Lumax Auto Technologies Limited (NSEI:LUMAXTECH) agreed to acquire remaining 85.69% stake in Lumax Ancillary Ltd from Dhanesh Kumar Jain, Deepak Jain and Anmol Jain and others for approximately INR 490 million on December 26, 2023. Lumax Ancillary reported turnover of INR 1,714,777,000 in FY 2022-23. Board of Lumax Auto Technologies approved the transaction on December 26, 2023. The transaction is expected to be completed by January 2024.

Lumax Auto Technologies Limited (NSEI:LUMAXTECH) completed the acquisition of remaining 85.69% stake in Lumax Ancillary Ltd from Dhanesh Kumar Jain, Deepak Jain and Anmol Jain and others on January 25, 2024. Accordingly, Lumax Ancillary has become a wholly owned subsidiary of Lumax Auto Technologies with effect from January 25, 2024.