CIE Automotive India Limited — JV/Acquisition, 04-03-2025: Acquisition

CIE Automotive India Limited has entered into a Share Subscription and Shareholders’ Agreement to invest ₹4.8 million for a 26% equity stake in Suryadeep GJ3 Project Private Limited, which will establish a captive solar power plant with a capacity of approximately 1.38 MWp. This investment aims to optimize power costs at CIE's factories in Rajkot, Gujarat, enabling them to qualify as a captive consumer of green energy. The transaction is expected to enhance CIE's sustainability efforts and reduce long-term energy expenses, bolstering its operational efficiency.