CIE Automotive India Limited on Tuesday announced that AMP Energy C&I Thirty Two Private Limited has allotted 13,12,500 equity shares to the company, marking the completion of the first tranche of its planned investment. With this allotment, CIE Automotive now holds 39.94% of the paid-up share capital of AMP Energy, officially making it an associate company, effective December 2, 2025.
This update follows CIE Automotive’s earlier disclosure on June 24, 2025, where it had announced entering into a Share Subscription and Shareholders Agreement (SSSHA) to subscribe up to 29% equity on a fully diluted basis in AMP Energy C&I Thirty Two Private Limited and invest up to Rs 2.62 crore. The latest tranche, amounting to Rs 1.31 crore, was subscribed at face value at Rs 10 per share.
Purpose of the investment
The acquisition is aimed at establishing the company as a captive consumer of solar power generated by AMP Energy’s upcoming renewable project. AMP Energy C&I Thirty Two will set up a 7.5 MWp (5 MWac) captive solar generating plant, and CIE Automotive must hold at least 26% equity to comply with captive power regulations. The investment will help the company optimise power costs at its Forgings Chakan facility near Pune.
Second tranche expected soon
According to the filing, the acquisition will be completed in two tranches, with the second tranche expected within the next four months, after which CIE Automotive’s fully diluted equity stake will total up to 29%. No regulatory approvals were required for the transaction, and the deal has not been classified as a related-party transaction.
AMP Energy C&I Thirty Two, incorporated in December 2023, is a special-purpose vehicle created to develop and operate renewable energy projects under AMPIN C&I Private Limited. Commercial operations have not yet commenced.
