Date: August 26, 2026

Strategic Joint Venture Announcement

Gabriel India Limited has entered into a strategic joint venture with South Korea-based HL Klemove Corp. through the acquisition of 30% less one (1) share of the total paid-up share capital of HL Klemove India Private Limited. The acquisition involves purchase of 3,78,44,999 equity shares of the Target Company from HL Klemove Corp.

Transaction Details

  • Acquisition stake: 30% less one share (3,78,44,999 equity shares)
  • Purchase consideration: US$98.44 million (approximately ₹935 crore)
  • Target company: HL Klemove India Private Limited
  • Seller: HL Klemove Corp., a Company established under the law of Korea

Business Scope of Joint Venture

Through HL Klemove India, Gabriel India Limited will develop, manufacture, and sell a range of advanced mobility solutions including:

  • Radar systems
  • Front cameras
  • Lidar systems
  • Automated driving and parking control units
  • Embedded ADAS software
  • Automotive electronics products including:
  • Brake ECUs
  • Steering ECUs
  • Chassis control units
  • Torque sensors

Strategic Rationale

The partnership represents a significant step in Gabriel India's strategy to:

  • Expand presence across high-growth automotive segments
  • Participate in growing demand for Autonomous Driving Solutions including Advanced Driver Assistance Systems (ADAS)
  • Broaden participation in Automotive Electronic Products
  • Accelerate transformation into a diversified mobility solution conglomerate
  • Foster deeper OEM engagement
  • Expand participation in future mobility solutions

Management Commentary

Mr. Jaisal Singh, Vice Chairman of ANAND Group (spearheads group's M&A): "As a key growth engine of the ANAND Group, Gabriel India is focused on building scale, enhancing competitiveness, and broadening its presence across high-growth automotive segments. Our latest joint venture with HL Klemove represents a strategic step forward in this endeavour."

Mrs. Anjali Singh, Executive Chairperson of ANAND Group and Gabriel India Limited: "Bolstering our position across critical automotive systems while expanding our participation in future-oriented mobility and automotive technology segments, this new JV for Autonomous Driving and Automotive Electronics marks an important inflection point, enabling Gabriel India to further diversify its portfolio and strengthen its participation in emerging mobility segments."

Mr. Mahendra K Goyal, Group Chief Executive Officer of ANAND and Managing Director of Gabriel India Limited: "Beyond unlocking new opportunities for growth, this collaboration will foster deeper OEM engagement, expand our participation in future mobility solutions and create enduring value for all stakeholders."

About HL Klemove

HL Klemove is a South Korea-headquartered autonomous driving and automotive electronics solutions company with:

  • End-to-end capabilities across perception, decision and control
  • Portfolio spanning advanced sensing technologies including radar and cameras
  • High-performance computing and control units
  • ADAS software
  • Automotive electronic control products including braking and steering controllers
  • Leading position in Korea's autonomous driving market
  • Strong track record of pioneering ADAS technologies
  • More than 2,700 patents
  • Global manufacturing and R&D network across Korea, United States, China, India and Mexico
  • Revenue of approximately KRW 1.8 trillion in 2025
  • First company in India to localize production of both ADAS radar and smart cameras

Context of Gabriel India's Diversification Strategy

Gabriel India Limited has been steadily diversifying its portfolio through strategic joint ventures in high-growth segments including:

  • Sunroofs
  • Lubricants
  • EV fluids
  • Precision fasteners

The partnership with HL Klemove builds on this momentum, broadening Gabriel India's participation in the rapidly evolving Autonomous Driving and Automotive Electronics space.

Corporate Background

ANAND Group: $2.2+ billion (approximately ₹22,000 crore) conglomerate founded in 1961, comprising 25 operating companies including 15 joint ventures and 4 technical collaborations. Employs more than 22,000 people across 87 locations in India.

Gabriel India Limited: Flagship company of ANAND Group, established in 1961, market leader in ride control products including shock absorbers, struts, and front forks. Serves two and three-wheelers, passenger cars, commercial vehicles, and railways. Footprint across 25 countries including Belgium, USA, Australia, Netherlands, Latin America, and Africa.