Announced Wed, 8 Jul · 17:18 IST
Craftsman Automation invests Rs 3.36 cr in solar power firm Solarcraft
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CRAFTSMAN · price
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AI summary
Craftsman Automation will invest Rs 3.36 crore in Solarcraft Power India 24 Pvt Ltd to procure 7 MW solar power for its factories under captive consumption rules. The investment, in equity shares and compulsorily convertible debentures, gives 26 percent stake. Solarcraft is building a solar project in Rajasthan and had zero revenue so far. Deal is not a related party transaction and is expected to close within 270 days.
Likely market impact
Small investment aimed at securing renewable energy for manufacturing operations, supporting sustainability goals. Limited financial impact.