Craftsman Automation invests in solar power venture

Craftsman Automation Limited will invest INR 2,57,12,000 in EG Solar Energix Private Limited (EGSEPL) through a Share Subscription-cum-Shareholders Agreement and Power Purchase Agreement. This investment aims to secure a minimum of 26% equity share capital in EGSEPL, aligning with the Electricity Act, 2003, for solar power under a captive scheme.

EGSEPL, incorporated on January 31, 2025, is engaged in power generation and transmission. The transaction is a cash consideration and is expected to be completed by March 31, 2026. This investment is not classified as a related party transaction.