EVENTS Lumax Auto Technologies Limited, a leading Tier-1 automotive systems and components supplier, has signed an agreement to acquiring majority stake in IAC International Automotive India Private Limited (IAC India) from the International Automotive Components Group (IAC Group). The IAC Group is a leading global supplier of powertrain-agnostic automotive interior and exterior systems and components including instrument panels, cockpits and consoles, door and trim systems, headliner and overhead systems and other interior and exterior components. With global revenues in excess of USD 3 billion, the IAC Group is a strategic supplier to leading automotive OEMs across the world and operates 45 manufacturing facilities across 17 countries. Partnership with IAC India Key Highlights Acquisition took place at an equity valuation of Rs 587 crores, and IAC will continue to hold 25% stake. 75% of the stake bought at Rs 440 crores. IAC India has 5 manufacturing facilities & 1 engineering centre with a strength of 150 engineers for entire product design & development.