Craftsman Automation Completes First Tranche of Asset Sale for ₹10 Crore
Craftsman Automation Limited announced the completion of the first tranche of a proposed transaction with Shriram Pistons & Rings Limited (SPRL) for the sale of certain assets. The transaction, govern...
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Why is Craftsman Automation Limited in the news today?
Craftsman Automation Limited (CRAFTSMAN) is in the news due to the transaction involves the sale of assets and is a piecemeal transfer of a manufacturing line. while it generates revenue, it also signifies a restructuring or divestment which doesn't inherently indicate significant positive or negative performance.
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Craftsman Automation Completes First Tranche of Asset Sale for ₹10 Crore
December 31, 2025, 10:12 AM
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Craftsman Automation Limited announced the completion of the first tranche of a proposed transaction with Shriram Pistons & Rings Limited (SPRL) for the sale of certain assets. The transaction, governed by an Asset Purchase Agreement (APA), involved the transfer of identified plant and machinery, along with related books and records, forming part of a piston manufacturing line. This initial tranche, completed on December 31, 2025, generated ₹10 Crore, exclusive of applicable GST.
The overall transaction's aggregate consideration is ₹28 Crore, exclusive of GST. The remaining assets are expected to be transferred in subsequent tranche(s), with the second tranche anticipated to be completed by March 31, 2026, for the remaining ₹18 Crore. Sunbeam Lightweighting Solutions Private Limited, a wholly-owned subsidiary of Craftsman Automation, is involved in this sale. SPRL, the buyer, is not part of the promoter group or group companies of Craftsman Automation and is not considered a related party.
The sale of the identified plant and machinery and related books and records forming part of an Aluminium piston manufacturing line is expected to be consummated by March 31, 2026. The agreement for sale was initially entered into on December 19, 2025.
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