Sunita Tools Ltd announces acquisition of Imperial Auto Crafts through its Subsidiary

Sunita Tools Limited, a leader in the engineering and mold base industry, has announced the signing of a Memorandum of Understanding (MOU) with Imperial Auto Crafts, a renowned entity in the engineering and aerospace sector. This strategic move aims to enhance Sunita Tools' capabilities and expand its market presence through the acquisition of Imperial Auto Crafts' business.

Sunita Tools Limited is renowned for providing customized solutions in the engineering and mold base industry, specializing in the manufacture of ground plates, mold bases, and precision CNC machining. With a commitment to quality and innovation, Sunita Tools has established itself as a trusted partner in the industry.

Imperial Auto Crafts, a sole proprietorship owned by Mr. Ramesh Kumar, has made significant contributions to the engineering and aerospace sectors. Known for its expertise and quality, Imperial Auto Crafts has built a reputation for excellence.

The acquisition will be facilitated through Sunita Tools' wholly-owned subsidiary, Sunita Imperial Aerospace Private Limited, which is proposed to be incorporated as part of this agreement. This strategic move aligns with Sunita Tools' vision of expanding its business on a larger scale and diversifying its portfolio.

The MOU outlines the key terms and conditions under which the acquisition will take place. Both parties are committed to a smooth transition and are working closely to ensure the continuity of operations and seamless integration of Imperial Auto Crafts' business into Sunita Tools' operations.

This acquisition will allow Sunita Tools to leverage Imperial Auto Crafts' established expertise in the aerospace sector, enabling the company to offer a broader range of services and solutions to its clients. The move is expected to strengthen Sunita Tools' market position and open new avenues for growth and innovation.

Shares of Sunita Tools Limited was last trading in BSE at Rs. 852.60 as compared to the previous close of Rs. 812.00. The total number of shares traded during the day was 5500 in over 9 trades.

The stock hit an intraday high of Rs. 852.60 and intraday low of 852.60. The net turnover during the day was Rs. 4689300.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts Acquisition ImperialAutoCrafts