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CIEINDIA · price
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CIE Automotive India has completed its previously announced investment in Suryadeep GJ3 Project Private Limited. The company subscribed to 4,80,000 equity shares of Rs. 10 each for Rs. 48,00,000 (Rupees Forty-Eight Lakhs), acquiring 26.09% stake. Suryadeep has become an Associate Company of CIE Automotive India effective 15th May, 2026. Suryadeep, incorporated on 1st November, 2024, is a Special Purpose Vehicle set up by InSolare Energy Limited to develop and operate renewable energy projects. The company plans to set up a captive solar power plant of approximately 1.6 MWp capacity to supply power to CIE's factories in Rajkot, Gujarat. The investment enables CIE to qualify as a 'captive consumer' under applicable electricity laws, helping optimize power costs at its manufacturing facilities.
This strategic investment allows CIE Automotive India to secure renewable energy for its manufacturing operations, potentially reducing long-term power costs. Becoming an associate company adds a new dimension to CIE's portfolio while supporting its sustainability objectives through captive solar power generation.