Lumax Auto Technologies has completed the acquisition of entire equity stake i.e. 100% of the Paid-up Share Capital of Lumax Ancillary (LAL) on January 25, 2024. Accordingly, LAL has become a wholly owned subsidiary of the Company with effect from January 25, 2024.
Further, the 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.
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.
