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Mahindra CIE Automotive has been taking various steps to optimize its power cost and increase the consumption of green energy at various power intense plants of the Company.
Accordingly, the Company on 22 March 2021 subscribed to 7,85,313 equity shares of Sunbarn Renewables, for sourcing green energy on captive basis and optimizing the power cost.
The shareholding of the Company after the current subscription is 8,72,813 equity shares (including 87,500 equity shares held currently)
which will constitute 26.16% of the total equity capital of Sunbarn.
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