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CIE Automotive India to subscribe up to 31.20% equity share capital of ReNew Green

12 Aug 2024 Evaluate

CIE Automotive India has entered into Share Subscription and Shareholders’ agreement to subscribe upto 31.20% of the equity share capital of ReNew Green (MHK Two) (ReNew Green) and invest an amount upto Rs 3.60 crore towards subscription of equity share capital. This will entitle the Company to source green energy from captive solar power generating plant to be set up by ReNew Green.  

ReNew Green (MHK Two) will be setting up captive generating plant of the Gross Capacity of around 7.8 MW AC (10.92 MWp) and supply captive solar power from this plant.
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 optimizing the power cost at the factories in Maharashtra.

The proposed investment is expected to be completed within next one month.

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

490.15 7.75 (1.61%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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