CIE India completes 40 percent stake buy in AMP Energy captive solar deal
CIEINDIA · price
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On the reaction day the stock moved 0.5 pts more than Nifty Smallcap 250 and 0.8 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CIE Automotive India has completed the second and final tranche of its investment in AMP Energy C&I Thirty Two, taking its stake to 40 percent of paid-up equity (29 percent on fully diluted basis). Investment across both tranches totals about 2.62 crore at Rs 10 per share. AMP Energy will set up a 7.5 MWp captive solar plant to supply power to CIE's Chakan, Pune forging unit, helping optimize power costs by meeting the 26 percent captive consumer threshold.
Small cost-savings move via captive solar power at Chakan forging plant; modest investment size, minimal direct stock impact.