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Acquisition
Sunita Tools Acquisition
Sunita Tools acquired a 90% stake in a capital goods manufacturer. It also added two new CNC machines to its subsidiary to meet rising demand.
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Sunita Tools acquired a 90% stake in a capital goods manufacturer. It also added two new CNC machines to its subsidiary to meet rising demand.
Sunita Tools Limited's subsidiary, Sunita Defence Inc, acquired a 51% stake in US-based New Mold Innovations LLC for ₹3.98 Crore (USD 419,000). The acquisition provides entry into the US specialty grease and mold manufacturing markets. The deal involves two tranches and a preferred profit distribution mechanism until recovery of USD 344,000.