Announcement under Regulation 30 (LODR) - regarding acquisition of shares in HK Klemove India Private Limited.
GABRIEL · price
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Gabriel India will buy 3,78,44,999 equity shares (30% minus one share) of HL Klemove India Pvt Ltd from Korea-based HL Klemove Corporation for a total consideration of USD 98.44 million (roughly INR 820+ crore). 75% of the payment (USD 73.83M) will be made upfront at closing (targeted by September 15, 2026) and the remaining 25% (USD 24.61M) will be paid over 18 months. Post-acquisition, HL Klemove India will become a joint venture with HL Klemove holding 70% plus one share and Gabriel India holding 30% minus one share, making it an associate company of Gabriel India. The target company makes autonomous driving products (radar, front camera, lidar, ADAS software) and automotive electronics (ECUs, sensors) and reported turnover of INR 7,998 million in FY25 and INR 10,488 million in FY26 (unaudited). The deal also includes a Joint Venture Agreement and a Corporate Services Agreement with promoter group entity Anand Automotive Pvt Ltd.
This is a strategic entry into the high-growth ADAS and autonomous driving space with a marquee Korean partner, potentially opening a new revenue vertical beyond Gabriel India's existing suspension and ride-control business. Shareholders should view this positively as it diversifies the business into advanced automotive electronics, though the cash outflow of nearly USD 74 million upfront and the minority stake mean benefits will be limited in the short term.