Craftsman Automation Signs MoU With Sunbeam Lightweighting Solns & Kedaara Capital Fund | CNBC TV18

When we're watching out for a stock like Craftsman Auto as well, the stock is up in trade today. It's signed an MO U with Sunbeam Lightweighting Solutions and Kedara Capital Fund. They are looking to acquire either the whole or part of the business of Sunbeam in one or more tranches. So there is an acquisition that they are looking at. At the moment. The transaction excludes certain assets in Gurugram, but there are no further details given on the timeline of all the consideration that they will pay for this particular acquisition. Now remember Craftsman Automation is a manufacturer of automobile parts. They produce gears, heavy parts, sheet metal equipment, special purpose machines, etcetera, since its listing in March of 2021. The shares of Craftsman Auto have risen to 50% from the IPO price. The IPO price was 1490 per share. Today the stock is at 5200. So its been a huge up move and on the back of this potential acquisition that the company might do, the stock is up almost about 8 1/2 percent. So big big moves coming in over there but.

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