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Craftsman Automation IPO: Find opening date, price band and other details here

Craftsman Automation IPO: Find opening date, price band and other details here
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Craftsman Automation IPO: Find opening date, price band and other details here

Craftsman Automation IPO: Discover opening date, value band and different particulars right here

In all, Craftsman Automation seeks to lift Rs 824 crore, which shall be used to repay or prepay borrowings in addition to pay for common company functions

Craftsman Automation IPO: Find opening date, price band and other details here

Representational picture. Daniel Smyth/Unsplash

The preliminary public providing (IPO) of Craftsman Automation will open on Monday (15 March). The value band of the engineering firm’s IPO has been fastened at Rs 1,488 to Rs 1,490 per fairness share. The registrar for the Craftsman IPO is Hyperlink Intime India Non-public Ltd.

Staying energetic for 2 days, the Craftsman Automation IPO will shut on 17 March (Wednesday). As reported by The Financial Occasions, the corporate goals to lift Rs 150 crore with the fairness shares and the supply of sale of as much as 45.21 lakh shares by promoters and shareholders will increase Rs 674 crore. In all, the corporate seeks to lift Rs 824 crore.

The idea of the share allotment shall be selected 22 March whereas refunds shall be initiated by 23 March. Demat accounts will doubtless obtain a credit score of shares on 24 March, the report stated.

Craftsman Automation reportedly plans to make use of the funds raised to repay or prepay the borrowings. It’s going to even be utilizing some a part of the cash for common company functions, a report in Enterprise At the moment stated.

The lot dimension of Craftsman Automation IPO is 10 shares and the associated fee is Rs 14,900. Particular person traders can apply for as many as 13 tons which suggests a complete of 130 shares value Rs 1,93,700.

The itemizing of the Craftsman Automation IPO is prone to be on 25 March.

The Enterprise At the moment added that fifty p.c of the web challenge may be subscribed by Certified institutional consumers (QIBs). As a lot as 35 p.c of the difficulty is for the retail class whereas the non-institutional traders have 15 p.c of the difficulty reserved for them.

The engineering firm shall be itemizing its shares on the Nationwide Inventory Change (NSE) and Bombay Inventory Change (BSE).

Shaped in 1986, the corporate is concerned within the designing, growth and manufacturing of precision merchandise. A number of the main firms like Siemens, Escorts, Mahindra & Mahindra, Royal Enfield, Ashok Leyland and Tata Motors are the purchasers of Craftsman Automation.

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