Craftsman Automation to list shares at Rs 1,488 at least for March 15 IPO

Craftsman Automation is a diversified engineering company, with vertically integrated manufacturing capabilities

Craftsman Automation, an engineering company, has said that its Rs 824 crore IPO will open for subscription on March 15, giving two major investors to partially exit through the listing.

The company has fixed the price band at Rs 1,488-Rs 1,490 per share with a face value of Rs 5 each.

The public issue comprises a fresh issue of equity shares worth Rs 150 crore and offer-for-sale (OFS) of up to 45.21 lakh equity shares by promoters and existing shareholders.

Srinivasan Ravi, K Gomatheswaran, and Marina III (Singapore) Pte Ltd and International Finance Corporation will sell half of the shares.

Srinivasan Ravi owns has