Samvardhana Motherson International, one of the largest automotive component supplier has concluded its capital raise of INR 64.38 billion (USD 771 million approximately) on 20 September, 2024.

The company says it received strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size. Over 95 percent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investors (FIIs). The issue resulted in the further diversification and strengthening of the shareholder base.

SAMIL states it has become one of the few successful issuers of Equity and Compulsorily Convertible Debentures in a composite issuance (equity of INR 49.38 billion and CCDs of INR 15 billion). The transaction subscription was done at a share price of INR 190/share while the floor price as per SEBI ICDR regulations was INR 188.85/share.

The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening SAMIL’s balance sheet and enhancing its position to capitalise on various growth opportunities. Some of the proceeds will be used towards general corporate purposes.

Laksh Vaaman Sehgal, Director, SAMIL said, “This transaction reinforces investors' confidence in our robust business model based on our long-term relationships with global OEMs. The success of this transaction is a testimony to investors’ belief in our strategic direction and our execution capabilities, which are based on prudent financial policies while delivering sustained growth and enhanced shareholder value. We remain thankful to our customers and investors for their continued trust in Motherson.”

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Greenfuel Energy Solutions, a subsidiary of Lumax Auto Technologies (LATL), has opened a manufacturing line for ferrule-less tubes and fittings at its Manesar facility. The line was inaugurated by the leadership team of Maruti Suzuki India.

The project involves an initial investment of INR 250 million, with a further INR 500 million planned over the next five years. The facility has the capacity to supply components for approximately 100,000 vehicles, with production ramping up in phases.

The facility localises the production of ferrule-less tubes and fittings for CNG vehicles, a technology that was previously imported. The solution uses torque-tightened assembly for mass production. Greenfuel developed the line in collaboration with its German partner, WEH Gas Tech, adapting the technology for Indian conditions.

Deepak Jain, Director, Lumax Auto Technologies, said, “The localisation of this technology reflects our strong commitment to the ‘Make in India’ agenda. By bringing critical manufacturing capabilities onshore, we are accelerating technology transfer, strengthening domestic supply chains, and enhancing India’s competitiveness in advanced automotive manufacturing.”

Anmol Jain, Managing Director, Lumax Auto Technologies, added, “This initiative lays the foundation for scalable and sustainable growth. It improves operational efficiencies, deepens collaboration with OEM partners, and enables faster validation cycles supporting the evolution of Indian manufacturing towards higher value-added capabilities.”

The transition to domestic manufacturing is intended to reduce reliance on global supply chains and eliminate costs associated with import duties and foreign-exchange exposure.

Akshay Kashyap, MD & CEO, Greenfuel Energy Solutions, said, “We are the first and only company in India to localise ferrule-less tubes and fittings along with the underlying manufacturing technology. This Make-in-India solution offers ease of installation, reduced labour costs, and enhanced safety for the automotive industry. We have already commenced supplies to a leading OEM and are witnessing strong interest from others.”

“This technology has been proven in Europe and used by an established German automotive brand for over seven years. We have successfully indigenised it in India in collaboration with our long-standing German partner, WEH Gas Tech, a relationship spanning nearly two decades. While the core line was sourced from Germany, it has been adapted and optimised for Indian operating conditions, combining global credibility with local engineering expertise,” added Kashyap.

In 2024, Lumax Auto Technologies Limited acquired a 60 percent stake in Greenfuel Energy Solutions’ alternate fuels business for INR 1.53 billion. The division reported revenues of INR 1.7 billion in the first half of the year and maintains an order book of approximately INR 2 billion. The expansion aligns with the industry-wide shift toward alternate-fuel platforms in India.

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Tier 1 automotive component supplier Uno Minda has been named the ‘Best Governed Company’ at the 25th ICSI National Awards for Excellence in Corporate Governance. The company received the award in the Listed Segment (Medium Category) during a ceremony held on 19 December 2025.

