# Lucas Indian Service to increase stake in India Nippon Electricals to 70%

Lucas Indian Service Ltd. agreed to acquire over 44 lakh shares from Mahle Holding (India) Pvt. Ltd. and Mahle Electric Drives Japan Corporation for a total consideration of ₹168.91 crore, increasing its stake in India Nippon Electricals Ltd. from 50.80% to 70.32%.

- Type: Acquisition
- Announced: 2023-06-24
- Where: India
- Status: announced
- Products: electronic ignition systems for two-wheelers and three-wheelers
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Lucas Indian Service](https://endata.com/companies/71042.md) (acquirer)
- [India Nippon Electricals](https://endata.com/companies/71043.md) (target)
- [Mahle Holding (India)](https://endata.com/companies/71044.md) (partner)
- [Mahle Electric Drives Japan Corporation](https://endata.com/companies/71045.md) (partner)

## Sources

- [thehindu.com](https://www.thehindu.com/business/lucas-indian-service-to-up-stake-in-india-nippon-electricals-to-70/article67005281.ece), 2023-06-24: "Lucas Indian Service Ltd. (LIS), one of the promoters of India Nippon Electricals Ltd. (INEL), has agreed to acquire more than 44 lakh shares from two other promoter entities for a total consideration of ₹168.91 crore."

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