Samvardhana Motherson International Limited (BSE:517334) agreed to acquire an unknown minority stake in Irillic Private Limited on October 20, 2023. The combined deal value is of INR 466 million for both primary infusion and secondary acquisition. As of FY 2023, Irillic reported turnover of INR 37.7 million.

The deal has been approved by board of directors of Samvardhana Motherson International Limited. The deal is subject to satisfactory completion of conditions precedent, and is expected to be completed by December 2023. Niladri Maulik of AZB & Partners acted as legal advisor to Samvardhana Motherson.