AI assistant
Lumax Auto Technologies Ltd. Capital/Financing Update 2019
62451_rns_2019-04-11_300f0579-aaf8-4b1e-8881-625479c4b1c1.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
LATL: BSE:NSE:2019-20 Date : 11.04.2019
Ist Floor, Rotunda Building Listing Department PJ. Towers, Dalal Street, Fort Exchange Plaza, C-1 Block G, Mumbai -
BSE Limited The National Stock Exchange of India Limited 400 001 Bandra Kurla Complex, Bandra (E), Mumbai-400051
Company Code: 532796 Company Code: LUMAXTECH
Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Sir/Ma'am,
In the terms of the provisions of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that the Company has signed a Joint Venture Agreement with Jopp Holding meH, Germany for manufacturing and sale of the Automotive components such as Shift Tower (Mannual & Automated)/ Shift Forks & All Gear Sensor Assembly.
The details required under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September 2015 are given in Annexure-A.
The copy of press release is also enclosed as per Annexure—B.
The above information shall also be available on the website of the Company i.e. www.lumaxautotech.com.
This is for your information and records.
Thanking you,
Yours faithfully, For L A)_(_AUTO TECHNOLOGIES LIMITED
ASHISH DUBEY CHIEF FINANCIAL OFFICER
Lu max Auto Technologies Limited Plot No. 70, Sector No. 10, PCNTDA, T +91 20 66304606 Bhosari Industrial Area. E sharesré'vlumaxmailcom Pu ne — 411026 Maharashtra, India www.lumaxworldJn
Lumax Auto Technologies Limited -REGD. OFFICE : Plot No. 70. Sector—10. Bhosari, Pune — 411026 T - +91 20 66304606. E [email protected] GROUP
L31909MH1981PLC025519
CIN:
Annexure-A
| S. No. | Particulars of Events | Details |
|---|---|---|
| a) | name(s) ofparties withwhom theagreement is entered; | Lumax Auto TechnologiesLimited (LATL)i)JOPP Holding meH,Germanyll)(JOPP) |
| b) | thepurpose ofenteringintoagreement; | Setting up ofa Joint Venture CompanyinfortowerofshiftIndiamanufacturing(manual & automated)/shiftforks, A gearsensor assembly. |
| c) | shareholding, ifany, in thewithentitywhom the agreementis executed; | Lumax Auto TechnologiesLimited will holdi)ofthe50% of total EquityShare Capitalproposed Joint Venture Company.Germany will hold 50%ii) Jopp Holding meH,of total Equityof the proposedShare CapitalJoint Venture Company. |
| d) | significant terms ofthe agreement(intobrief) special rights like righttodirectors, firstshareappointrightsubscription in case ofissuance ofshares, right torestrict anychange incapital structureetc.; | There shall be five (5)Directors on the Boardcomprising of three (3)LATL Directors, one ofDirector and two (2)them beingthe ManagingofJOPP Directors. Anychange in compositionBoard shall 'beagreed between the'Part'ies inwriting. Capital contribution wrll continue In theratio of the agreedproportion. |
| e) | the said partiesrelatedarewhether,topromoter/promotergroup/manner. Ifgroup companies in anyyes, nature ofrelationship; | Germany is not related toJOPP HoldinngbH,promoter/ promoter grOUp/ group companiesi"any manner. |
| 1') | whetherthetransactionwouldfallwithinrelatedtransactions?Ifpartyyes, whetherthesame is done at"arms length"; | N0 |
| g) | in case ofissuance ofshares totheparties, details ofclass ofissue price,shares issued; | The Joint Venture Companywill initiallyissueequity shares to both the parties(in agreedequity proportion) at parvalue i.e. Rs. 10/-perequity share. |
| h) | disclosures related toany othersuchagreements, viz., details ofnomineeboard ofon thedirectors ofthe listedofconflictinterestentity,potentialarising outofsuch agreements,etc; | Not Applicable |
|---|---|---|
| in case ofterminationor amendmentofagreement, listed entityshalldisclose additional details tothestockexchange(s):a) name ofparties tothe agreement;b) nature oftheagreement;c) date ofexecution oftheagreement;e) details ofamendment and impactthereofor reasons ofterminationthereof.and impact | Not Applicable |
For LUMAX AUTO TECHNOLOGIES LIMITED
ASHI it?" BEY
CHIEF FINANCIAL OFFICER
Lumax Auto Technologies Ltd, India and JOPP, Germany Announce Joint Venture Company Lumax JOPP Allied Technologies, to Provide Shift towers & Integflrted sensor systems to the indian Automotive industry
11th April, 2019, NEW DELHI: Lumax DK Jain Group company, Lumax Auto Technologies Limited today announced its joint venture with JOPP, Germany to manufacture and supply transmission products to the Indian automotive industry. Under the Joint Venture, both the partners will hold an equal 50% share in the new entity to be named Lumax JOPP Allied Technologies. While JOPP will bring the world class technology for its products to joint venture, Lumax will provide its 7 decades' rich experience towards management of the JV in India. Focus ofJV is towards self-reliance in technology & establish a state of art R&D centre in India along with manufacturing operations.
