SPR Auto Technologies Limited

Completion of Asset Purchase Agreement for Piston Manufacturing Assets

Transaction Details

SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited) has completed the acquisition of identified plant and machinery and related assets for its piston manufacturing business from Sunbeam Lightweighting Solutions Limited (formerly Sunbeam Lightweighting Solutions Private Limited), a wholly-owned subsidiary of Craftsman Automation Limited.

Financial Terms

The aggregate consideration for the entire transaction is INR 28 Crores, exclusive of applicable GST. The payment structure was as follows:

  • INR 10 crore paid on December 31, 2025 for the first tranche of assets
  • Remaining INR 18 crore paid in full upon completion on June 30, 2026

Transaction Structure and Timeline

The transaction was governed by an Asset Purchase Agreement dated December 19, 2025, as amended by an Amendment Agreement dated March 27, 2026. The acquisition was completed in multiple tranches on a piecemeal basis:

  • First tranche completed on December 31, 2025, transferring certain identified plant and machinery and related books and records
  • Final tranche completed on June 30, 2026, acquiring the remaining identified plant and machinery forming part of the piston manufacturing line

The transaction was subject to fulfillment of conditions precedent as specified in the APA and completion of agreed closing deliveries.

Parties Involved

  • Purchaser: SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited)
  • Seller: Sunbeam Lightweighting Solutions Limited (formerly Sunbeam Lightweighting Solutions Private Limited), wholly-owned subsidiary of Craftsman Automation Limited

Strategic Rationale

The asset purchase aims to strengthen and expand SPR Auto's existing piston manufacturing operations. The transaction is in line with the Company's principal line of business and is expected to enhance manufacturing capacity and improve operational efficiencies.

Governance and Related Party Aspects

The promoter/promoter group/group companies of SPR Auto do not have any interest in the Seller entity. The transaction pertains solely to purchase of identified assets and does not involve acquisition of the Seller entity, its business as a going concern, or any equity interest or control therein.