M&A

M&A

Sundaram-Clayton sells aluminium die-casting biz to Sandhar Tech unit for Rs.163-Cr

BSE Announcement   Business Line   Sundaram-Clayton  

Chennai-based Sundaram-Clayton , a part of the TVS Group, is to sell the aluminium die-casting business at its Hosur plant for INR 163 crore to Gurugram-based Sandhar Ascast Pvt Ltd. The deal was executed as a slump sale involving an upfront payment of INR 113 crore by March 29, with the remaining INR 50 crore to be paid by April 15.Sandhar Ascast Pvt Ltd, formerly known as Sandhar Tooling Pvt Ltd, is a wholly-owned subsidiary of Sandhar Technologies Ltd, specializing in manufacturing automotive components for Original Equipment Manufacturers (OEMs) in India and overseas. In FY24, Sandhar reported a turnover of INR 17.38 crore and a net worth of INR 22.63 crore.