Craftsman Automation IPO to launch immediately; test lot measurement, quota and vital dates

Craftsman Automation IPO to launch immediately; test lot measurement, quota and vital dates

The corporate has additionally determined to allocate 16,58,447 shares to 21 buyers. The worth per share is Rs 1,490, which quantities to Rs 247.10 crore

Craftsman Automation’s preliminary public providing (IPO) can be launching on 15 March. The dimensions of the IPO is Rs 824 crore with a suggestion of sale value Rs 674 crore (45.21 lakh shares) and fairness shares of Rs 150 crore. The IPO, which can be closing on 17 March, has a worth band per fairness share at Rs 1,488 to Rs 1,490.

Earlier than the launch, non-public buyers akin to Marina III (Singapore) Pte Ltd and Worldwide Finance Company (IFC) together with Srinivasan Ravi and Okay Gomatheswaran are offloading their shares for offer-for-sale.

The corporate has additionally determined to allocate 16,58,447 shares to 21 buyers. The worth per share is Rs 1,490, which quantities to Rs 247.10 crore.

Forward of its launch, right here’s a take a look at the main points of the engineering firm’s IPO:

Lot measurement: The IPO can be out there in lot sizes of 10 and the worth of per lot is Rs 14,900. One investor is allowed to use for as many as 13 tons, which makes a complete of 130 shares. Because of this an investor can apply for 130 shares value Rs 1,93,700.

Quota: As a lot as 50 p.c of the difficulty is reserved for certified institutional patrons (QIBs). Retail buyers can buy 35 p.c of the difficulty, whereas for non-institutional bidders, 15 p.c of the difficulty has been reserved.

Necessary dates: The launch date of the IPO is 15 March, and it closes on 17 March. The premise of allotment can be determined by 22 March and the refunds are anticipated by 23 March. The IPO itemizing is more likely to occur by 25 March.

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