CIE Automotive India Merges Wholly-Owned Subsidiary CIEALCAST
CIE Automotive India Ltd's Board of Directors approved the Scheme of Merger for its wholly-owned subsidiary, CIE Aluminium Casting India Limited (CIEALCAST), with the parent company. This strategic move aims to enhance operational efficiencies, achieve economies of scale, and foster synergetic integration of businesses. For the financial year ended December 31, 2025, CIEALCAST reported a turnover of ₹11,728 Million and a net profit after tax of ₹948 Million. As CIEALCAST is a wholly-owned subsidiary, no new shares will be issued as consideration; instead, the entire issued share capital of the Transferor Company held by the Transferee Company will be cancelled. The merger is subject to requisite statutory and regulatory approvals, including from the National Company Law Tribunal (NCLT).
Key Highlights
- Board approved merger of wholly-owned subsidiary CIEALCAST with CIE Automotive India.
- Merger aims for operational efficiencies, economies of scale, and business integration.
- CIEALCAST reported FY25 turnover of ₹11,728 Mn and net profit of ₹948 Mn.
- No new shares issued; existing subsidiary shares held by parent will be cancelled.
- Transaction is a related party deal, subject to NCLT and other regulatory approvals.