CIE Aluminium Casting to Acquire 29% Stake in AMPIN Energy C&I Thirty One for Green Energy Supply

CIE Aluminium Casting India Limited (CIEALCAST), a wholly owned subsidiary of CIE Automotive India Limited, will acquire up to a 29% stake in AMPIN Energy C&I Thirty One Private Limited for ₹1.75 crore, according to a filing with stock exchanges on Tuesday.

The move aims to support CIE Automotive India’s sustainability goals by sourcing captive green energy. AMPIN Energy C&I Thirty One will establish a captive solar power plant with a capacity of 5 MWp (3.3 MWac), enabling CIEALCAST to optimize energy costs at its Ch. Sambhaji Nagar facility in Maharashtra.

CIE Automotive India stated that this investment will help reduce power expenses and increase renewable energy consumption at its power-intensive manufacturing operations. The transaction is expected to close within the next four months.

AMPIN Energy C&I Thirty One, a wholly owned subsidiary of AMPIN C&I Private Limited, was incorporated in November 2023 and specializes in renewable energy generation.

CIE Automotive India emphasized that this transaction will not be a related-party deal and that no promoters or promoter group companies have any interest in the acquired company.

CIE Automotive India is a leading manufacturer of automotive components headquartered in Pune, India. Listed on both the BSE and NSE, CIE Automotive India specializes in aluminum casting, forging, and machining for global automotive clients.