Sundaram Finance Holdings Limited (SFHL) said on Tuesday that its board has approved an acquisition of 4.99 per cent stake in India Motor Parts & Accessories Limited (IMPAL), through the block deal window.
“The Board of Directors of our Company, at the meeting held today approved an acquisition of upto 6,22,752 equity shares of ₹10/- each, representing 4.99% in the paid-up equity share capital of India Motor Parts & Accessories Limited (IMPAL) at the applicable price on the date of the execution of the transaction,” SFHL said in a stock exchange filing.
At prevailing market price of IMPAL, the consideration comes to around Rs 68 crore.
Stakes surge
“Upon successful completion of the proposed acquisition, our company’s stake in IMPAL will increase from 20 per cent to 24.99 per cent,” the company said.
“The proposed transaction is likely to be completed by end June 2026,” it added. SFHL said that the acquisition will enable them to consolidate their holdings in group companies.
SFHL also confirmed that Sundaram Finance Limited does not hold any shares in IMPAL.
SFHL primarily operates as a holding company with a portfolio of automotive businesses, including foundries, wheels, brakes, turbochargers and axles.
IMPAL is one of the few all India distributors of motor parts and deals in engine group components, brake systems, fasteners, radiators, suspensions, axles, and other such equipment. The company’s total revenue as on March 2025 was ₹836 crore.