Nature of the Event
Craftsman Automation Limited has made a regulatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure intimates the company's investment in Sterling MH Wind Private Limited for the procurement of renewable wind power.
Key Quantitative Figures
- Investment Amount: ₹1,07,25,000 (One Crore Seven Lakh Twenty-Five Thousand Rupees)
- Number of Shares Subscribed: 2,14,500 equity shares
- Subscription Price: ₹50 per equity share (including premium)
- Resulting Shareholding: 26.66% of the paid-up equity share capital of Sterling MH Wind Private Limited
Dates of Action
- Date of Signing: 27th July 2026 (as per digital signature timestamp)
- Sterling MH Incorporation Date: 2nd February 2026
Parties Involved
- Investor: Craftsman Automation Limited (Scrip Code: BSE 543276, NSE: CRAFTSMAN)
- Target Entity: Sterling MH Wind Private Limited (a Special Purpose Vehicle)
- Sponsor: Sterling Agro Industries Limited
- Agreements: Power Supply Agreement (PSA), Share Subscription and Shareholders' Agreement (SSSHA), and a Supplementary Agreement
Purpose and Rationale
The investment is being made to procure renewable wind power under the Group Captive framework prescribed under the Electricity Act, 2003 and the Electricity Rules, 2005. The power will be supplied from Sterling MH's wind power project in the Satara and Dhule districts of Maharashtra to Craftsman Automation's manufacturing facilities in Maharashtra, including its Pune operations. The stated objectives are to optimize power procurement costs and support sustainability initiatives.
Financial and Operational Impact
The investment provides Craftsman Automation with a 26.66% ownership stake in the wind power project SPV. The transaction does not result in acquisition of control over Sterling MH. The company confirms the transaction does not constitute a related party transaction, and its Promoter, Promoter Group, and Group Companies have no interest in Sterling MH.
Capital Structure Details of Target
- Sterling MH Authorized Capital: ₹15,00,000
- Sterling MH Paid-up Capital (pre-investment): ₹1,00,000
- Sterling MH Industry: Renewable Energy – Wind Power Generation
Transaction Completion
The completion is subject to fulfilment of conditions set out in the transaction documents and completion of share subscription and allotment formalities. No governmental or regulatory approvals are required for this acquisition.
Background on Sterling MH
Sterling MH Wind Private Limited is a project SPV promoted by Sterling Agro Industries Limited (which operates under the NOVA Dairy brand and has experience in renewable energy development). It was incorporated on 2nd February 2026 and is engaged in the business of power generation. The company has no turnover history as it was recently incorporated.