Shares of ASK Automotive fell by 5.4 percent to its day’s low of INR 442.05 on the BSE on 26 September 2024 as the automotive supplier’s INR 5.16 million Offer For Sale (OFS) opened for subscription for the non-retail category.

The floor price for the issue has been set at INR 433 per share and 119,271 shares are available for subscription. At this price, the total size of the issue would come to is INR 5.16 million.

Claimed to be India’s largest manufacturer of brake shoes and advanced braking systems (ABS) for two-wheelers with a market share of about 50 percent in FY2022-23 in terms of production volume for OE and organised aftermarket, Delhi NCR-based ASK Automotive expanded its manufacturing footprint recently to supply to electric two-wheeler products from OEMs like TVS Motor Company, Ather Energy, Hero MotoCorp, Greaves Cotton, Bajaj Auto and Revolt.

While it increases its market share in what is considered to be an extremely competitive and ruthless market place, its promoter Kuldip Singh Rathee is said to be keen to sell a 6.05 percent equity position through an OFS on 27 September 2024.

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Tier 1 supplier Uno Minda has introduced its new line of car care products designed for the booming Indian automotive aftermarket. This strategic move responds to the increasing demand from Indian consumers for high-quality, DIY maintenance solutions for their vehicles.

The Indian car care market is expanding rapidly, fuelled by a growing number of vehicle owners with higher disposable incomes who are focused on maintaining the appearance and resale value of their cars. Consumers are also increasingly aware of the need for products that can protect their vehicles from India's diverse climate, from harsh monsoon rains to scorching summer heat.

The new product line from Uno Minda offers a wide variety of solutions for both interior and exterior car maintenance. The lineup includes a Car Exterior Wash Shampoo, a Waterless Wash for quick clean-ups and a Car Exterior Polish to give a radiant shine.

For interior care, the products include an Anti-Bacterial Interior Foam and Car AC Vent Hygiene Foam with silver nano technology to ensure a clean cabin. The range also features a Glass Anti-Fog Spray and a Windshield Cleaner Foam to improve visibility and safety during adverse weather conditions.

Karna Markan, Head of Sales & Distribution (Accessories) at Uno Minda, “Our entry into the Auto Care segment reflects Uno Minda's commitment to advancing alongside our customers. With the automotive care sector growing rapidly and consumers increasingly prioritising vehicle maintenance, there is a growing demand for trusted brands. The new car care line offers features for both internal and external applications. Internally, the Anti Fog Demister ensures windshields and windows remain clear of fog and mist, promoting safe driving in adverse weather and reducing eye fatigue. A highly effective foam cleaner removes dirt, grime, bugs, road residue and contaminants from car windshields, enhancing visibility and safety. Externally, the line includes a thorough car wash that gently cleans and restores the vehicle's paint, leaving it brilliantly gleaming and protected with a radiant gloss. These products are formulated with wash-active agents to effectively eliminate road debris, dust, oily residues and greasy contaminants without a trace, ensuring vehicles maintain their pristine appearance and durability."

The products are formulated with ‘wash-active agents’ to effectively remove road debris, dust and oily residues without damaging the vehicle's finish. They are also designed to be easy for consumers to use at home.

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AutoDukan, a digital aftermarket platform, has announced that it has secured USD 1 million in a pre-Series A funding round to expand its AI-driven services across the country.

The startup, which specialises in spare parts procurement, insurance claim processing and multi-brand workshop enablement, plans to use the new capital to scale its operations, enhance its AI technology and deepen its partnerships with insurers, fleet operators and OEM suppliers.

The funding round was led by the Choice Group and a number of high-net-worth individuals, with continued support from MetroMax Group's Indian arm and angel investor Ankit Sajnani. This latest investment follows earlier funding rounds backed by Rohit Goyal, Windrose Capital and NRI investor Raghu Venkatraman.

Gunjan Ruparelia, Co-Founder and CEO, AutoDukan, said, “Our latest investment validates our AI-first approach to solving a deeply fragmented market. We’re not just digitising procurement, we are building an intelligent backbone for the automotive repair and insurance ecosystem.”

