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Craftsman Automation: On Day 1 of IPO, 55% of subscription provided; QIBs yet to bid – Business News , Firstpost



The Craftsman IPO consists of a recent difficulty of Rs 150 crore and the remaining shall be offered by way of a suggestion on the market.

On day one, 55 p.c of Craftsman Automation preliminary public providing (IPO) has been subscribed. The provide dimension of the Craftsman IPO is 38.69 lakh fairness shares and to date, it has obtained provides for 21.31 lakh fairness shares.

As reported by Moneycontrol, the non-institutional buyers’ reserved portion of the problem has been subscribed 9 p.c whereas the retail buyers subscribed to the problem 1.06 instances. The report mentions that certified institutional consumers haven’t began bidding for the Craftsman IPO yet.

Selling its shares within the worth band of Rs 1,488- Rs 1,490 per fairness share, the corporate plans to increase funds price Rs 823.70 crore from the problem. The Craftsman IPO consists of a recent difficulty of Rs 150 crore and the remaining shall be offered by way of a suggestion on the market.

The lot dimension of Craftsman IPO is 10 and an investor can apply for a most of 13 tons. The worth of 130 shares is Rs 1,93,700.

Speaking in regards to the difficulty, ICICI direct has beneficial buyers subscribe. It acknowledged, “With a lumpy capex cycle behind it and focus on debt reduction, it is well poised to clock healthy returns ratios in FY22-23. At IPO price, it is offered at reasonable forward valuations,” reported Moneycontrol.

Through a suggestion on the market within the Craftsman IPO, buyers Ok Gomatheswaran, Marian III (Singapore) PTE and International Finance Corporation, promoter Srinivasan Rani will offload their shares.

Allotment of shares is anticipated to be finalised by 22 March and the itemizing of Craftsman IPO shall be on 25 March.

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