CIE Automotives Indian arm, Mahindra CIE Automotive Limited (MCIE), formerly known as Mahindra Forging Limited, will acquire Bill Forge Private Limited (BFPL). MCIE board of directors resolved to acquire 100 per cent of equity shares for Rs. 13,312 million. Furthermore, MCIE Board resolved to issue 54.49 million shares to CIE Automotive SA (CIE) and BFPL shareholders, including the Haridass Family and Kedaara Capital at Rs. 200 per share. This acquisition, claim industry sources, will be crucial to increase MCIE’s operations, especially in the high growth Asian markets.BFPL’s complementary product and customer mix is expected to diversify the business portfolio of MCIE India.

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