Craftsman Automation has completed the acquisition of 100% of the legal and beneficial interest of the total securities of Sunbeam Lightweighting Solutions (Sunbeam) on October 09, 2024 and has subscribed to 24,00,00,000 optionally convertible debentures (OCDs) of Sunbeam for a consideration Rs 240 crore in accordance with the terms of the Securities Subscription and Purchase Agreement (SSPA), which will be completed on October 10, 2024.
Craftsman Automation is a diversified engineering company engaged in: (a) Automotive - Powertrain and Others, (b) Automotive - Aluminium Products, and (c) Industrial and Engineering segments.
