 "Craftsman Automation has many global and domestic clients including Tata Motors, Tata Cummins, M&M, Simpson and Co, Escort, Ashok Leyland, and TVS Motors")
Craftsman Automation, a diversified engineering company with vertically integrated manufacturing, is going public today with a three-day initial public offer (IPO). At the upper end of the Rs 1,488-1,490 price band, the company aims to raise Rs 824 crore.
The issue comprises a fresh issue of Rs 150 crore by the company and remaining by an offer for sale of 4.52 million equity shares. Promoter Srinivasan Ravi will offload 130,640 equity shares through the OFS while Marina III (Singapore) PTE will off load 1.56 million equity shares, International Finance Corporation (IFC) will offload 1.41 million shares, and K Gomatheswaran will offload
