Sundaram-Clayton Ltd (formerly Sundaram-Clayton DCD Ltd) has announced the sale of its aluminium die-casting business at the Hosur plant to Gurgaon-based Sandhar Ascast Private Ltd. The procedure was followed by a Business Transfer Agreement valued at INR 163 crore. The company stated that this decision is aimed at streamlining operations, focusing on core business areas, and enhancing shareholder value.
Sundaram-Clayton Ltd has finalised the sale of its aluminium die-casting business through a slump sale, effective March 26, 2025. According to a filing with stock exchanges, Sandhar Ascast Private Ltd will make an upfront payment of INR 113 crore by March 29, with the remaining INR 50 crore due by April 15, subject to final adjustments.
Sandhar Ascast Private Ltd, formerly known as Sandhar Tooling Private Ltd, is a wholly owned subsidiary of Sandhar Technologies Ltd. The company specialises in manufacturing automotive components for Original Equipment Manufacturers (OEMs) in India and internationally.
In the financial year 2023-24, Sandhar Technologies reported a turnover of INR 17.38 crore and a net worth of INR 22.63 crore. The completion of the transaction is contingent upon the fulfilment of certain conditions precedent agreed upon by both parties and is anticipated to conclude by March 31, 2025.
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