Intimation Under Regulation 30 SEBI (LODR) Regulations, 2015 - Acquisition by Wholly Owned Subsidiary "Sunita Defence Inc" USA
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Sunita Tools Limited's wholly owned subsidiary Sunita Defence Inc (100% owned) has acquired a 51% majority controlling stake in New Mold Innovations LLC, a Kentucky, USA based company engaged in specialty grease manufacturing for aerospace, automation and specialized applications, as well as mold manufacturing. The total acquisition cost is USD 419,000 (approximately INR 3.98 crore), payable in two equal cash tranches. The transaction is not a related party transaction and is being carried out on an arm's length basis. The remaining 49% stake continues to be held by the seller and owner, Mr. Randal Alexander. The acquisition aims to expand Sunita Tools' manufacturing presence in the United States, access the established US customer base in aerospace and automation sectors, and create a platform for further North American growth. The deal is expected to complete within 90 days subject to due diligence and definitive agreement execution.
This acquisition expands Sunita Tools' global footprint and diversifies its product portfolio into specialty grease manufacturing with aerospace applications. The deal size of under INR 4 crore is modest but signals strategic intent to grow in the US market, which could be positive for long-term shareholders.