![\"Gabriel](\"https:\/\/static.toiimg.com\/thumb\/msid-132550278,imgsize-1143677,width-400,height-225,resizemode-4\/132550278.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nMUMBAI: Anand Group, the over $3 billion auto components conglomerate, is undertaking two linked transactions worth about Rs 3,180 crore through listed flagship Gabriel India that will lift promoter Anjali Singh and family’s stake in the company to 68% and deepen its footprint in the sector.Gabriel will buy out the Singh family’s 29% stake in HL Mando Anand India for Rs 2,231 crore. The family holds the stake through Asia Investments (AI), also a Gabriel promoter entity. South Korea’s HL Group holds the remaining 71%.Gabriel will pay Rs 350 crore in cash to AI and issue shares worth Rs 1,881 crore for the balance, at an allotment price of Rs 1,305.89 apiece. Gabriel’s scrip closed at Rs 1,493.4 on the BSE on Tuesday. The share issuance will take the Singh family’s stake in Gabriel to 68%, from 64% currently.Separately, Gabriel will acquire a “30% minus one share” in HL Klemove India, an autonomous driving solutions maker owned by HL Group, for Rs 945 crore – giving the company its entry into the segment. HL will retain “70% plus one share” in HL Klemove after the sale.Anand Group was founded by Singh’s father, Deep Anand, in 1961. He set up Gabriel in collaboration with the US’s Maremont Corporation, now Gabriel Ride Control, to manufacture shock absorbers in Mumbai. Singh succeeded her father as group head in February 2011. She and her husband, Jaisal Singh, also founded safari brand Sujan in Rajasthan.<\/div>\n<\/div>\n