Subsidiary completes final tranche investment in renewable energy SPV
CIEINDIA · price
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CIE Automotive India's wholly owned subsidiary CIEALCAST has completed the second and final tranche of its investment in AMPIN Energy Thirty One, a renewable energy SPV. It subscribed to 8,75,000 shares at Rs. 10 each for Rs. 87.5 lakh. Total holding is now 40 percent of paid-up equity (29 percent on fully diluted basis), making it an associate. AMPIN will set up a 5 MWp captive solar plant to power CIEALCAST's factory in Ch. Sambhaji Nagar, helping cut power costs.
Completes investment to secure captive solar power supply, targeting lower power costs at the Ch. Sambhaji Nagar factory over time.