As per its filing with the Registrar of Companies (RoC), Livspace acquired a majority stake in the firm for around Rs 204 crore (approximately $23 million). The transaction comprises Rs 173 crore in cash and Rs 31 crore through a share swap.
As part of the share swap, Abby Lighting’s co-founders Sanjay Bajaj and Suresh Bajaj will be allotted 4,11,274 equity shares in Livspace, translating to around a 0.31% stake in the company.
a Livspace spokesperson said, “This is a strategic investment on our part and in line with our vision to offer a broad spectrum of offerings to our customers. The promoters & management of Abby Lighting & Switchgears will continue to helm the company and operations will continue unchanged.”
Founded in 2000, Abby Lighting designs and manufactures LED and architectural lighting solutions for residential, commercial, and industrial spaces, offering customised, energy-efficient lighting systems and related switchgear products. The company has 85,000+ sq ft design and manufacturing facility in Palghar, Maharashtra.
This acquisition by the IKEA-backed company will mark its fifth acquisition to date. Its earlier acquisitions include Qanvast, YoFloor, Dwll.in, and DezignUp.
Founded in 2014, Livspace enables homeowners to explore and customize pre-designed rooms, kitchens, and storage solutions through its platform
According to startup data intelligence platform TheKredible, Livspace has raised over $520 million to date, including its $180 million Series F round led by KKR & Co., which helped the company attain unicorn status.
For the fiscal year ended March 2025, Livspace reported 23% year-on-year growth in its operating revenue to Rs 1,460 crore from Rs 1,185 crore in FY25. At the same time, the company shrunk its losses by 42% to Rs 242 crore.
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