Announced Thu, 25 Jun · 19:34 IST
Subsidiary CIE Hosur sells 27.89% stake in Ojaha Renewables for Rs 1.62 cr
Strategic Transactions View source PDF
CIEINDIA · price
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Price reaction · full curve 14 horizons · vs prior close
-3.5%1-day move
₹473.80
prior close
₹465.00
base price
After-mkt
timing
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-2.3-2.2-1.7-0.6-3.5-3.4-0.2-0.5-0.8-4.0+0.3———
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AI summary
CIE Automotive India's wholly owned subsidiary CIE Hosur Limited has sold its full 27.89% stake (2,02,500 shares) in associate Ojaha Renewables Private Limited to CSE Development India for Rs 1.62 crore. ORPL was set up for captive green energy and had a net worth of negative Rs 0.80 million. ORPL will cease to be an associate of the company. The transaction is not a related party deal.
Likely market impact
Minor exit from a small loss-making renewables associate. No material impact on core auto components business.