Lucas Indian Service Limited entered a share purchase agreement to acquire an additional 6.25% stake in India Nippon Electricals Limited (NSEI:INDNIPPON) from Mahle Electric Drives Japan Corporation on June 19, 2023. As part of the agreement, Lucas Indian Service will acquire 14,14,786 equity shares of India Nippon Electricals from Mahle Electric Drives Japan. In a related transaction, Lucas Indian Service Limited entered a share transfer agreement to acquire an additional 13.26% stake in India Nippon Electricals Limited from MAHLE Holding (India) Private Limited. Pursuant to this transfer, the shareholding of both MHIPL and MEDJ shall be nil and LIS shall be 70.32%.

Lucas Indian Service Limited completed the acquisition of an additional 6.25% stake in India Nippon Electricals Limited (NSEI:INDNIPPON) from Mahle Electric Drives Japan Corporation on June 26, 2023.