CIE Automotive India Limited has informed the Exchange about Update on Acquisition of Shares
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CIE Automotive India has completed the acquisition of a 26.09% stake in Suryadeep GJ3 Project Private Limited for Rs. 48 lakhs (4,80,000 shares at Rs. 10 each). Suryadeep, incorporated in November 2024, is a renewable energy company that will set up a captive solar power plant of approximately 1.6 MWp capacity in Rajkot, Gujarat. The investment allows CIE Automotive to qualify as a 'captive consumer' under applicable electricity laws, enabling the company to optimize power costs at its manufacturing facilities. The transaction is not a related party transaction, and Suryadeep has become an associate company of CIE Automotive India effective 15th May, 2026. No regulatory approvals were required for this acquisition.
This acquisition supports CIE Automotive India's cost optimization strategy by securing captive solar power generation. The relatively small investment amount (Rs. 48 lakhs) suggests limited direct financial impact, but it strengthens operational efficiency through cheaper power sourcing. For shareholders, this represents a strategic move toward renewable energy adoption within the company's manufacturing operations.