Divestment25 Jun 2026, 07:30 pm
CIE Automotive India Sells 27.89% Stake in Ojha Renewables for ₹1.62 Cr
AI Summary
CIE Automotive India Ltd announced that its wholly-owned subsidiary, CIE Hosur Limited (CHL), has sold its entire 27.89% stake in Ojha Renewables Private Limited (ORPL) to CSE Development (India) Private Limited for a consideration of ₹1.62 crore. This divestment follows CHL's initial subscription of shares in ORPL on April 25, 2024, which made ORPL an associate. The sale, completed on June 25, 2026, means ORPL will no longer be an associate of CIE Hosur or CIE Automotive India. The net worth and profit/loss attributable to ORPL's shareholding were reported as ₹(0.80) Million and ₹(1.05) Million respectively, based on the last audited financial statements.
Key Highlights
- CIE Hosur Limited divested its entire 27.89% stake in Ojha Renewables Private Limited.
- The sale consideration received by CIE Hosur Limited is ₹1.62 crore.
- Ojha Renewables Private Limited will cease to be an associate of CIE Automotive India.
- The transaction was completed on June 25, 2026.
- ORPL's net worth and profit/loss were reported as ₹(0.80) Million and ₹(1.05) Million.
Price Impact
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