Lumax Auto Technologies has completed the acquisition of majority shareholding (representing 60% of share capital on a fully diluted basis) in Greenfuel Energy Solutions (Greenfuel) through its wholly owned subsidiary namely Lumax Resources. The consideration paid to the shareholders of Greenfuel, after customary closing review and adjustments as per the Share Purchase Agreement, is Rs 153.09 crore.
Accordingly, Greenfuel has become a step-down subsidiary of the Company and subsidiary of Lumax Resources with immediate effect.