Craftsman Automation’s wholly-owned subsidiary, DR Axion India Private Limited, will acquire Suprash Developers Private Limited and its wholly-owned subsidiary, Srikara Technologies Private Limited. The acquisition, valued at ₹145.84 crore, will provide DR Axion with 52.83 acres of land for setting up a new manufacturing plant in the Chennai Metropolitan Area. The deal is expected to close by December 31, 2025.
Strategic Land Acquisition
DR Axion India Private Limited, a wholly-owned subsidiary of Craftsman Automation, has entered into a Share Purchase Agreement (SPA) on December 19, 2025, to acquire 100% of the equity shares of Suprash Developers Private Limited. This acquisition will also indirectly result in DR Axion acquiring Srikara Technologies Private Limited, a wholly-owned subsidiary of Suprash.
Land for Expansion
The acquired entities collectively own 52.83 acres of land in Araneri Village, Sriperumbudur Taluk, Kancheepuram District. This land will be utilized by DR Axion to establish a new manufacturing plant, expanding its operational footprint in the Chennai Metropolitan Area. The land is intended for the development, leasing, or licensing of industrial projects.
Deal Terms
The aggregate consideration for the acquisition of Suprash is ₹145,84,69,800. Upon completion, Suprash will become a wholly-owned subsidiary of DR Axion, and Srikara will become a step-down subsidiary of DR Axion and Craftsman Automation.
Acquisition Timeline
The acquisition is expected to be completed on or before December 31, 2025.
Source: BSE