Coimbatore | Business Upturn

Craftsman Automation extends asset sale deadline to June 2026 with Rs 28 crore deal

Arunika Jain — Fri, 27 Mar 2026 12:17:35 +0000

Craftsman Automation has announced an extension of the long stop date for its asset sale agreement with Shriram Pistons & Rings Limited (SPRL) to 30th June 2026. The agreement, initially set to conclude by 31st March 2026, involves the sale of certain identified plant and machinery related to the piston manufacturing business by Sunbeam Lightweighting Solutions Limited, a wholly owned subsidiary of Craftsman Automation.

The asset purchase agreement (APA) was first signed on 19th December 2025, with an amendment made on 27th March 2026 to accommodate the new timeline. The transaction is structured to occur in multiple tranches, with the second tranche expected to close by the revised deadline.

The total consideration for the transaction is Rs 28 crore, exclusive of applicable GST. Sunbeam Lightweighting Solutions has already received ₹10 crore as part of the first tranche completed on 31st December 2025. The remaining ₹18 crore will be paid upon the completion of the transaction by 30th June 2026.

SPRL, the buyer, is not part of the promoter group or related parties of Craftsman Automation. The transaction is conducted at arm’s length, ensuring compliance with the relevant regulations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Godrej Properties acquires 44-acre land in Coimbatore for ₹450 crore project

Business Desk — Fri, 13 Mar 2026 00:14:30 +0000

Godrej Properties Limited has acquired a 44-acre land parcel in Coimbatore for a premium plotted residential project with a developable potential of approximately 1.1 million square feet and an estimated revenue potential of ₹450 crore.

The acquisition marks the company’s entry into Coimbatore, a city known for its diversified economy driven by manufacturing, IT/ITES, education, and healthcare. The site is located in a sought-after residential micro-market in South Coimbatore, near the Coimbatore Golf Club.

The proposed development will feature a well-planned residential layout with quality infrastructure, landscaped open spaces, and community amenities. This move aligns with Godrej Properties‘ strategy to expand into high-potential growth cities across India, diversifying its regional booking mix and accelerating its plotted development portfolio.

Gaurav Pandey, MD & CEO of Godrej Properties, emphasised the strategic importance of this acquisition, stating that Coimbatore’s strong economic base and resilient end-user demand make it a compelling market for the company’s expansion plans.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

5 amazing places to visit in Coimbatore for an exciting holiday

Aman Shukla — Fri, 24 May 2024 04:16:41 +0000

Coimbatore, packed with tourist attractions and gorgeous scenery, is also called the “Film Shooting Heaven of India.” Aside from Bollywood’s interest, Coimbatore is renowned for its beautiful rain forests, sparkling river streams, mist-covered Nilgiris and temples built in the Dravidian style. These features make it a popular holiday destination for all tourists.

Here are 5 amazing places to visit in Coimbatore

1. Monkey Falls

One of the most picturesque locations in Coimbatore close to the Aliyar Dam is Monkey Falls on the Valparai Road. Witness the rolling Anamalai hills and roaring rivers; one of the greatest places for a relaxing break. To enter this area, you must get a permit from the Forest Department to view the waterfalls through the Pollachi.

2. Catherine Falls

Dolphin’s Nose is situated in Kolagiri, Tamil Nadu, and offers a view of the beautiful Catherine Falls. The River Kellar forms this stunning waterfall in this location, often referred to as St. Catherine Falls.

3. Gedee Car Museum

Gedee Car Museum is one of the top places to visit in Coimbatore for cars and vintage vehicle lovers. The museum displays a collection of historic vehicles imported from Germany, England and France, as well as many more current automobile designs and old Indian cars.

4. Marayoor

Marayoor, surrounded by greenery, hilly landscapes and different flora and fauna, is one of the best spots to visit in Coimbatore for nature lovers and photographers.

5. Law’s Falls

One of the most amazing places to explore near Coimbatore is Law’s Falls, which is located in the beautiful hills of Ooty. This location is named after Col. Law, who constructed the Coonoor Ghat. Travellers love to visit Law’s Falls, especially after the rainy season.

Leister Group inaugurates new factory in TN

United News of India (UNI) — Thu, 23 Nov 2023 10:49:18 +0000

Coimbatore, Nov 23 : Leister Group, a globally active Switzerland headquartered technology group inaugurated the new factory of its Indian engineering and production company “Weldy Technologies India Private Limited” in Coimbatore in Tamil Nadu.

The Leister Group now develops, manufactures, and sells specific “Weldy” brand products directly in India in order to best serve the rapidly growing emerging market, relying on a local Indian supplier network, said Martin Zingg, CEO of the Leister Group in a release here on Thursday.

