Gabriel India to Acquire Promoter Stake in JV with South Korea's HL Mando Corp

 Auto components maker Gabriel India Ltd is executing two transactions of over ₹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% stake in HL Mando Anand India Pvt Ltd from Asia Investments Pvt Ltd (AIPL), promoter and holding company, for a "composite consideration of ₹2,231 crore" out of which ₹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% of the post-issue paid-up share capital at an issue price of ₹1,305.89, per equity share aggregating to ₹1,881.03 crore.

HL Mando Anand India Pvt Ltd (HMAI) is a joint venture between HL Mando Corporation, Korea with 71.01% stake and Asia Investments Pvt Ltd (AIPL) with 28.99% 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% to approximately 46.98%, 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% minus one equity share stake" in HL Klemove India, an autonomous driving solutions provider, from HL Klemove Corporation, Korea for ₹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