Mr. Martin BiJchs, Managing Director & Promoter and Mr. Richard Diem, Managing Director ofJOPP, and Mr. Anmol Jain, Managing Director and Mr. Deepak Jain, Promoter Director signed the Joint Venture agreement. The JV will engage in design, development and production of Gear Shift Towers, Automated Manual Transmission (AMT) Kits, All Gear Sensor (AGS) and Forks to start with. Commercial production is expected to begin in Q4 of FY 20 from an existing Lumax facility in Manesar, Haryana. The JV company will make an investment of Rs 75 crores over a period of 5 years.
JOPP is a European company with expertise in transmission & shift systems parts serving OEMs worldwide. Gear Shift Systems are a major focus area with high in-house value add for Shift Towers, Integrated all gear sensor technology & AMT kits for various applications for Manual & Automated transmissions.
Speaking on the occasion Mr. DeepakJain, Promoter Director said "We continue to forge partnerships with global leaders, in JOPP we have found a reliable partner, sharing the same values, ethos and a strong legacy."
With the'JV, Lumax will get the full access to JOPP product know—how in Manual, Automated and Dualclutch transmissions. Lumax along with its other JV companies & new JV with JOPP can now offer complete transmission shifting solutions to its customers in the Indian market including sophisticated, light-weight and smart shifting solutions for additional comfort in Indian mid segment vehicles.
Mr. Martin Blichs, Managing Director, JOPP said, "We believe that this joint venture will allow us to provide a wider array of services with world class technology and depth to a large growing market. We conducted an extensive search to find a strong, dynamic, technologically strong partner with a pan India footprint and customer connect. Lumax was the perfect fit.
"Shift function is the most important part of transmission. The JV focuses on Manual and Automated shift tower kits. Being a market leader in shift levers in India, it was a natural progression for Lumax to become a Shift system supplier. This brings immense technical edge to Lumax as the single supplier responsible for "shift feeling." said Mr. Anmol Jain, Managing Director, Lumax Auto Technologies Limited.
The signing ceremony was conducted in the presence of the Indian automotive manufacturers, which reflects their support and commitment towards this decision.
About Lumax, DK Jain Group:
Lumax, DK Jain Group a leading player in the Indian Automotive industry is a provider of a wide range of automotive solutions (Lighting Module, Frame Chassis, Integrated Plastic Modules, Gear Shift Lever, Intake systems, Seat Frames & Mechanisms etc). With a market share of 60% in automotive Lighting solutions and Gear Shift levers, Lumax has been the preferred supplier to almost all the leading OEMs in India. The group with a sales turnover of INR 2950 crores (2017-18), has 8 Partnerships with leading companies in the global automotive industry, having 13 entities spread across 28 locations and 8 states of the country.
For more information about the Group and its businesses, please visit our website www.lumaxworld.in
Lumax Auto Technologies: Lumax Auto Technologies Ltd. through its wholly owned subsidiaries and joint ventures, has been a manufacturer of wide range of products (Lighting Module, Frame Chassis, Integrated Plastic Modules, Gear Shift Lever, Intake systems, Seat Frames & Mechanisms etc). We are market leaders in Design, Testing and Manufacturing Gear Shift levers in India with an overall significant domestic market share. The Company has a robust pan-India distribution network with 14 manufacturing plants across India in all major Auto clusters. Our key customers include Bajaj Auto, Honda Motorcycles and Scooters, Maruti Suzuki, Honda Cars, Toyota, Mahindra & Mahindra, Daimler, VE Commercial Vehicles and Tata Motors.
For more information on the company and its business, please visit our website www.lumaxautotech.com
JOPP Group:
As a business partner for the automotive industry, JOPP develops gearshift systems, gear knobs and plastic components which are produced throughout the world. JOPP produces precision-machined parts and powder metal parts as well as complete electronic assemblies and leather parts for interior applications for use by suppliers of the automotive industry. With more than 1,900 employees the corporate group currently generates annual sales of Euro 205 million at 12 locations worldwide.
Safe Harbor:
This document may contain forwa rd-looking statements about Lu max Auto Technologies Limited & its subsidiaries, which are based on the beliefs, opinions, and expectations of the company's management as the date of this press release and the companies do not assume any obligation to update their forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward—looking statements.
| information, please contactLumax: Forfurther | |||
|---|---|---|---|
| Company Contact: | Growth AdvisorsInvestor Relations: Strategic | ||
| Lumax Auto TechnologiesLtd. | Pvt Ltd. CIN No: U74140MH2010PTC204285 | ||
| L31909MH1981PLC025519CIN: | Shogun Jain | ||
| Priyanka Sharma | Email: [email protected] | ||
| Email: [email protected] | Tel No: +91 773837756 | ||
| Tel No: +91 9810266637 | Shrikant Sangani | ||
| Email:[email protected] | |||
| Tel No: +91 96195 95686 |
