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MUMBAI: The Rs 824-crore initial public offer of Craftsman Automation was subscribed 3.81 times on the final day of bidding on Wednesday. A diversified engineering company with vertically integrated manufacturing capabilities has received bids for 1.47 crore shares against the offer size of 38.69 lakh shares.
The high networth individual category was subscribed 2.84 times while the portion reserved for retail investors received bids for 3.41 times the size on offer. Qualified institutional buyers (QIBs) segment was subscribed 5.21 times.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore, and an offer for sale of up to 45,21,450 shares by the promoter and existing shareholders. On Friday, the company raised a little over Rs 247 crore from 21 anchor investors.
Craftsman Automation is a company with vertically integrated manufacturing capabilities and is engaged in three business segments: Automotive - Powertrain and Others, Automotive – Aluminium Products and Industrial and Engineering. It is one of the leading players in the machining of cylinder blocks for the tractor segment.
The high networth individual category was subscribed 2.84 times while the portion reserved for retail investors received bids for 3.41 times the size on offer. Qualified institutional buyers (QIBs) segment was subscribed 5.21 times.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore, and an offer for sale of up to 45,21,450 shares by the promoter and existing shareholders. On Friday, the company raised a little over Rs 247 crore from 21 anchor investors.
Craftsman Automation is a company with vertically integrated manufacturing capabilities and is engaged in three business segments: Automotive - Powertrain and Others, Automotive – Aluminium Products and Industrial and Engineering. It is one of the leading players in the machining of cylinder blocks for the tractor segment.
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