Sumit Desai, CTO, said, “AI allows us to anticipate demand and match parts instantly. This funding helps us bring that efficiency to India’s largest automotive regions.”

Pranay Tagare, COO, said, “We’re driving data-driven precision into a traditionally manual industry. AutoDukan’s AI platform delivers speed, transparency and trust at scale.”

“We are excited to lead AutoDukan’s Pre-Series A round. The company’s AI-driven approach addresses real inefficiencies in India’s automobile aftermarket, and we are confident it will transform spare part procurement and insurance claim workflows nationwide.” said Choice Group.

AutoDukan claimed it achieved a 10x growth over the last two years, attributing its success to its AI platform, which provides data-driven precision, speed and transparency. The platform was first adopted by one of India's largest insurance players, demonstrating its potential to transform the nation’s automobile aftermarket.

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Lubrizol has announced the appointment of Abhishek Shrivastava as its new Managing Director for India, the Middle East and Africa (IMEA).

The company said that he comes with extensive experience and technical expertise to accelerate growth and enhance its support for customers throughout the region.

In his new role, Shrivastava will oversee Lubrizol’s regional strategy, focusing on fostering local innovation, strengthening manufacturing and supply chain capabilities and developing the company's talent pool. He brings nearly two decades of experience in business transformation, R&D and technical leadership. Most recently, he served as Lubrizol's Vice-President, Innovation and Decision Science, where he was instrumental in developing sustainable and digital innovation capabilities.

Rebecca Liebert, Lubrizol's President and CEO, said, "Abhishek’s appointment reflects the strategic importance of the IMEA region for Lubrizol’s future. His deep industry knowledge, technical expertise, and ability to align innovation with customer needs make him ideally suited to support the region’s growth potential and strengthen our presence across these key markets."

Shrivastava will be responsible for driving a ‘local-for-local’ model, enabling regional teams to identify and capitalise on market-specific opportunities. He will also work closely with global and regional leadership to deepen engagement with customers, suppliers, and other stakeholders across the IMEA markets.

"India, the Middle East and Africa are dynamic regions, full of opportunity and home to exceptional talent. Lubrizol has a strong legacy here, and we are committed to furthering localised innovation, regional collaboration and impactful partnerships. As industries evolve, we remain dedicated to collaborating closely with our stakeholders and developing solutions that address local needs," Shrivastava commented.

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Valvoline Cummins and Mahindra & Mahindra have announced a new strategic collaboration, deepening a relationship that has spanned over two decades. Under a new four-year agreement, Valvoline Cummins will now be the primary supplier of genuine lubricants for Mahindra's aftermarket business, including products sold under the Mahindra - Maximile brand.

This partnership will see Valvoline Cummins supply a range of high-performing lubricants, such as engine, transmission and axle oils, specifically tailored for Mahindra’s entire fleet of passenger vehicles, SUVs and pickups. These products will be distributed through Mahindra's expansive dealership and ‘Bazar’ networks in India's North, West and East zones.

Sandeep Kalia, Managing Director, Valvoline Cummins, said, “As a trusted partner with Mahindra for the past decade, we are excited for this evolution of our relationship. Today marks a major milestone that will enable significant business growth and reflects further confidence in our people, technology, innovation, serviceability and continuous commitment to customer centricity as a core value.”

Michael Dreyer, Senior Vice-President, Valvoline Global Operations, added, “Mahindra is fast becoming a trusted global brand, and Valvoline is well positioned to collaborate across geographies and support their global ambitions. This strategic agreement unites two trusted names with a shared focus on performance, innovation and sustainability. As Valvoline expands its role within the Mahindra ecosystem, the collaboration is set to deliver enhanced value across vehicles, and customer experiences — setting new benchmarks for excellence in automotive lubricant solutions.”

In a move that aligns with the sustainability goals of both companies, Valvoline Cummins will also introduce Post-Consumer Recycled (PCR) packaging for its products supplied to Mahindra, reinforcing their commitment to responsible business practices and environmental stewardship.

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