CIE Automotive India Limited — JV/Acquisition, 20-03-2025: Acquisition

CIE Automotive India Limited has mutually terminated the Share Subscription and Shareholders Agreement with Ijya Three Renewables, which would have seen its subsidiary, CIE Aluminium Casting India Limited (CIEALCAST), acquire a 27% stake in Ijya for INR 17 million. The planned acquisition aimed to establish a solar power generating plant but faced challenges in development. Consequently, CIEALCAST will not incur any liabilities as a result of this cancellation, aligning with the company's focus on optimizing power costs without further investment in this project.