Craftsman Automation IPO Detail: Amid the boom in the stock market, the IPO market continues to stir. Now the IPO of Leading Engineering Organization Craftsman Automation Limited is opening from March 15. According to media reports, the company plans to raise Rs 824 crore through an IPO. The price band for the IPO has been fixed at Rs 1488-1490 per share. Investments can be made in this IPO by March 17. There will be a fresh issue of Rs 150 crore in this issue, while the current shareholders of the company will keep an offer for sale of 45,21,450 shares. On March 25, the company’s listing can be in the stock market.
What is the full plan
In this issue, the promoter of the company Srinivasan Ravi will sell 1,30,640 shares. While investors Marina III (Singapore) Pte Limited and International Finance Corporation will also sell 15,59,260 and 14,14,050 shares through Offer for Sale. Apart from this, another investor K Gomatheswaran will also sell 14,17,500 shares. While a fresh share of 150 crores will be issued. In this way, the size of the issue will be Rs 824 crore. The company will use the money received from the fresh issue of this IPO to repay the debt.
At least how much investment
Craftsman Automation Limited has kept a lot size of 10 shares for this issue. That is, it is necessary to invest in at least 10 stocks. In terms of the upper price band of Rs 1490, investors will have to charge at least Rs 14,900. At the same time, investments can be made in multiples of 10. Axis Capital and IIFL Securities are the book running lead managers to the issue. While Link Intime India Private Ltd has been appointed as the registrar for this issue.
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What does the company do
Craftsman Automation Limited was started in 1986. The company is Leading Engineering Organization, which is engaged in the design, development and manufacturing of many engineering products. It is the leading company in the mining of cylinder blocks in the tractor segment. The company has 12 production units in 7 cities.
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