 "Craftsman Automation IPO subscribed 1.26 times on Day 2 of subscription")
Auto component maker Craftsman Automation's initial public offer was subscribed 1.26 times on Tuesday, the second day of subscription.
The Rs 824-crore initial public offer (IPO) received bids for 38,69,714 shares against 48,56,990 shares on offer, according to NSE data.
The portion reserved for qualified institutional buyers (QIBs) was subscribed 56 per cent, non institutional investors 19 per cent, and retail individual investors (RIIs) 2.11 times.
The initial public offer comprises a fresh issue of Rs 150 crore and an offer for sale of 45,21,450 equity shares.
Price range for the offer has been fixed at Rs 1,488-1,490 per share.
Craftsman Automation on Friday 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 to the offer.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app