Craftsman Automation has successfully completed its strategic acquisition through subsidiary Dr Axion India Private Limited, which acquired 100% of the paid-up equity share capital of Suprash Developers Private Limited for ₹145.85 crore. The transaction, completed on December 20, 2025, also includes indirect acquisition of Srikara Technologies Private Limited, a wholly-owned subsidiary of Suprash Developers. The acquisition is strategically aimed at setting up a new manufacturing facility in Chennai.

Acquisition Completion Details

The company filed regulatory intimation under Regulation 30 of SEBI LODR Regulations, confirming the successful completion of the acquisition that was initially announced through a Share Purchase Agreement executed on December 19, 2025. The transaction structure involves multiple entities within the Craftsman Automation group and establishes the foundation for expanded manufacturing operations in Chennai.

Strategic Expansion Through Chennai Manufacturing Hub

Dr Axion India Private Limited, operating as a wholly-owned subsidiary of Craftsman Automation, executed the direct acquisition of Suprash Developers to facilitate the establishment of a new manufacturing facility in Chennai. This structure simultaneously provides indirect control over Srikara Technologies Private Limited, which operates as Suprash's wholly-owned subsidiary, creating a comprehensive acquisition framework for the Chennai expansion.

The Chennai manufacturing facility represents a significant step in Craftsman Automation's geographical expansion strategy, leveraging the industrial infrastructure and skilled workforce available in the region. The acquisition demonstrates the company's commitment to strengthening its manufacturing capabilities through strategic location advantages.

Regulatory Compliance and Strategic Implementation

Craftsman Automation has fulfilled all regulatory requirements under SEBI LODR Regulations, with comprehensive documentation submitted to stock exchanges. The company's proactive regulatory approach includes timely intimation of both the Share Purchase Agreement execution and subsequent completion of the acquisition process.

The acquisition aligns with the company's growth strategy in the auto ancillaries sector, where Craftsman Automation operates as a mid-cap entity with significant market presence. The new Chennai manufacturing facility is expected to enhance the company's production capacity and strengthen its market reach through improved geographical distribution and operational efficiency.

Craftsman Automation Limited has informed the stock exchanges about the conversion of securities held in its wholly-owned subsidiary Sunbeam Lightweighting Solutions Private Limited. The conversion involves Compulsorily Convertible Preference Shares (CCPS) and Optionally Convertible Debentures (OCDs) worth ₹97.60 crores being converted into equity shares of Sunbeam.

Board Approval and Conversion Details

The Board of Directors of Sunbeam Lightweighting Solutions Private Limited approved the conversion at their meeting held on December 19, 2025. The approval was based on a Conversion Request Notice submitted by Craftsman Automation Limited.

The conversion details are as follows:

Impact on Capital Structure

The conversion will result in an increase in the equity share capital of Sunbeam Lightweighting Solutions Private Limited. However, this corporate restructuring does not affect the ownership dynamics between the parent and subsidiary companies.

Shareholding Pattern Remains Unchanged

Despite the conversion of these financial instruments, Craftsman Automation's shareholding in Sunbeam will continue to remain at 100.00%. The company has clarified that this conversion does not result in any change in the overall shareholding pattern of Craftsman Automation in its subsidiary.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about this corporate action.

Key regulatory details include:

Business Implications

This conversion represents a strategic financial restructuring within the Craftsman Automation group. By converting preference shares and debentures into equity shares, the subsidiary's capital structure becomes simplified while maintaining the same ownership control. The transaction demonstrates the company's focus on optimizing its subsidiary's financial architecture without diluting its ownership stake.