Retail buyers can purchase Craftsman Automation shares within the lot measurement of 10 shares as much as 13 tons.
Craftsman Automation’s share sale by way of preliminary public providing (IPO) opened for subscription on Monday (March 15). The firm is promoting its shares within the value band of Rs 1,488 to 1,490 per fairness share and on the higher band firm plans to lift Rs 823.70 crore from the IPO. Craftsman Automation is an engineering group that’s engaged in manufacturing precision parts. The firm designs, develops, and manufactures a spread of engineering merchandise. It is among the main gamers within the machining of cylinder blocks for the tractor phase.
“Craftsman is the largest player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles segment as well as in the construction equipment industry in India. They are among the top 3-4 component players with respect to machining of cylinder block for the tractor segment in India,” HDFC Securities stated in a analysis observe.
The Craftsman IPO will finish on March 17 and 50 per cent of the portion of the IPO is reserved for certified institutional patrons. 35 per cent is reserved for retail buyers whereas 15 per cent is put aside for non-institutional patrons.
Retail buyers can purchase Craftsman Automation shares within the lot measurement of 10 shares as much as 13 tons that’s 130 shares. At the higher value band 130 shares will value Rs 193,700.
The firm will use proceeds from the IPO to make reimbursement/pre-payment of firm’s borrowing totally or partially and to fulfill normal company functions.
Craftsman Automation IPO was subscribed 24 per cent as of 12:10 pm, based on the National Stock Exchange information.
