-wheeler automotive plastics and enables greater cost efficiency, resource optimisation, and future innovation. The integration also supports our broader goal of increasing per-vehicle value, especially with the rising demand for premium interiors.”
IAC India operates five manufacturing plants located in Chakan (2 units), Manesar, Nashik, and Bangalore, and has a highly specialised engineering centre in Pune.
The centre boasts 330 engineers and designers offering end-to-end product development, dimensional engineering, and tooling solutions for both domestic and international clients.
Lumax had previously acquired a 75% stake in IAC India in March 2023. With the completion of the current acquisition by 31 May 2025 (subject to standard regulatory approvals), IAC India will become a wholly owned subsidiary of LATL. Lumax Auto Technologies also intends to explore a possible merger of IAC India with itself to unlock additional synergies, subject to legal and regulatory approvals.
Legal Advisors to Lumax Auto Technologies
KPMG Corporate Finance acted as the exclusive financial advisor for the transaction, while Cyril Amarchand Mangaldas served as legal advisors to LATL.
