Cie Automotive India LtdNSE: CIEINDIA

CIE Automotive falls after Mahindra & Mahindra unit offloads 3.6% stake

· Issued by Cie Automotive India Ltd

** Shares of CIE Automotive BME:CIE fall around 5.8%

** A unit of Indian automaker Mahindra & Mahindra NSE:M&M sold shares representing about 3.58% of CIE Automotive's capital at a discount via accelerated bookbuilding

** Mahindra sold about 4.29 million shares of the Spain-based supplier of automotive components company's stake

** Shares sold at 27.75 euros apiece, discounted from the stock's Wednesday closing price of 30 euros

** CIEA on track for its worst day since November 2022, when it closed 6.0% lower