Craftsman Automation IPO price band fixed at Rs 1,488-1,490 share

NEW DELHI: Craftsman Automation, which will hit the market with its Rs 824 crore IPO on March 15, has set the price band for the issue at Rs 1,488-1,490 apiece. The IPO will conclude on March 17.

On the offer is a fresh issue of equity shares aggregating up to Rs 150 crore, and an offer for sale (OFS) of up to 4,521,450 equity shares.

At the price band, the implied market capitalisation post-issue would be Rs 5,528.16 crore.


Investors can bid for a minimum of one lot of 10 shares and in multiples thereafter.

Craftsman Automation is a diversified engineering company, with vertically integrated manufacturing capabilities, engaged in three business segments: Automotive, Powertrain and Others; Automotive – Aluminium Products, and Industrial and Engineering. The company owns 12 strategically located manufacturing facilities across seven cities in India.

In the Automotive - Powertrain and Others segment, the company offers highly engineered products such as engine parts. Craftsman 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.

It is among the top 3-4 component players with respect to the machining of cylinder block for the tractor segment in India.

Within its Automotive – Aluminium Products segment, Craftsman is engaged in high pressure, low pressure and gravity die casting machines to manufacture components, machining tools for machining and assembly lines. In its Industrial and Engineering segment, Craftsman has two sub-segments: storage solutions and high-end precision products.

Bharat Forge, Endurance Technologies, Jamna Auto, Mahindra CIE Automotive, Minda Industries, Sundaram Fasteners and Ramkrishna Forgings are some of the company's peers in the listed space.