Sundaram-Clayton sells aluminium die-casting business to Sandhar Ascast for ₹163 crore
Sundaram-Clayton Ltd (formerly Sundaram-Clayton DCD Ltd) has entered into a Business Transfer Agreement with Gurgaon-based Sandhar Ascast Private Ltd for the sale of its aluminium die-casting business at the Hosur plant for a total consideration of ₹163 crore.
The deal, executed as a slump sale on March 26, 2025, involves an upfront payment of ₹113 crore by March 29, with the remaining ₹50 crore due by April 15, subject to final adjustments, the company said in a filing to stock exchanges.
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Sandhar Ascast Private Ltd, formerly known as Sandhar Tooling Private 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 the 2023-24 financial year, Sandhar reported a turnover of ₹17.38 crore and a net worth of ₹22.63 crore.
Sundaram-Clayton stated that the decision to divest the die-casting business is to “streamline operations, focus on core business areas, and enhance shareholder value.”
The transaction remains subject to the fulfillment of conditions precedent agreed upon by both parties and is expected to be completed by March 31, 2025.
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