He said at the new facility in Coimbatore, Weldy Technologies India would manufacture Weldy-branded hand tools and automatic welding machines for the Indian market using local suppliers.

In recent years, India has become a key market for the Leister Group. The demand for functional and versatile Weldy products, both hot air hand tools and automatic plastic welding machines, is high.

These are used in a wide range of applications in India, including the manufacture of tents, tarpaulins and advertising banners, container and boat construction, sealing of irrigation ponds and fish farms, tunnel construction and cable confection.

Mr.Zingg said their goal is to develop and manufacture new Weldy products in India that are tailored to the Indian market and whose components are sourced from Indian suppliers. This will enable them to meet market-specific requirements and individual needs in the country even faster and more effectively.

Christiane Leister, President of the Board of Directors, Leister Group said with the establishment of Weldy Technologies India Private Limited, in accordance with Indian government initiative – Make in India for India, we develop and build Weldy equipment in India according to the standards and processes of the Leister Group. This enables us to provide our Indian customers with functional and high-quality products and at the same time create attractive jobs in Coimbatore, she added.

Stating that the Leister Group has been present in India since 1987, she said as early as 1990, Leister had its own stand at the first national trade fair for the plastics industry, Plast India, which took place in Delhi.

Over the years, the Leister Group has expanded its presence in India and continuously diversified its range of products and services.

In 2012, the Indian subsidiary Leister Technologies India Private Limited was established in Chennai. Since then, Leister has opened regional sales and service centers in major cities such as Ahmedabad, Bangalore, Bhopal, Chandigarh, Delhi, Hyderabad, Kolkata, Mumbai and Pune to be close to its Indian customers.

In addition, a dense network of distributors ensures that Weldy equipment is available throughout the country, she said.

Kannan Chidambaram, General Manager of Weldy Technologies India said the Leister Group works closely with universities and research institutes Worldwide to develop new technologies, products, and services. In Coimbatore, too, Leister seeks to cooperate with local universities and institutes to support its activities in India.

For several years, the Leister Academy in Chennai has been conducting training and education programs in plastic welding and process heat for its customers, suppliers, and employees, he added.

PM Modi praises MSMEs in India’s progress due to special government schemes

Sanah Shah — Fri, 26 Feb 2021 08:29:29 +0000

Prime Minister Narendra Modi praised the role of the Ministry of Micro, Small and Medium Enterprises (MSME) in the nation’s progress and growth. He said that their contribution to the Atmanirbhar Bharat scheme was very beneficial. News agency ANI reported that special schemes for MSMEs during the Coronavirus pandemic aided around 90 lakh enterprises by providing them with a credit worth of Rs 2.4 trillion.

On 25th February, he addressed a public meeting ahead of the following Assembly polls and said that the conventional view of development only accounted for more vocal interest groups because these two sections were not taken notice of — small businessmen and farmers.

The head of the state added that the National Democratic Alliance (NDA) government at the centre and the government of Tamil Nadu have joined forces as a stark example of cooperative federalism.

PM Modi said, “I want to applaud MSMEs of Coimbatore for creating wealth and adding value. The government of India has taken several steps to help MSMEs.” Continuing to say that the NDA government has prioritized these main two sections.

He referred to the Emergency Credit Line Guarantee Scheme (ECLGS) as one of many examples. The Prime Minister stated that reopening of the economy post the COVID-19 induced lockdown, ECLGS has been significant to boost MSMEs, particularly in Tamil Nadu.

Approximately Rs 14,000 crore has been sanctioned for 3.5 lakh MSMEs throughput the state, PM Modi said. In the Coimbatore district itself, around 2,25,000 MSMEs have gained from this. Last year the definition of MSME was changed, allowing it to be more inclusive and broadband.

The PM said that seven textile parks are expected to come up in three years as the export of leather products, garments and handicrafts are supported. Textile is also an important part of the PLI scheme brought to light late last year.

Citing farmers, PM Modi said, “We do not want our small farmers to feel dependent on anyone or feel suffocated due to middlemen. Our effort for small farmers is aimed at giving them a life of prosperity and dignity.”

The BJP leader noted that the development needs of Tamil Nadu had been met, saying that 12 lakh houses have been given under the PM Awaz Yojana to urban areas of the state. He stated, “We take great pride in the culture of Tamil Nadu. Tamil is the idlest language in the world and Tamil festivals are part of global and across India.”

Lastly, he said that the centre has allowed the setting up of medical institutions in local languages which would endorse thousands of youths.