Lumax Auto Technologies to Acquire Majority Shareholding in Greenfuel Energy Solutions

Lumax Auto Technologies Ltd. has approved the acquisition of majority shareholding in Greenfuel Energy Solutions Private Limited through its wholly owned subsidiary, Lumax Resources Private Limited. The acquisition is subject to customary conditions and a share purchase agreement among the parties involved. Greenfuel is a significant supplier of high-pressure fuel delivery and storage systems, as well as fire and smoke alarm, detection and suppression systems for the automotive industry. Its turnover for the previous three financial years is as follows: FY2021-22: INR 159 Crores, FY2022-23: INR 151 Crores, FY2023-24: INR 214 Crores. The acquisition does not fall under related party transactions and the Promoter/Promoter Group of the Company are not interested in Greenfuel.