Lumax Auto To Take Full Control Of IAC India With Remaining Stake Buyout

After the deal is completed, IAC India will become a wholly owned subsidiary of Lumax Auto Technologies. IAC Group will continue to provide technical support to IAC India through a separate agreement.

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IAC India supplies plastic interior systems and components to several major automakers, including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles. It is also the exclusive supplier of integrated cockpit and door panel systems for Mahindra’s recently launched BEV models, BE6 and XEV 9e.

IAC India operates five manufacturing plants located in Chakan (Pune), Manesar, Nashik and Bangalore. It also runs an in-house engineering centre in Pune. The centre employs 330 engineers and designers and provides product design, development and tooling services to clients in India and abroad.

The transaction is subject to standard regulatory and contractual approvals and is expected to close by 31 May 2025. LATL is also considering a possible merger of IAC India with its own operations in line with legal procedures to align operations.

Deepak Jain, Chairman, Lumax Group, said, “The consolidation will strengthen our strategic vision and enable future growth, building on the strong foundation to drive continuity, performance, and scalability. This development marks a significant milestone in our journey towards long-term value creation and providing comprehensive solutions across lighting, plastics, and interiors. It also reinforces its strategic position within IAC India and expands our footprint on major Electric Vehicle platforms of leading OEMs such as Mahindra & Mahindra, emphasising our commitment to the future of sustainable mobility.”