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Source: scanx.trade
18 May 2026
CIE Automotive India Limited has completed the acquisition of a 26.09% equity stake in Suryadeep GJ3 Project Private Limited ("Suryadeep") on 15th May, 2026. The transaction involved the subscription of 4,80,000 equity shares of Rs. 10/- each at par, aggregating to a total cash consideration of Rs. 48,00,000 (Rupees Forty-Eight Lakhs only). With this allotment, Suryadeep has become an associate company of CIE Automotive India effective 15th May, 2026.
Transaction Details
The acquisition follows a Share Subscription and Shareholders' Agreement entered into by the company with Suryadeep, which was first disclosed on 4th March, 2025. The agreement outlined the company's intent to invest and subscribe to up to 26% of the equity share capital of Suryadeep for an amount of up to Rs. 48,00,000 (Rupees Forty-Eight Lakhs only). The transaction was completed entirely through cash consideration, with shares acquired at par value.
The key parameters of the acquisition are summarised below:
Parameter: Details Target Entity: Suryadeep GJ3 Project Private Limited Date of Incorporation (Target): 1st November, 2024 Shares Acquired: 4,80,000 Equity Shares of Rs. 10/- each Stake Acquired: 26.09% of paid-up equity share capital Total Consideration: Rs. 48,00,000 (Rupees Forty-Eight Lakhs only) Mode of Consideration: Cash Acquisition Price per Share: Rs. 10/- (at par) Date of Completion: 15th May, 2026 Post-Acquisition Status: Suryadeep becomes an Associate Company
About Suryadeep GJ3 Project Private Limited
Suryadeep GJ3 Project Private Limited is a special purpose vehicle incorporated under the Companies Act, 2013 (CIN: U35105GJ2024PTC156141) on 1st November, 2024, by InSolare Energy Limited, a company incorporated under the Companies Act, 1956. Prior to this acquisition, Suryadeep was a 100% subsidiary of InSolare Energy Limited. Suryadeep's registered office is located at 501-505 Altimus Blue Dart, B/H Torrent Pharma Office, Ashram Road P.O, Ahmedabad, City Ahmedabad, Gujarat, India, 380009. The entity is engaged in the business of developing and operating renewable energy projects, and its commercial operations have not yet commenced.
Strategic Rationale: Captive Solar Power
The primary objective of this investment is to enable CIE Automotive India to qualify as a captive consumer of solar power under applicable Electricity Laws. Suryadeep is set to establish a captive generating plant with a gross capacity of around 1.6 MWp, which will supply captive solar power to CIE Automotive India's factories in Rajkot, Gujarat. Under applicable Electricity Laws, a company must hold at least 26% of the total equity capital of a power generating plant to qualify as a captive consumer. This investment is therefore essential to meet that threshold and is expected to help optimize power costs at the Rajkot facilities.
Regulatory and Related Party Disclosures
The transaction does not constitute a related party transaction. None of the promoter, promoter group, or group companies have any interest in Suryadeep. No governmental or regulatory approvals were required for the completion of this acquisition. The disclosure has been made pursuant to Regulation 30 read with Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 last updated on 30th January, 2026.
CIE Automotive India Limited has submitted an advance intimation of upcoming investor relation interactions to the stock exchanges, in compliance with Regulation 30 read with Para A of Schedule III and Regulation 46(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on 12th May 2026 and has been uploaded on the company's official website.
Upcoming Investor Relation Interactions
The company has scheduled four physical investor conferences in Mumbai between 21st May 2026 and 9th June 2026. Each event will feature both one-on-one and group meeting formats, providing institutional investors and analysts with direct access to the company's management. The interactions are being organised by prominent securities firms.
The following table outlines the complete schedule of upcoming investor relation interactions as disclosed by the company:
Detail: Meeting 1 Meeting 2 Meeting 3 Meeting 4 Date: Thursday, 21 May 2026 Wednesday, 27 May 2026 Tuesday, 2 June 2026 Tuesday, 9 June 2026 Organiser: Yes Securities B&K Securities Axis ICICI Venue: Physical, Mumbai Physical, Mumbai Physical, Mumbai Physical, Mumbai Meeting Type: One on One, Group One on One, Group One on One, Group One on One, Group
Note: Dates are subject to change. Changes may happen due to exigencies on the part of investors or the company.
Regulatory Compliance
The advance intimation has been filed in accordance with SEBI's listing regulations, which mandate timely disclosure of scheduled analyst or institutional investor interactions. The disclosure was signed by Pankaj V. Goyal, Company Secretary, Chief Compliance Officer and Head-Legal (Membership No.: F13037), on behalf of CIE Automotive India Limited. The complete schedule is available on the company's website at the investor relations section.
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