The initial public offering (IPO) of Craftsman Automation will open for subscription on Wednesday, and the company will seek to raise Rs 824 crore from the primary market through the issue.
The company proposes to utilise the net proceeds from the fresh issue towards repayment of borrowings and for general corporate purposes.
Here are key things an investor must know before deciding to subscribe the issue:
- When will the Craftsman Automation IPO open?
Craftsman Automation IPO will open for subscription on Monday, March 15, and close on Wednesday, March 17.
- What is the price band of Craftsman Automation IPO?
The price band for the IPO has been fixed at Rs 1,488-1,490.
- What is the lot size of Craftsman Automation IPO?
Investors can subscribe to the initial public offering (IPO) by betting on a lot of 10 shares or in multiples thereof. Retail investors can bid for a maximum of 13 lots.
- What is the issue size of Craftsman Automation IPO?
The offer includes fresh issue of equity shares aggregating up to Rs 150 crore and offer for sale of up to 4,521,450 equity shares (Rs 674 crore).
- What is the quota reserved for retail investors in Craftsman Automation IPO?
The quota for retail investors in Craftsman Automation IPO has been fixed at 35 per cent of the net offer. The QIB quota is fixed at 50 per cent and the NII quota at 15 per cent.
- Is there any employee quota in the Craftsman Automation IPO?
- When will the basis of share allotment?
The basis of share allotment for the IPO will be decided by March 22 and refunds will be initiated by March 23. Meanwhile, credit of shares to demat accounts is likely by March 24.
- When are Craftsman Automation shares likely to be listed?
Craftsman Automation listing is likely by March 25.
- Where can one check Craftsman Automation IPO share allotment status?
Those who bid for the issue can check the subscription status on: www.linkintime.co.in, the online portal of Link Intime India Private Limited, the registrar to the IPO. The registrar to an IPO is a Sebi-registered entity, qualified to act as such, which electronically processes all applications and carries out the allotment process as per the prospectus.
- What is the asking valuation for Craftsman Automation IPO?
At the upper end of the price band at Rs 575, the stock is valued at 73 times FY20 EPS of Rs 20.41. The company’s full financial year RoE for last three year stood at 6.19 per cent, 15.51 per cent and 5.83 per cent.
- Which are the leading book managers to the issue?
Axis Capital and IIFL Securities are the leading book managers to the IPO.
- What does Craftsman Automation do?
Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive – powertrain and others, automotive – aluminium products, industrial & engineering.
- Who are listed peers of Craftsman Automation?
Some of the listed peers of the company are Bharat Forge, Endurance Tech, Jamna Auto, Mahindra CIE, Minda Industries and Sundaram Fasteners.
Credit: Stocks-Markets-Economic Times