Mahindra CIE acquires Aurangabad Electricals for ₹830 crore
The acquisition will help Mahindra CIE foray into aluminium die casting space and strengthen presence in two-wheeler market
The deal is among several struck in India's auto components industry in a private equity-driven consolidation wave
Mumbai: Mahindra CIE Automotive Ltd has acquired Aurangabad Electricals Ltd for ₹830 crore, marking its entry into the aluminium die-casting industry. The acquisition will also strengthen its presence in the two-wheeler market, said the company in a regulatory filing on Tuesday. The transaction is expected to be completed by 10 April.