NEW DELHI: Craftsman Automation made a weak debut on Thursday, because the inventory bought listed at Rs 1,350 on BSE, a 9.40 per cent low cost to its problem worth of Rs 1,490. On NSE, the scrip bought listed at Rs 1,359, down 8.79 per cent.The IPO, which was offered between March 15 and 17, was deemed aggressively priced. Offered within the Rs 1,488-1,490 worth band, the problem acquired a mere 3.82 instances subscription throughout its provide interval.
Craftsman Automation is a number one participant within the machining of cylinder blocks for the tractor section.
The corporate owns 12 vertically built-in manufacturing services throughout seven cities in India, situated near key clients.
Craftsman has 3,600 workers together with 259 administration employees, 1,372 everlasting workmen, 755 apprentices and 1,214 contract workmen. It offers in three segments.
Within the first 9 months of FY21, the corporate’s automotive powertrain section generated 51 per cent of revenues, adopted by automotive aluminum (21 per cent) and industrial engineering (28 per cent).
The corporate has shoppers comparable to M&M, Tata Motors, Ashok Leyland, Daimler India, TAFE, John Deere, Escorts, TVS Motors, Royal Enfield and JCB India. Siemens and Mitsubishi Heavy Industries are amongst its clientele within the industrial and engineering segments.
General, 59 per cent of the corporate’s gross sales within the first 9 months of FY21 had been derived from prime 10 clients. Moreover, practically half of the corporate’s gross sales come from shoppers which were related to the corporate for 10 years or extra.
