Standard Chartered PE invests in Craftsman Automation

MUMBAI: Standard Chartered Private Equity has invested Rs 85 crore for a minority stake in Craftsman Automation, a Coimbatore-based engineering firm.

The money will be used to part-finance the expansion of the company’s manufacturing facilities, spread across six locations in the country.

International Finance Corporation is an existing investor in Craftsman, whose clients include Daimler, Mitsubishi, Caterpillar and Tata Motors.