Craftsman Automation IPO: How special is this issue? Check Axis Capital Highlights
Craftsman Automation IPO: Craftsman Automation is a Fresh Issue of Equity shares aggregating upto Rs 150 cr and Offer for sale of upto 4,521,450 equity shares. The Craftsman Automation IPO issue size is of 823 -824 Cr, the Face value is Rs 5 and the Price band is Rs 1488 – Rs 1490. The Bid Lot is of 10 Shares and in multiple thereof. Post Issue the Implied Market Cap of the company will be Rs 3144 cr – Rs 3148 cr.
Craftsman Automation IPO: Craftsman Automation is a Fresh Issue of Equity shares aggregating upto Rs 150 cr and Offer for sale of upto 4,521,450 equity shares. The Craftsman Automation IPO issue size is of 823 -824 Cr, the Face value is Rs 5 and the Price band is Rs 1488 – Rs 1490. The Bid Lot is of 10 Shares and in multiple thereof. Post Issue the Implied Market Cap of the company will be Rs 3144 cr – Rs 3148 cr. The Book Running Lead Managers are Axis Capital, IIFL Securities and the Registrar is Link Intime India. The Issue opens on Monday, 15th March’2021 and closes on Wednesday, 17 thMar’2021.
Craftsman Automation was incorporated on July 18, 1986. The company is led by Srinivasan Ravi, a first generation entrepreneur with over 34 years of Industry experience. The company is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in 3 business segments, namely Automotive - Powertrain and Others, Automotive – Aluminium Products, and Industrial and Engineering.
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In the Automotive - Powertrain and Others segment, their key products are highly engineered and include 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. They are among the top 3-4 component players with respect to machining of cylinder blocks for the tractor segment in India.
Within their Automotive – Aluminium Products segment, they are equipped with an array of processes including the high pressure, low pressure and gravity die casting machines to manufacture components, machining tools for machining and assembly lines.
Within the Industrial and Engineering segment, Craftsman Automation has developed a diverse product portfolio across 2 sub-segments, namely:
(i) the storage solutions sub-segment - the complete solution for conventional/automated storage
(ii) the high end precision products sub-segment – the aluminium products for power transmission, high-end precision products.
Craftsman Automation owns and operates 12 strategically located manufacturing facilities across 7 cities in India, with a total built up area of over 1.5 msf.
Craftsman Automation has strong and well established relationships with several marquee domestic and global OEMs as well as component manufacturers. q The company has received funding from reputed global investors, International Finance Corporation (“IFC”) in 2010 and 2012, and Standard Chartered Private Equity (Mauritius) II Ltd (“SCPE”) in 2012 (which transferred its stake to its Affiliate, Marina III Singapore Pte Ltd (“Marina”) in 2017. IFC and Marina presently have 14.06% and 15.50% shareholding, respectively, in the company
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