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Craftsman Automation IPO opens tomorrow: All you need to know
Investors can bid for a minimum of 10 equity shares and in multiples thereafter. The minimum investment amount will be ₹14,900 per lot.
Craftsman Automation Ltd will open its ₹824 crore initial public offering (IPO) for subscription on Monday. The company has fixed the price band at ₹1,488- ₹1,490 per equity share. The issue will comprise a fresh issue of equity shares of ₹150 crore and an offer for sale of ₹45.21 equity shares both by the promoters as well as the existing shareholders of the company. The IPO will close on March 17.
Here’s everything you need to know about the Craftsman Automation Ltd IPO:
1. Investors can bid for a minimum of 10 equity shares and in multiples thereafter. The minimum investment amount will be ₹14,900 per lot.
2. Of the net issue, 50 per cent will be reserved for the qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for the retail category.
3. Except for the anchor investors, all bidders are required to participate through the application supported by a blocked amount (ASBA) process.
4. The book running lead managers of the IPO are Axis Capital Ltd and IIFL Securities Ltd.
5. Link Intime India Private Ltd will be the registrar of the issue.
6. The equity shares will also get listed on the BSE and the NSE.
7. Craftsman Automation which was started in 1986 in Coimbatore, Tamil Nadu, has been engaged in three major business segments which are: powertrain and other products for the automotive segment, aluminium products in the automotive segment and industrial and engineering products segment. The company owns and operates twelve manufacturing facilities in seven of the country.
8. In the nine months ended on December 31, 2020, the company reported a net profit of ₹50.66 crore and revenue of ₹1,022.79 crore.
9. Ahead of the IPO, the company also finalised the allocation of 16,58,447 shares to anchor investors on Friday, at ₹1490 per share, aggregating to ₹247.10 crore.
