June 14, 2021

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Craftsman Automation Limited IPO

Craftsman Automation Limited IPO

Craftsman Automation Limited IPO

Incorporated in 1986, Craftsman Automation Ltd is a leading engineering organization that is engaged in manufacturing precision components. The company designs, develop, and manufactures a range of engineering products. It is one of the leading players in the machining of cylinder blocks for the tractor segment.

The business operates 3 key segments namely Automotive-Powertrain and others, Automotive-Aluminium Products, and Industrial and Engineering division that is engaged in manufacturing material handling equipment i.e. hoists, industrial gears, marine engines, crane kits, gearboxes, locomotive equipment, storage solutions, etc.

The company owns 12 state-of-the-art manufacturing facilities across 7 cities of India. Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Siemens, Escorts, Ashok Leyland, VE Commercial Vehicles, TAFE Motors & Tractors, etc.

Competitive Strengths

  • Leading engineering product manufacturer.
  • Strategically located and vertically integrated manufacturing facilities.
  • Strong product design capabilities.
  • Robust financial performance.

Company Promoters:

Srinivasan Ravi is the promoter of the company.

Company Financials:

ParticularsFor the year/period ended (₹ in millions)
30-Sep-2031-Mar-2031-Mar-1931-Mar-18
Total Assets21,681.8523,031.3623,253.9819,994.34
Total Revenue5,365.2015,010.5718,316.4315,228.62
Profit After Tax69.66410.73973.67315.34

Objects of the Issue:

The company purposes to utilize funds towards the following objectives;

  • To make reapayment/pre-payment of company’s borrowing fully or partially.
  • To meet general corporate purposes.

Craftsman Automation IPO Details

IPO Opening DateMar 15, 2021
IPO Closing DateMar 17, 2021
Issue TypeBook Built Issue IPO
Face Value₹5 per equity share
IPO Price₹1488 to ₹1490 per equity share
Market Lot10 Shares
Min Order Quantity10 Shares
Listing AtBSE, NSE
Issue Size[.] Eq Shares of ₹5
(aggregating up to ₹823.70 Cr)
Fresh Issue1,006,711 Eq Shares of ₹5
(aggregating up to ₹150.00 Cr)
Offer for Sale4,521,450 Eq Shares of ₹5
(aggregating up to ₹673.70 Cr)

Craftsman Automation IPO Tentative Timetable

The Craftsman Automation IPO open date is Mar 15, 2021, and the close date is Mar 17, 2021. The issue may list on Mar 25, 2021.

IPO Open DateMar 15, 2021
IPO Close DateMar 17, 2021
Basis of Allotment DateMar 22, 2021
Initiation of RefundsMar 23, 2021
Credit of Shares to Demat AccountMar 24, 2021
IPO Listing DateMar 25, 2021

Craftsman Automation IPO Lot Size

The Craftsman Automation IPO market lot size is 10 shares. A retail-individual investor can apply for up to 13 lots (130 shares or ₹193,700).

ApplicationLotsSharesAmount (Cut-off)
Minimum110₹14,900
Maximum13130₹193,700

Craftsman Automation IPO Promoter Holding

Pre Issue Share Holding63.40%
Post Issue Share Holding59.76%