Craftsman Automation Limited has intimated the stock exchanges about the incorporation of a step-down wholly owned subsidiary in Germany under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Subsidiary Details
- Name of Entity: Craftsman Fronberg Precision GmbH
- Date of Incorporation: 27th August, 2026
- Ownership Structure: Wholly Owned Subsidiary of Craftsman Germany GmbH, which is a Wholly Owned Subsidiary of Craftsman Automation Limited
- Status: Step-Down Wholly Owned Subsidiary effective from 27th August, 2026
Financial Details
- Initial Share Capital: EUR 25,000
- Consideration: Cash subscription to share capital
- Shareholding: 100% held by Craftsman Germany GmbH
Business Operations
- Industry: Machining and processing of engine and engineering components
- Business Purpose: Undertaking machining and processing activities relating to engine and engineering components
- Strategic Objectives: Support development of in-house machining capabilities, strengthen operational flexibility, and support future growth of the Group's Germany operations
Regulatory Aspects
- Related Party Transaction: Not applicable as it involves incorporation of a new wholly owned subsidiary
- Government Approvals: Not applicable
- Completion Timeline: Not applicable (already incorporated)
Background
The incorporation follows the company's earlier intimation dated 21st August, 2026 regarding board approval for this subsidiary formation. Craftsman Fronberg Precision GmbH is a newly incorporated entity with no turnover history.