Craftsman Automation has set a price band of
Rs 1,488-1,490 per share for its Rs 824 crore Initial Public Offering (IPO)
which is all set to hit the market on March 15th. The firm will utilize net fresh issue funds for debt
repayment purpose. The Initial Public Offering will end on March 17th. A
fresh issue of equity shares worth up to Rs 150 crore is on offer, an offer for
sale (OFS) of up to 4,521,450 equity shares as well.
The implied market capitalization post-issue
is at the price band of Rs 5,528.16 crore. Investors can bid for a minimum of
one lot of ten shares and in multiples of 10 thereafter.
Via the offer for sale (OFS) route, promoter
Srinivasan Ravi will sell 1,30,640 equity shares, while investors Marina III
(Singapore) Pte Limited and International Finance Corporation will sell
15,59,260 and 14,14,050 equity shares respectively. K Gomatheswaran, an
individual shareholder, will also sell 14,17,500 equity shares throgh the OFS.
Craftsman Automation is a vertically
integrated engineering corporation with three business segments: automotive,
powertrain, and others; automotive – aluminum products; and industrial and
engineering. The corporation owns 12 manufacturing facilities in India, spread
across seven cities. The company claimed to be India's largest player in
cylinder block and cylinder head machining for intermediate, medium, and heavy
commercial vehicles, as well as the construction equipment sector.
Daimler India, Tata Motors, Tata Cummins,
Mahindra & Mahindra, Simpson & Co, TAFE Motors and Tractors, Escorts,
Ashok Leyland, Perkins, Mitsubishi Heavy Industries, TVS Motor, and Royal
Enfield are among the flagship domestic and global original equipment
manufacturers and component manufacturers with which Craftsman has long-term
relationships across three market segments.
Apply Craftsman Automation IPO - https://ipo.indiratrade.com:83/