Craftsman Automation completes ₹240 crore acquisition of Sunbeam Lightweighting Solutions | Business Upturn

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Craftsman Automation Limited has completed the acquisition of 100% of Sunbeam Lightweighting Solutions Private Limited. As part of the transaction, Craftsman has subscribed to ₹240 crore worth of optionally convertible debentures (OCDs) in Sunbeam.

The deal, first announced in August 2024, involved acquiring full legal and beneficial ownership of Sunbeam. The subscription to the 24 crore OCDs marks a significant step in completing the overall acquisition, which is set to finalize on October 10, 2024.

This move strengthens Craftsman Automation’s capabilities in the lightweighting sector, expanding its portfolio and market presence.

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TOPICS: Craftsman Automation