Lumax Auto Technologies Limited has informed the Exchange about Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Sale of Stake in Lumax Jopp Allied Technologies Private Limited
LUMAXTECH · price
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Lumax Auto Technologies has approved the sale of its entire 50% equity stake in Lumax Jopp Allied Technologies Private Limited (LJAT) to its Joint Venture Partner, Jopp Holding GmbH of Germany. The transaction involves selling 70,55,000 equity shares for a total consideration of Rs. 1,52,500 (approximately Rs. 1.53 lakhs). LJAT contributed only 0.35% (Rs. 1,696.98 lakhs) to the company's consolidated revenue. The deal is expected to close by June 30, 2026, subject to customary conditions. Post-completion, LJAT will cease to be a joint venture of the company. The company stated this as portfolio realignment aligned with their Northstar vision and FY 26-31 Mid-term plan.
Minimal financial impact on Lumax Auto Technologies given LJAT contributed only 0.35% of consolidated revenue. The divestiture allows the company to focus on businesses more aligned with its growth priorities, though the stock movement is likely to be neutral to slightly positive as it reduces a non-core holding.