Craftsman Automation IPO subscribed 55% on Day 1

The Rs 824-crore Craftsman Automation IPO received bids for 21,31,410 shares against 38,69,714 shares on offer

Krsnaa Diagnostics' initial public offer comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares.

New Delhi: The initial public offer of auto component maker Craftsman Automation received 55% subscription on the first day of bidding on March 15.

The Rs 824-crore offer received bids for 21,31,410 shares against 38,69,714 shares on offer, as per data available with the NSE.

The non-institutional investors category was subscribed 9% and that for retail individual investors (RIIs) 1.06 times. The initial public offer comprises a fresh issue of Rs 150 crore and an offer for sale of 45,21,450 equity shares.
The offer is in a price range of Rs 1,488-1,490 per share.

Craftsman Automation on March 12 raised a little over Rs 247 crore from anchor investors.

Net proceeds of the issue will be utilised for repayment or pre-payment of certain borrowings availed of by the company and for general corporate purposes.

Axis Capital and IIFL Securities are the managers of the offer.

Published: March 15, 2021, 20:13 IST
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