New Delhi, Auto components maker Gabriel India Ltd is executing two transactions of over Rs 3,165 crore, including acquisition of its promoter’s holding in a joint venture with South Korea’s HL Mando Corporation, according to regulatory filings by the company.
In the first transaction, Gabriel India will acquire 28.99 per cent stake in HL Mando Anand India Pvt Ltd from Asia Investments Pvt Ltd (AIPL), promoter and holding company, for a “composite consideration of Rs 2,231 crore” out of which Rs 350 crore will be in cash and balance consideration by way of preferential issuance of equity shares, as per a company regulatory filing on Tuesday.
As part of the transaction, Gabriel India will allot 1.44 crore equity shares of the company to AIPL on a preferential allotment basis, constituting 7.52 per cent of the post-issue paid-up share capital at an issue price of Rs 1,305.89, per equity share aggregating to Rs 1,881.03 crore.
HL Mando Anand India Pvt Ltd (HMAI) is a joint venture between HL Mando Corporation, Korea with 71.01 per cent stake and Asia Investments Pvt Ltd (AIPL) with 28.99 per cent stake. AIPL is part of the Anand Group and is a promoter of Gabriel India Ltd.
After the transaction, AIPL’s shareholding in Gabriel India will increase from 42.67 per cent to approximately 46.98 per cent, the filing said.
HMAI produces a range of components, including electric power steering systems, shock absorbers and driver assist systems among others.
In another transaction, Gabriel India’s board has also approved acquisition of “30 per cent minus one equity share stake” in HL Klemove India, an autonomous driving solutions provider, from HL Klemove Corporation, Korea for Rs 935 crore, the company added.
Commenting on the transactions, Gabriel India Executive Chairperson Anjali Singh said,”The proposed investments in HL Mando and HL Klemove India represent a defining milestone in Gabriel India’s evolution and a significant step towards building a simpler, more integrated, and future-ready automotive enterprise.”
These investments strengthen Gabriel India’s position as a comprehensive mobility platform by bringing together complementary capabilities across the automotive value chain, she added. “This expanded portfolio enhances our competitiveness, unlocks meaningful synergies, and creates a stronger foundation for sustainable growth. Importantly, it advances our strategic direction of building Gabriel India into a diversified, technology-led mobility company with a broader presence across high-growth automotive segments,” Singh noted. As the automotive industry undergoes rapid technological transformation, Gabriel India is well placed to capitalise on opportunities in next-generation mobility, she said. PTI
