Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490

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Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490
Craftsman
  • 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.
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.
Craftsman Automation IPO opens next week

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ParticularsIssue details
Opens onMarch 15
Closes onMarch 17
Price band₹1,488–1,490 per share
Minimum bid 10 equity shares
Reservation for qualified institutional buyers50%
Reservation for non-institutional buyers15%
Reservation for retail investors35%

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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