CIE Automotive India Sells 27.89% Stake in Ojaha Renewables for Rs. 1,62,00,000
CIE Hosur Limited, a wholly owned subsidiary of CIE Automotive India Limited, has completed the divestment of its stake in Ojaha Renewables Private Limited (ORPL). The company sold all 2,02,500 equity shares of ORPL to CSE Development (India) Private Limited for a consideration of Rs. 1,62,00,000.The sale concludes the previous investment made by CIE Hosur Limited in Ojaha Renewables Private Limited. Originally, CHL had subscribed up to 27.89% of the equity share capital of ORPL through a Share Subscription and Shareholders Agreement (SSSHA) on January 29, 2024. This investment was intended to support ORPL’s procurement of green energy from captive solar power generating plants.
On April 25, 2024, ORPL had allotted the equity shares to CHL, at which time ORPL became an Associate of CIE Hosur Limited and the parent company.
In accordance with the terms of the agreements between the parties, CIE Hosur Limited disinvested all its holding in ORPL by selling the shares to CSE Development (India) Private Limited on June 25, 2026. As a result of this transaction, ORPL will cease to be an Associate of both CHL and CIE Automotive India Limited.
CSE Development (India) Private Limited was identified as the buyer and is confirmed not to belong to the Promoter or Promoter Group of CIE Automotive India Limited. The sale transaction was categorized as non-related party.
Details regarding Ojaha Renewables Private Limited prior to the sale included:
| Metric | Value |
|---|---|
| Net Worth (Attributable) | Rs. (0.80) Million |
| Profit / Loss (Attributable) | Rs. (1.05) Million |
| Shares Held by CHL | 2,02,500 |
| Percentage Stake Sold | 27.89% |
CIEINDIA Stock Price Movement
On Thursday, shares of CIE Automotive India Limited edged higher, closing at ₹471.30 and appreciating 0.83% in a positive session. The stock saw 136,831 shares traded during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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