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Craftsman Automation IPO March 10 2021Craftsman Automation IPO launch date End date Pric

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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.

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