Investment27 Jul 2026, 06:50 pm
Craftsman Automation Invests ₹1.07 Cr for 26.66% Stake in Wind Power SPV
AI Summary
Craftsman Automation Ltd has entered into agreements to procure renewable wind power under a Group Captive framework. The company will subscribe to 2,14,500 equity shares of Sterling MH Wind Private Limited for ₹1,07,25,000, acquiring a 26.66% stake. This investment is for sourcing wind power from a project in Maharashtra to supply its manufacturing facilities, including Pune operations, aiming to optimize power costs and support sustainability. The transaction does not involve related parties and does not result in acquisition of control.
Key Highlights
- Invests ₹1.07 Cr for 26.66% stake in Sterling MH Wind Private Limited.
- Secures renewable wind power supply for Maharashtra manufacturing facilities.
- Aims to optimize power procurement costs and enhance sustainability.
- Transaction does not constitute a related party deal.
- Investment is for procurement of renewable energy, not control acquisition.
Price Impact
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