Craftsman Automation noticed good demand for its shares from the certified institutional consumers.
Craftsman Automation share sale through preliminary public providing (IPO) was subscribed 3.81 instances on the ultimate day of subscription. Craftsman Automation obtained over 1.47 crore bids for its shares as in opposition to 38.69 lakh shares on the provide, information from the National Stock Exchange confirmed. A complete of 51,21,100 bids have been obtained on the minimize off worth, in keeping with the NSE.
Craftsman Automation noticed good demand for its shares from the certified institutional consumers (QIBs) because the portion reserved for them was subscribed 4.91 instances. Portions for retail and non-institutional buyers have been subscribed 1.68 and 1.37 instances respectively.
Craftsman Automation offered shares within the worth 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 elements. The firm designs, develops, and manufactures a variety of engineering merchandise. It is without doubt one of the main gamers within the machining of cylinder blocks for the tractor phase.
The firm will use proceeds from the IPO to make reimbursement/pre-payment of firm’s borrowing totally or partially and to fulfill common company functions.
The Craftsman IPO ended on March 17 and 50 per cent of the portion of the IPO is reserved for certified institutional consumers. 35 per cent is reserved for retail buyers whereas 15 per cent is put aside for non-institutional buyers.
