MUMBAI: The Rs 824-crore preliminary public provide of Craftsman Automation was subscribed 3.81 instances on the ultimate day of bidding on Wednesday. A diversified engineering firm with vertically built-in manufacturing capabilities has obtained bids for 1.47 crore shares in opposition to the provide dimension of 38.69 lakh shares.
The excessive networth particular person class was subscribed 2.84 instances whereas the portion reserved for retail buyers obtained bids for 3.41 instances the scale on provide. Certified institutional patrons (QIBs) phase was subscribed 5.21 instances.
The IPO contains a contemporary concern of fairness shares aggregating as much as Rs 150 crore, and a suggestion on the market of as much as 45,21,450 shares by the promoter and current shareholders. On Friday, the corporate raised somewhat over Rs 247 crore from 21 anchor buyers.
Craftsman Automation is an organization with vertically built-in manufacturing capabilities and is engaged in three enterprise segments: Automotive – Powertrain and Others, Automotive – Aluminium Merchandise and Industrial and Engineering. It is among the main gamers within the machining of cylinder blocks for the tractor phase.
