Lumax Auto Technologies Limited (NSEI:LUMAXTECH) agreed to acquire 75% stake in IAC International Automotive India Pvt. Ltd. from IACNA Mauritius Limited for INR 4.4 billion on February 18, 2023. The consideration to be paid in cash.

Equity value for 100% interest in IAC India of INR 5.87 billion. For the FY2021-22 The turnover of IAC India is INR 4.8105 billion. The transaction is subject to customary closing review and adjustments as per the Share Purchase Agreement.

The transaction is expected to close by March 2023.