Lumax Auto Technologies Limited has informed the Exchange that the Board of Directors at their Meeting held today i.e., Friday, May 08, 2026, have considered and approved the sale of its entire equity stake (alongwith its nominee shareholders) aggregating to 50% of the equity share capital of Lumax Jopp Allied Technologies Private Limited, to Jopp Holding GmbH, Germany, the Joint Venture Partner, subject to completion of customary conditions in terms of the Share Purchase Agreement amongst the Company, Jopp Holding GmbH and Lumax Jopp Allied Technologies Private Limited.
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Lumax Auto Technologies Limited has approved the sale of its entire 50% equity stake (70,55,000 shares) in Lumax Jopp Allied Technologies Private Limited (LJAT) to its Joint Venture partner, Jopp Holding GmbH, Germany. The transaction is expected to complete by June 30, 2026, subject to customary conditions. The JV contributed only 0.35% (Rs. 1,696.98 lakhs) to the company's consolidated revenue and negligible to net worth. The deal consideration is Rs. 1,52,500. Post-completion, LJAT will cease to be a joint venture of the company. Management states this reflects portfolio realignment under their Northstar vision and FY 26-FY 31 Mid-term Plan.
This is a relatively minor transaction as the JV contributed less than 1% to consolidated revenue. The sale is part of management's strategy to focus on core businesses aligned with future growth priorities, which could be viewed positively if it means better resource allocation to higher-margin operations.