The transaction will give the Indian company access to patented automated parking technology, an international order book and its first project in the United States.
L.T. Elevator Limited has signed a Share Purchase Agreement to acquire a 66.45% stake in South Korea-based DYPC Inc., also known as Dongyang PC Inc. The transaction marks the company’s entry into the global automated mechanical parking technology market.
Under the agreement, L.T. Elevator will acquire 996,675 equity shares of the Seoul-headquartered company for USD 2.85 per share. The transaction remains subject to the fulfilment of contractual conditions and regulatory approvals under the Reserve Bank of India’s Overseas Direct Investment framework. Completion is currently targeted on or before 30 September 2026.
Access to Proprietary Parking Technology
The acquisition will add DYPC’s automated parking technologies and intellectual property to L.T. Elevator’s portfolio. DYPC holds 12 international patents and operates three principal product lines: Smart Parking, Ace Parking and Grand Parking.
Its portfolio includes rotary, tower, compact and other automated parking configurations designed to accommodate more vehicles within restricted urban spaces. Integrating these technologies will allow L.T. Elevator to develop parking systems through its ParkSmart division with reduced dependence on external technology and design licences.
The move expands L.T. Elevator’s operations beyond conventional elevator manufacturing, installation and maintenance, positioning the company in the broader smart mobility and urban infrastructure market.
₹65 Crore Order Book Included in the Deal
DYPC currently has an order book valued at approximately ₹65 crore, including orders worth ₹45 crore secured recently. It also has an active project pipeline estimated at nearly ₹700 crore.
The United States accounts for around ₹550 crore of this pipeline. An ₹8 crore order already secured from the US will provide L.T. Elevator with its first direct entry into the American automated parking market.
L.T. Elevator expects DYPC to contribute approximately ₹30 crore in revenue during the remaining part of the current financial year. However, the larger project pipeline represents bids and potential business opportunities rather than confirmed revenue. ET Manufacturing
International Network to Support Global Expansion
Established in 2002, DYPC has supplied parking systems across more than 35 countries. Its technologies have been deployed in markets including the United States, the United Kingdom, Canada, Mexico, Thailand, Egypt and Uruguay.
L.T. Elevator plans to use DYPC’s existing relationships and distribution network to expand across Asia, Europe, the Middle East and the Americas. The South Korean company’s established technology and international presence will complement L.T. Elevator’s manufacturing and project execution capabilities in India.
The deal also includes a proposed buyback of 500,000 DYPC shares held by a Saudi investor. These shares are expected to be purchased and cancelled at the same price of USD 2.85 per share within 60 days of the transaction’s closing. Following the completion of the prescribed steps, DYPC is expected to become a wholly owned subsidiary of L.T. Elevator. Transaction details
Supporting Local Manufacturing in India
The acquisition comes as L.T. Elevator develops an integrated manufacturing facility in West Bengal. The ₹25 crore facility is expected to begin operations during the fourth quarter of FY27 and substantially increase the company’s manufacturing capacity.
The facility could support the domestic production of DYPC-designed automated parking systems, helping L.T. Elevator reduce import dependence, improve execution control and develop products for both Indian and export markets.
Demand for automated parking solutions is expected to grow as Indian cities become denser and real estate developers face stricter parking requirements. Tower and rotary parking systems can help residential, commercial and public infrastructure projects accommodate vehicles while using less land.
By combining DYPC’s patents and international market reach with its own manufacturing and installation capabilities, L.T. Elevator is seeking to build a larger presence in technology-led parking infrastructure. The immediate priorities will be securing the required regulatory approvals, completing the transaction and integrating DYPC’s technology, order book and international operations into its wider business.