Lumax Auto stock jumps 5% after Rs 154 cr worth stake acquisition in Greenfuel Energy

Lumax Auto Technologies Ltd

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26 Aug, 2025 12:21

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Shares of Lumax Auto Technologies surged over 5 percent after the company entered the green and alternate fuels market with the acquisition of a 60 percent stake in Greenfuel Energy Solutions for Rs 153 crore. The deal, executed through Lumax Auto's wholly-owned subsidiary Lumax Resources, was funded via debt and internal accruals.

Greenfuel specialises in high-pressure fuel delivery and storage systems for Compressed Natural Gas (CNG) and hydrogen vehicles, as well as fire and smoke suppression systems for the automotive sector. Its client base includes major (Original Equipment Manufacturer) OEMs such as Maruti Suzuki, Tata Motors, and Volvo Eicher Commercial Vehicles.

Greenfuel's operations will continue under the leadership of Akshay Kashyap, the MD and CEO of Greenfuel. KPMG Corporate Finance and Grant Thornton advised Lumax Auto and Greenfuel, respectively, with legal support provided by Cyril Amarchand Mangaldas.

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"We are excited about this strategic partnership with Lumax Auto, combining their extensive market presence and strong customer relationships along with our expertise in alternate fuel systems. This collaboration is poised to deliver significant value for all stakeholders while fostering innovation in the automotive industry and advancing the transition to cleaner, more sustainable mobility solutions," Kashyap said in an exchange filing on November 26.

Anmol Jain, the Managing Director of Lumax Auto said, "This partnership enables us to expand our product portfolio for key OEMs while increasing our per-vehicle content in the four-wheeler segment."

At 09.50 am, shares of Lumax Auto were trading at Rs 539.75 on the NSE.

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