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Lumax Auto Technologies to Acquire Majority Shareholding in Greenfuel Energy Solutions

Lumax Auto Technologies Ltd. has announced its intention to acquire a majority shareholding in Greenfuel Energy Solutions Private Limited through its wholly owned subsidiary, Lumax Resources Private Limited. The acquisition is subject to customary conditions outlined in a share purchase agreement between the parties. 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. It supplies to key OEMs including Maruti Suzuki, TATA Motors, and Volvo Eicher Commercial Vehicles. The turnover of Greenfuel's business 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 Lumax Auto Technologies are not interested in Greenfuel.

• Lumax Auto Technologies to acquire majority shareholding in Greenfuel Energy Solutions
• Acquisition through wholly owned subsidiary, Lumax Resources Private Limited
• Greenfuel is a significant supplier of fuel delivery and storage systems, and fire and smoke alarm systems for the automotive industry
• Supplies to key OEMs including Maruti Suzuki, TATA Motors, and Volvo Eicher Commercial Vehicles
• The acquisition does not fall under related party transactions