Craftsman Automation shares made a tepid opening on the inventory exchanges. Craftsman Automation shares opened for buying and selling at a reduction of practically 9 per cent at Rs 1,359 towards its difficulty worth of Rs 1,490. However, Craftsman Automation shares quickly bounced again from intraday low and have been buying and selling 8 per cent greater at Rs 1,461 from the opening worth however down 2 per cent from the difficulty worth.
Craftsman Automation share sale by way of 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 towards 38.69 lakh shares on the supply, knowledge from the National Stock Exchange confirmed. A complete of 51,21,100 bids have been obtained on the reduce off worth, in line with the NSE.
Craftsman Automation noticed good demand for its shares from the certified institutional patrons (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 bought shares within the worth band of Rs 1,488 to 1,490 per fairness share and on the higher band firm plans to boost 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 variety of engineering merchandise. It is likely one of the main gamers within the machining of cylinder blocks for the tractor phase.
