Investment15 May 2026, 07:21 pm
CIE Automotive Invests ₹48 Lakh in Suryadeep, Acquires 26.09% Stake
AI Summary
CIE Automotive India Ltd has invested ₹48,00,000 in Suryadeep GJ3 Project Private Limited, acquiring 4,80,000 equity shares at ₹10 each. This investment constitutes 26.09% of Suryadeep's paid-up share capital, making Suryadeep an associate company of CIE Automotive effective May 15, 2026. The investment aims to qualify CIE Automotive as a captive consumer under applicable Electricity Laws, optimizing power costs at its Rajkot, Gujarat factories. The acquisition does not fall within related party transactions.
Key Highlights
- CIE Automotive invests ₹48 Lakh in Suryadeep GJ3 Project Private Limited.
- Acquires 26.09% stake in Suryadeep, totaling 4,80,000 equity shares.
- Suryadeep becomes an associate company of CIE Automotive effective May 15, 2026.
- Investment aims to optimize power costs at Rajkot factories.
- The acquisition is not a related party transaction.
Price Impact
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