Craftsman Automation shares made a tepid opening on the inventory exchanges. Craftsman Automation shares opened for buying and selling at a reduction of almost 9 per cent at Rs 1,359 towards its problem value of Rs 1,490. However, Craftsman Automation shares quickly bounced again from intraday low and have been buying and selling eight per cent larger at Rs 1,461 from the opening value however down 2 per cent from the problem value.
Craftsman Automation share sale by way of preliminary public providing (IPO) was subscribed 3.81 instances on the ultimate day of subscription. Craftsman Automation acquired over 1.47 crore bids for its shares as towards 38.69 lakh shares on the provide, knowledge from the National Stock Exchange confirmed. A complete of 51,21,100 bids have been acquired on the reduce off value, in line with the NSE.
Craftsman Automation noticed good demand for its shares from the certified institutional patrons (QIBs) because the portion reserved for them was subscribed 4.91 instances. Portions for retail and non-institutional traders have been subscribed 1.68 and 1.37 instances respectively.
Craftsman Automation offered shares within the value band of Rs 1,488 to 1,490 per fairness share and on the higher band firm plans to lift Rs 823.70 crore from the IPO.
Craftsman Automation is an engineering group that’s engaged in manufacturing precision parts. The firm designs, develops, and manufactures a spread of engineering merchandise. It is among the main gamers within the machining of cylinder blocks for the tractor phase.