Craftsman Automation Limited invests in Sterling MH Wind for Renewable Captive Power Procurement
Craftsman Automation Limited has committed to securing renewable wind energy for its manufacturing operations by making an investment in Sterling MH Wind Private Limited. The investment allows the company to procure power under a Group Captive framework, thereby supporting its sustainability initiatives and optimizing power procurement costs.The investment involves Craftsman Automation Limited subscribing to equity shares of Sterling MH. This move solidifies the supply chain with Sterling MH and aligns the company’s operational needs within Maharashtra, including its Pune facilities.
Through this strategic engagement, Craftsman Automation Limited will hold a 26.66% stake in Sterling MH. The power generated by Sterling MH is designated for use by Craftsman Automation Limited's manufacturing units situated in Maharashtra.
Sterling MH Wind Private Limited was incorporated on February 2, 2026, and functions as a Special Purpose Vehicle focused on the development and operation of a wind power project located in the Satara and Dhule districts of Maharashtra. The project is promoted by Sterling Agro Industries Limited, with the latter serving as the Sponsor.
The transaction represents a cash consideration for the subscription of shares.
Key details of the investment are summarized below:
| Metric | Detail |
|---|---|
| Target Entity | Sterling MH Wind Private Limited (Special Purpose Vehicle) |
| Investment Stake Acquired | 26.66% |
| Shares Subscribed | 2,14,500 equity shares |
| Total Consideration Cost | Rs. 1,07,25,000/- |
| Subscription Price | Rs. 50/- per equity share |
The transaction was structured as a Power Supply Agreement (PSA), Share Subscription and Shareholders' Agreement (SSSHA), and a Supplementary Agreement between Craftsman Automation Limited, Sterling MH Wind Private Limited, and Sterling Agro Industries Limited.
CRAFTSMAN Stock Price Movement
Craftsman Automation Limited shares edged higher on Monday, successfully setting a close of ₹9327 after gaining 1.02%.The stock traded 16,833 shares during the session, concluding within its intraday trading range of ₹9293.5 to ₹9414.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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