Lumax Auto Technologies has received approval for the proposed acquisition of Lumax Ancillary (LAL) by acquiring the entire Equity Stake in the Paid up share capital of LAL. The company presently holds 14.31% of the Equity Share Capital of LAL and post the proposed acquisition, LAL would become a wholly owned subsidiary of the company.
Further, the proposed acquisition will help both the companies to leverage their respective competitive strengths in order to drive their business forward in the coming years and work towards unlocking potential synergies across products, customers, technology and manufacturing excellence. The proposed acquisition is expected to be completed by January 2024. The Board of Directors of the Company, at their Meeting held on December 26, 2023, has inter-alia, considered and approved the same.
Lumax Auto Technologies manufactures a wide range of automotive components. The company's products include drive transmission and steering components, body and chassis, and electrical components.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 122.10 |
| Tube Investments | 2745.60 |
| Bosch | 37303.75 |
| UNO Minda | 1077.55 |
| CIE Automotive India | 485.60 |
| View more.. | |
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