Craftsman Automation Limited has informed the Exchange about Amalgamation/Merger
CRAFTSMAN · price
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Craftsman Automation's board has approved a draft Composite Scheme of Arrangement to consolidate its Aluminium Products business in a phased manner. In Phase 1, two step-down wholly owned subsidiaries (Suprash Developers and Srikara Technologies), which hold land parcels, will be merged into DR Axion India (DRA). Following this, DRA will be merged into Sunbeam Lightweighting Solutions. DRA reported a turnover of ₹1,298.52 crore and net worth of ₹511.34 crore, while Sunbeam reported a turnover of ₹1,237.46 crore and net worth of ₹107.43 crore (as of March 31, 2025). The merger ratio is 1 Sunbeam share (₹1 face value at ₹9 premium) for every 1 DRA share (₹10 face value). The scheme is subject to NCLT, shareholder, creditor, and regulatory approvals.
This is an internal restructuring entirely among wholly owned subsidiaries, so there is no change to the shareholding pattern of the listed company and no immediate dilution. In the medium term, consolidation could streamline the Aluminium business, unify asset ownership, and improve operational efficiency, but shareholders should watch for NCLT and regulatory approval timelines.