Announced Thu, 25 Jun · 19:21 IST
Wholly owned subsidiary sells 27.89% stake in ORPL for Rs 1.62 crore
Strategic Transactions View source PDF
CIEINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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 sold its entire 27.89% stake (2,02,500 shares) in Ojaha Renewables Private Limited to CSE Development India for Rs 1.62 crore. ORPL was set up in 2024 as an associate for captive green energy procurement and will now cease to be an associate. The buyer is not a related party. ORPL had a negative net worth of Rs 0.80 million and a loss of Rs 1.05 million attributable to CHL.
Likely market impact
Minor divestment of a loss-making renewable energy associate. Negligible financial impact on the company. ORPL ceases to be an associate.