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CIE Automotive India’s arm to subscribe upto 27.89% equity share capital in ORPL

30 Jan 2024 Evaluate

CIE Automotive India’s wholly-owned subsidiary -- CIE Hosur (CHL) has entered into Share Subscription and Shareholders agreement to subscribe upto 27.89% of the equity share capital of Ojaha Renewables (ORPL) and invest an amount upto Rs 1.62 crore towards subscription of equity share capital. This will entitle CHL to source green energy from captive solar power generating plants to be set up by ORPL. 

Ojaha Renewables will be setting up captive generating plants of the Capacity of 4.5 MWp and supply solar power from this plant to CHL’s factory in Tamil Nadu. In order to qualify as a captive consumer, the Company must hold atleast 26% of the total equity capital of the power generating plant. Accordingly, the investment is essentially to qualify as a captive consumer and thereby optimising the power cost at CHL’s plant in Tamil Nadu.

CIE Automotive India is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers (including leading suppliers of components) in India and overseas.

CIE Automotive India Share Price

483.45 -2.15 (-0.44%)
13-Apr-2026 16:59 View Price Chart
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