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Lumax Auto Tech to fully acquire IAC India, boosting auto interiors presence
Industry News- May 21,25
IAC India operates five manufacturing plants across India, with two located in Chakan, Pune, and one each in Manesar, Nashik, and Bangalore. It also houses a state-of-the-art engineering centre in Pune.
Pune
Lumax Auto Technologies Limited (LATL), a prominent tier-1 supplier of automotive systems and components, has entered into an agreement to acquire the remaining 25 per cent stake in IAC International Automotive India Private Limited (IAC India) from International Automotive Components Group (IAC Group). IAC Group will continue supporting IAC India through a technology support arrangement.
IAC India is a well-recognised tier-1 supplier of plastic interior systems and components to major automotive OEMs in India, including Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. It holds a leading position in the vehicle interiors segment and is the exclusive supplier of integrated cockpits and door panels for Mahindra’s new electric models – BE6 and XEV 9e. The company also boasts a strong engineering centre that provides advanced design and development services for both domestic and international clients, giving it a competitive edge.
Deepak Jain, Chairman of Lumax Group, stated that this consolidation will support the company’s strategic ambitions and future expansion by building on a robust foundation. It aims to ensure continuity, improved performance, and scalability. He added that the acquisition signifies a key step in creating long-term value and offering end-to-end solutions across lighting, plastics, and interiors. It also strengthens LATL’s role in major electric vehicle platforms, underlining its commitment to sustainable mobility.
Anmol Jain, Managing Director of Lumax Auto Technologies Limited, commented that the move would reinforce Lumax Auto Technologies’ position in four-wheeler automotive plastics. The integration will allow cost efficiencies and resource rationalisation, enhancing financial agility for future inorganic growth. It will also speed up innovation and strengthen the company’s value addition per vehicle, amid a market trend towards superior interiors in passenger vehicles.
IAC India operates five manufacturing plants across India, with two located in Chakan, Pune, and one each in Manesar, Nashik, and Bangalore. It also houses a state-of-the-art engineering centre in Pune, equipped with capabilities in product design, dimensional engineering, programme management, and tooling. The centre employs 330 engineers and designers with global expertise, meeting tool development needs both locally and internationally.
The deal’s closure, expected by 31 May 2025, is subject to customary closing conditions. Lumax had earlier acquired a 75 per cent stake in IAC India in March 2023. After this transaction, IAC India will become a wholly owned subsidiary of LATL. Lumax plans to evaluate a potential merger of IAC India with itself, in compliance with applicable legal and regulatory norms, to maximise synergies.
KPMG Corporate Finance served as the exclusive financial advisor, and Cyril Amarchand Mangaldas acted as legal counsel to LATL.
Part of the Lumax-DK Jain Group (a leading player in India’s automotive sector), Lumax Auto Technologies Limited offers solutions across lighting, transmission, interior systems, and green technologies. With a turnover of Rs 84.34 billion in FY24, the group has 16 entities in 40 locations and partnerships with 12 global automotive leaders. LATL operates 28 manufacturing plants nationwide and leads in several product segments including gear shift levers and interior systems.
Lumax Auto Technologies
auto components
IAC India
IAC International Automotive India
Deepak Jain
Lumax Group
Anmol Jain
vehicle interior
integrated cockpits
door panels
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