Lumax Auto Technologies Limited — JV/Acquisition, 26-11-2024: Acquisition

Lumax Auto Technologies has completed the acquisition of a 60% stake in Greenfuel Energy Solutions for INR 153.09 crore through its wholly-owned subsidiary, Lumax Resources. This strategic move is aimed at enhancing market presence and expanding operations in the energy sector. Greenfuel is now a step-down subsidiary of Lumax, which could potentially lead to operational synergies and increased growth opportunities for both entities. The acquisition is expected to bolster Lumax’s portfolio and strengthen its position in the market.