<ul><li>Lumax Auto Technologies Ltd. is set to acquire the remaining 25% stake in IAC India for Rs 221 crore, making IAC India a wholly-owned material subsidiary of the company.</li><li>The acquisition is expected to be completed by May 31, 2025, subject to customary conditions precedent outlined in the Share Purchase Agreement.</li><li>Despite the change in ownership, there will be no alteration in the day-to-day operations, business activities, or management of IAC India, and the IAC Group will continue to provide technology support.</li><li>IAC India, a Tier-1 interior systems and components supplier to key automotive OEMs in India, has a strong engineering center and provides advanced design services to customers in India and overseas.</li></ul>

Lumax Auto To Acquire Remaining 25% Stake In IAC India For Rs 221 Crore

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