# Lumax Auto Technologies to acquire majority stake in IAC Group's India business

Lumax Auto Technologies signed an agreement to acquire a 75% stake in IAC International Automotive India Private Limited from IAC Group at an equity valuation of INR 587 crore. The acquisition will be funded by debt and internal accruals.

- Type: Acquisition
- Announced: 2023-02-20
- Where: India
- Value: $71.0M (5.87B INR)
- Status: announced
- Products: automotive interior and exterior systems, instrument panels, door and trim systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [International Automotive Components](https://endata.com/companies/20983.md) (partner)
- [Lumax Auto Technologies](https://endata.com/companies/38681.md) (acquirer)
- [IAC Ltd](https://endata.com/companies/58571.md) (target)
- [IAC International Automotive India](https://endata.com/companies/68655.md) (target)

## Sources

- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/auto-technology/lumax-auto-technologies-to-acquire-majority-stake-in-iac-groups-india-business/98098402), 2023-02-20: "The acquisition will take place at an equity valuation of INR 587 crore."
- [etnownews.com](https://www.etnownews.com/markets/et-now-spotlight-auto-ancillaries-in-focus-india-is-very-strong-market-article-98665999), 2023-03-15: "Lumax Auto Technologies will acquire 75% stake in IAC Group’s India business for Rs 587 crore at EV/EBIDTA 6.2x (CY22)."
- [magzter.com](https://www.magzter.com/stories/automotive/Autocar-Professional/LUMAX-AND-IAC-TO-CODEVELOP-INTEGRATED-SOLUTIONS-FOR-OEMS), 2023-03-16: "On February 20, 2023, Lumax Auto Technologies (LATL) signed a strategic agreement to acquire a majority stake in IAC International Automotive India (IAC India) from the International Automotive Components Group (IAC Group)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.