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Mahindra CIE Automotive subscribes 31.20% stake in ReNew Surya Alok

24 Feb 2021 Evaluate

Mahindra CIE Automotive has subscribed 8,26,000 equity shares of ReNew Surya Alok (ReNew) which constitute 31.20% of the total issued and paid-up capital of ReNew. ReNew is engaged in Solar Power Generation and Supply. Accordingly, the said investment is made essentially to qualify as a captive consumer and thereby optimizing the power cost at the plants.

Mahindra CIE Automotive is a multi-technology automotive components supplier.

Peers
Company Name CMP
SamvardhanaMotherson 163.00
Tube Investments 2455.00
Bosch 47199.95
UNO Minda 1177.00
Bombay Burmah Trdg. 1415.80
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