The Institute of Company Secretaries of India (ICSI), a body under the Ministry of Corporate Affairs, recognised Uno Minda for its governance framework, Board structure and transparency. The evaluation also considered stakeholder value enhancement, CSR, and sustainability. The company treats governance as an enabler of growth and value creation.

The award was presented by Dr Raj Bhushan Choudhary, Minister of State for Jal Shakti, and P T Usha, Member of Parliament and President of the Indian Olympic Association.

The jury for the awards was chaired by Dr Justice D Y Chandrachud, former Chief Justice of India. Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), attended the event as Guest of Honour.

This recognition follows other governance awards received by the company. Uno Minda was previously granted the ‘Amrop–ET India’s Best Board’ Award in 2021 for Board effectiveness and leadership. It also received the Golden Peacock Award for Excellence in Corporate Governance in 2020 from the Institute of Directors.

The ICSI National Awards are intended to promote governance standards that support the socio-economic objectives of the Government of India.

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Honda Motor Co., and Hitachi have signed an agreement for Hitachi to transfer a portion of its common shares in automotive component supplier Astemo to Honda.

The transaction shifts the voting rights of the joint venture. Previously held at a 40–40 percent split between Honda and Hitachi, with 20 percent held by JICC-01, the new structure grants Honda a 61 percent majority stake. Hitachi’s share will decrease to 19 percent, while JICC-01 maintains its 20 percent holding.

The capital restructure aims to position Astemo as a provider of integrated vehicle systems for the Software Defined Vehicle (SDV) era. The company intends to integrate software and hardware across in-car domains and cloud engineering.

Under the new arrangement, Astemo will increase collaboration with Honda to utilise the automaker’s development expertise. Hitachi will continue to provide support focused on digital technology to assist in AI and software development.

The company confirmed its intent to pursue an Initial Public Offering (IPO) while focusing on the electrification of mobility and AI-driven intelligence.

"Under the new capital structure, Astemo will accelerate its efforts more than ever, aiming to become a company that leads the electrification of mobility and AI-driven intelligence in the SDV age. As a system solution provider that offers not just individual components but software-defined integrated vehicle systems, Astemo aims to be a leading company that drives electrification and AI-driven intelligence of mobility in the SDV age, challenging itself to achieve further growth," said Astemo in a statement.

At present, Astemo has over 80,000 employees globally and operates across the Americas, Asia, Europe and Japan, managing divisions for electrification, vehicles and motorcycles.

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The ACMA Mobility Foundation and Spark Minda Group recently held the Spark Connect Tech Show, which aimed to increase visibility and capability development for Tier-2 and Tier-3 suppliers within the automotive supply chain.

The initiative involved 25 supplier partners representing a shift in ACMA’s technology engagement, moving from OEM-led events to Tier-1-hosted platforms. This format allowed suppliers to present solutions directly to Tier-1 and OEM functions.

Vinnie Mehta, Director General, ACMA, stated, “While ACMA organises several large exhibitions and international events, targeted technology shows such as these play a distinct role in supporting individual companies. They enable direct engagement between OEMs, Tier-1s and supplier partners, and provide valuable, specific feedback from engineering, R&D and procurement teams. This kind of engagement is critical as we work to strengthen Tier-2 capabilities and build a more competitive automotive ecosystem.”

Aakash Minda, Executive Director, Spark Minda Group and Chairperson, Supply Chain & Raw Materials Pillar, ACMA, added, “Through our collaboration with the ACMA Mobility Foundation on initiatives such as the Spark Connect Tech Show, we are working to improve visibility and access for Tier-2 and Tier-3 supplier partners across Tier-1s and OEMs. These buyer-seller engagements provide an opportunity for suppliers to showcase their capabilities and explore potential collaboration and business opportunities within the automotive value chain.”

The Spark Connect Tech Show is part of the ACMA Mobility Foundation’s work to deepen supply-chain integration. The foundation focuses on the development of the automotive components ecosystem.

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