Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490
Mar 9, 2021, 13:55 IST
- The ₹150 crore IPO of Craftsman Automation will open on March 15.
- It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes.
- The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.
- Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland.
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The ₹150 crore initial public offering (IPO) of auto and engineering components maker Craftsman Automation is set to hit the capital markets on March 15. The company has fixed a price band of ₹1,488–1,490 a share for its IPO. The three-day public issue will close on March 17. It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes.
Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in 3 business segments
- Automotive — powertrain and others
- Automotive — aluminium products
- Industrial and engineering.
Particulars | Issue details |
Opens on | March 15 |
Closes on | March 17 |
Price band | ₹1,488–1,490 per share |
Minimum bid | 10 equity shares |
Reservation for qualified institutional buyers | 50% |
Reservation for non-institutional buyers | 15% |
Reservation for retail investors | 35% |
Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and IIFL Securities are the book running lead managers for its public offering IPO.
Craftsman Automation: All you need to know
- The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.
- It owns and operates 12 strategically located manufacturing facilities across 7 cities in India.
- Craftsman has relationships with several marquee domestic and global OEMs as well as component manufacturers. Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland.
- The company has received funding from global investors such as International Finance Corporation (IFC) and Marina III Singapore Pte Ltd. Presently, IFC and Marina have 14.06% and 15.50% shareholding, respectively, in the company.
- Its revenue from operations increased by 20% to ₹1,818 crore in March 2019 (YoY). However, in March 2020 the revenue dipped 17% in the corresponding year-ago period.
- The company’s profit also plunged nearly 59% to ₹57.39 crore in FY20 (YoY).
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