Craftsman subsidiary completes sale of piston business assets to SPR Auto

Core Business DivestedStrategic Transactions View source PDF

CRAFTSMAN · price

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Price reaction · full curve 14 horizons · vs prior close

-1.9%1-day move

₹9450.00

prior close

₹9500.00

base price

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AI summary

Craftsman Automation's wholly owned subsidiary Sunbeam Lightweighting Solutions has completed the second and final tranche of its piston manufacturing asset sale to SPR Auto Technologies (formerly Shriram Pistons and Rings). The second tranche of INR 18 Crores closed on 30 June 2026, after the first tranche of INR 10 Crores on 31 December 2025. Total aggregate consideration is INR 28 Crores excluding GST, paid in cash. The transaction is now fully complete and SPR is not a related party.

Likely market impact

Piston manufacturing business fully divested; company receives INR 28 Crores cash. Neutral to slightly positive for focus on remaining auto components.