Craftsman Automation Limited IPO – Mar 15 to 17

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Craftsman Automation Limited IPO – Mar 15 to 17

March 12, 2021
Craftsman Automation Limited IPO – Mar 15 to 17

Craftsman Automation Limited is coming out with a fresh public issue to raise Rs 824 crores from the market.

Key details of the issue:

  • Issue opens – Mar 15 (Monday)
  • Issue closes – Mar 17 (Wednesday)
  • Issue size – Rs 824 crores
  • Price band – Rs 1,488 to 1,490 per equity share
  • Bid lot – 10 shares and in multiples thereof

And here are some details of the company and further details on the Craftsman Automation Limited issue.

Company details:

Craftsman Automation Limited commenced operations in 1986 in Coimbatore, Tamil Nadu, India. The company owns and operates 12 strategically located manufacturing facilities across seven cities in India. The company is a diversified Engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely:

  • Powertrain and other products for the Automotive segment
  • Aluminium products for the Automotive segment
  • Industrial and Engineering products

The company is the largest player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles segment as well as in the construction equipment industry in India.

The company is among the top 3–4 component players with respect to machining of cylinder block for the tractor segment in India (Source: CRISIL Report). The company is also present across the entire value chain in the Automotive-Aluminium Products segment, providing diverse products and solutions.

Within the Industrial and Engineering segment, it has utilised its in-house engineering and design capabilities and developed a diverse product portfolio across two sub-segments, namely:

  • Storage Solutions – Under this sub-segment, it has the complete solutions for conventional/automated storage
  • High-end Precision Products – Under this sub-segment, it manufactures aluminium products for power transmission; high-end precision products; and undertakes sub-assembly, material handling equipment such as hoists, crane kits and industrial gears, manufactures gear and gear boxes, marine engines and accessories, special purpose machines, which includes metal cutting and non-metal applications such as washing and leak testing solutions and tool room, mould base and sheet metal

The company has long-term relationships with several marquee domestic and global original equipment manufacturers and component manufacturers across its 3 business segments. Within its Automotive – Powertrain and Others segment, its key customers include Daimler India, Tata Motors, Tata Cummins, Mahindra & Mahindra, Simpson & Co., TAFE Motors and Tractors, Escorts, Ashok Leyland, Perkins, Mitsubishi Heavy Industries, John Deere and JCB India.

Within its Automotive – Aluminium Products segment, its key customers include Daimler India, TVS Motors, Royal Enfield, Perkins and Mahindra & Mahindra.

Key customers within its Industrial and Engineering segment include Siemens and Mitsubishi Heavy Industries.

Issue size: Rs 824 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 412 crores

  • NIB – 15% of the offer – Rs 124 crores

  • RET – 35% of the offer – Rs 288 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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