Lumax Auto Technologies Approves Sale of Entire 50% Stake in Joint Venture Lumax Jopp Allied Technologies to German Partner

The Board of Directors of Lumax Auto Technologies Limited, at their meeting held on Friday, May 08, 2026, approved the sale of the company's entire equity stake in its joint venture, Lumax Jopp Allied Technologies Private Limited (LJAT), to Jopp Holding GmbH, Germany. The transaction involves the transfer of a 50% equity stake, held by the company along with its nominee shareholders, to the German joint venture partner. Upon completion of the deal, Lumax Jopp Allied Technologies Private Limited will cease to be a joint venture of the company.

Transaction Details

The sale involves 70,55,000 equity shares of Lumax Jopp Allied Technologies Private Limited, each with a face value of Rs. 10/-, held by Lumax Auto Technologies along with its nominees. These shares will be transferred to Jopp Holding GmbH in one or more tranches. The key parameters of the transaction are outlined below:

Parameter: Details Agreement Date: May 08, 2026 Expected Completion: By June 30, 2026 Equity Stake Being Sold: 50% of equity share capital Number of Shares: 70,55,000 equity shares Face Value per Share: Rs. 10/- Total Consideration: Rs. 1,52,500 (Rupees One Lakh Fifty Two Thousand Five Hundred only) Buyer: Jopp Holding GmbH, Germany Buyer's Relationship: Not part of Promoter/Promoter Group/Group Companies Related Party Transaction: No

The completion of the transaction is subject to customary conditions as specified in the Share Purchase Agreement among Lumax Auto Technologies, Jopp Holding GmbH, and Lumax Jopp Allied Technologies Private Limited.

Financial Contribution of Lumax Jopp Allied Technologies

As per unaudited financial statements for the financial year ended March 31, 2026, Lumax Jopp Allied Technologies Private Limited made the following contributions to the consolidated financials of Lumax Auto Technologies:

Metric: Value Contribution to Consolidated Figures Revenue from Operations: Rs. 1,696.98 lakhs 0.35% of consolidated revenue from operations Net Worth: Rs. 3.05 lakhs Rs. 1.53 lakhs (approx) or 0.00% of consolidated net worth

The relatively modest financial contribution of LJAT underscores the limited impact of this divestiture on the consolidated financials of Lumax Auto Technologies.

Strategic Context

The company has stated that this portfolio realignment reflects its continued focus on the Northstar vision and Mid-term plan covering FY 26 to FY 31, enabling sharper focus on businesses more closely aligned with its future growth and financial priorities. The Board meeting commenced at 11:30 A.M. and concluded at 12:55 P.M. on May 08, 2026. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026.

Lumax Auto Technologies has informed stock exchanges that the National Company Law Tribunal (NCLT) New Delhi has reserved its order on the company's merger scheme with IAC International Automotive India Private Limited. The company received the tribunal's order dated April 15, 2026 on April 22, 2026.

NCLT Proceedings Update

The NCLT New Delhi Bench, through its Division Bench comprising Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Ms. Anu Jagmohan Singh, reserved the order with respect to the Second Motion petition. The case reference number is CP(CAA)-13/230-232/ND/2026.

Parameter: Details Order Date: April 15, 2026 Order Received: April 22, 2026 Case Number: CP(CAA)-13/230-232/ND/2026 Hearing Type: Hybrid (Physical & VC)

Merger Scheme Details

The scheme involves the amalgamation between IAC International Automotive India Private Limited (Transferor Company) and Lumax Auto Technologies Limited (Transferee Company) along with their respective shareholders and creditors. The merger is being conducted under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Stakeholder Responses

During the proceedings, various stakeholders presented their positions:

Official Liquidator: Filed their report and stated no specific objection to the scheme if approved

SEBI: Submitted their response with certain observations, which were addressed by the petitioner company through an affidavit. SEBI confirmed no further observations after reviewing the affidavit

Income Tax Department: Filed their report with no specific objections to the proposed merger

Registrar of Companies: Their contentions were recorded in the previous order dated April 8, 2026

Legal Representation

The hearing featured comprehensive legal representation with Mr. P. Nagesh, Senior Advocate, leading the petitioner's case alongside other counsel members. Company Secretary Pankaj Mahendru and Director Sanhay Mehta represented the company during proceedings.

Next Steps

The final pronouncement date for the NCLT order is yet to be listed by the tribunal. The company has made the order copy available on its website at www.lumaxworld.in/lumaxautotech as part of its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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