Craftsman Automation IPO to launch today; check lot size, quota and important dates

Craftsman Automation’s initial public offering (IPO) will be launching on 15 March. The size of the IPO is Rs 824 crore with an offer of sale worth Rs 674 crore (45.21 lakh shares) and equity shares of Rs 150 crore. The IPO, which will be closing on 17 March, has a price band per equity share at Rs 1,488 to Rs 1,490.

Before the launch, private investors such as Marina III (Singapore) Pte Ltd and International Finance Corporation (IFC) along with Srinivasan Ravi and K Gomatheswaran are offloading their shares for offer-for-sale.

The company has also decided to allocate 16,58,447 shares to 21 investors. The price per share is Rs 1,490, which amounts to Rs 247.10 crore.

Ahead of its launch, here’s a look at the details of the engineering company’s IPO:

Lot size: The IPO will be available in lot sizes of 10 and the price of per lot is Rs 14,900. One investor is allowed to apply for as many as 13 lots, which makes a total of 130 shares. This means that an investor can apply for 130 shares worth Rs 1,93,700.

Quota: As much as 50 percent of the issue is reserved for qualified institutional buyers (QIBs). Retail investors can purchase 35 percent of the issue, while for non-institutional bidders, 15 percent of the issue has been reserved.

Important dates: The launch date of the IPO is 15 March, and it closes on 17 March. The basis of allotment will be decided by 22 March and the refunds are expected by 23 March. The IPO listing is likely to happen by 25 March.