Craftsman Automation IPO subscription soars, Retail Portion subscribed 3.44 times
Craftsman Automation IPO subscribed 3.82 times. The public issue subscribed 3.44 times in the retail category, 5.21 times in QIB, and 2.84 times in the NII category by Mar 17, 2021. Analysts say that Craftsman Automation IPO is planned to list the shares on Mar 25. Craftsman Automation is raising 150 cr through fresh issue and Promoter & Individual investors are selling 45.2 lakhs equity shares through an offer for sale in the price band of Rs 1488 – Rs 1490.
Craftsman Automation reported poor consolidated top-line (CAGR of 0.5% over FY2018-20), hence growth concerns remains. The company’s more than 70% revenue comes from the Automotive segment: Reuters