Mahindra CIE acquires Aurangabad Electricals for ₹830 crore

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. 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.