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.