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Coimbatore-based Auto components maker Craftsman Automation, whose initial public offer (IPO) hit the market between March 15 and 17, is likely to be listed on the BSE and NSE on March 25. The Rs 823.7 crore was sold in a price band of Rs 1,488-1,490 per share. In the grey market on Tuesday, Craftsman Automation shares were trading at Rs 1,525, implying a premium of Rs 35 or 2.34% over the issue price.

Craftsman Automation issue was subscribed 3.81 times as the public offer received bids for 1.47 crore shares as compared to 38.69 lakh shares on offer. The category for qualified institutional buyers (QIBs) was subscribed 5.21 times, non-institutional investors 2.84 times and retail individual investors (RIIs) 3.43 times. Investors can check their allotment status by using any one of the below two methods

Registrar’s website
Go to the website of the IPO registrar, Link Intime India or click on https://linkintime.co.in/IPO/public-issues.html

Select IPO (Craftsman Automation)

Then, select one of the options: In case you select the application number, choose NON-ASBA or ASBA and enter the application number.

In case of DPID/Client ID, select NSDL/CDSL and enter DPID.

In case of PAN, enter the PAN Number.

Enter the captcha

Click on the Submit button to know the IPO share allocation status.

Check IPO allotment through BSE website

Go to BSEIndia.com or click

Click on investors > Status of Issue Application > Application Status Check

Select issue type (equity) and Issue Name (Craftsman Automation).

Enter the application number and PAN Number.

Click on the search button to know the IPO allotment status.

The IPO is a mix of an offer for sale (OFS) and a fresh issue of shares. The company will raise Rs 150 crore by issuing 10,06,711 equity share of Rs 5 face value. The offer for sale consists of 45,21,450 equity shares offered by existing shareholders.

Promoter Srinivasan Ravi will sell 1,30,640 equity shares, and investors Marina III (Singapore) Pte Limited and International Finance Corporation will divest 15,59,260 equity shares and 14,14,050 equity shares, respectively, through the OFS route. Individual shareholder K Gomatheswaran will also sell 14,17,500 equity shares via OFS.

Proceeds from the fresh issue will be used to repay some of the company’s borrowings. As of September, the company had total secured borrowings long & short term of Rs 963.48 crore.

Incorporated in 1986 & headquartered in Coimbatore, Craftsman Automation is diversified engineering engaged in three business segments – powertrain and other products for the automotive segment; aluminium products for the automotive segment; and industrial and engineering products segment.

The company has long-term relationships with the likes of Daimler India, Tata Motors, Tata Cummins, Mahindra & Mahindra, Simpson & Co, TAFE Motors and Tractors, Escorts, Ashok Leyland, Perkins, Mitsubishi Heavy Industries, TVS Motor, Royal Enfield, John Deere and JCB India.

The book operating lead managers to the issue are Axis Capital and IIFL Securities, whilst the registrar to the issue is Link Intime India.