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Autocomp supplier Mahindra CIE invests Rs.2.43 Cr in Strongsun Solar

Mint  

Automotive component supplier Mahindra CIE Automotive Ltd has invested INR 2.43 crore in Andheri, Mumbai-headquartered Strongsun Solar Pvt Ltd. The company has subscribed to 303,250 equity shares of Strongsun Solar. Post-allotment, Mahindra will hold 27.35 % of the post issue paid-up capital of Strongsun. Strongsun is setting up two captive generating plants of 7 MWp and 3 MWp capacities to supply captive solar power to Mahindra CIE Automotive foundry division at Urse (7 MWp) and magnetics products division at Bhosari (3 MWp) respectively.