Craftsman Automation Ltd enters into MoU to acquire Sunbeam Lightweighting Solutions Pvt Ltd

Craftsman Automation Limited ("Company") has entered into a Memorandum of Understanding ("MoU") with Sunbeam Lightweighting Solutions Private Limited ("Sunbeam") and Kedaara Capital Fund II LLP ("Kedaara"), for acquiring the whole or part of the business of Sunbeam (excluding certain specific assets of Sunbeam situated in Gurugram) in one or more tranches ("Proposed Transaction").

Completion of the Proposed Transaction remains subject to completion of due diligence, final approval of the Board of Directors of the Company, execution of definitive documents, and completion of other customary conditions as may be required under law.

Shares of Craftsman Automation Limited was last trading in BSE at Rs. 4835.00 as compared to the previous close of Rs. 4841.55. The total number of shares traded during the day was 1509 in over 591 trades.

The stock hit an intraday high of Rs. 4947.50 and intraday low of 4815.80. The net turnover during the day was Rs. 7358315.00.

Source : Equity Bulls

Keywords

CraftsmanAutomation INE00LO01017 Acquisition MoU SunbeamLightweightingSolutions