The public offering comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer-for-sale of up to 45,21,450 shares by the promoter and existing shareholders
Auto component maker Craftsman Automation will open its initial public offering (IPO) worth Rs 824 crore on Monday (15 March). The public issue will end on 17 March.
The public offering comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer-for-sale of up to 45,21,450 shares by the promoter and existing shareholders.
The main purpose of the IPO is to use the funds to make repayment or pre-payment of the company’s borrowing either fully or partially and to meet general corporate purposes. The price band of the issue has been fixed at Rs 1,488 to Rs 1,490 per share.
Investors need to know that 50 percent of the issue is reserved for qualified institutional buyers, 35 percent for retail investors and 15 percent for non-institutional bidders. There are two lead managers for the issue — Axis Capital and IIFL Securities — while the registrar is Link Intime India Private Ltd.
The company on 12 March has raised a little over Rs 247 crore from anchor investors ahead of its initial share-sale. According to a circular by BSE, the company’s IPO committee, in consultation with merchant bankers, has decided to allocate a total of 16,58,447 shares at Rs 1,490 to 21 anchor investors, aggregating to Rs 247.10 crore.
HSBC Global Investment Funds, Tata Mutual Fund (MF), Aditya Birla Sunlife MF, The Nomura Trust and Banking Co Ltd, Max Life Insurance Co Ltd among others are the anchor investors.
How to apply?
Investors can apply online using either UPI (offered by brokers who don’t offer banking services) or ASBA (available in the net banking of your bank account) as a payment method.
Investors can also apply by visiting the official website of brokers such as Zerodha, Upstox etc. If an investor wants to apply through Zerodha using UPI as a payment gateway, they can do so by logging in to Zerodha Console (back office) and submitting an IPO application form.
Steps to apply through Zerodha:
1. Visit the Zerodha website: https://zerodha.com/ and login to ‘Console’.
2. Go to ‘Portfolio’ and click the IPOs link.
3. Go to the ‘Craftsman Automation IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. Submit the IPO application form.
6. To approve the mandate, visit the UPI App (net banking or BHIM).
How to apply without UPI
Investors can even apply for the IPO without UPI via ASBA net-banking services, which will be provided by your company and then you will have to give your Zerodha demat account number so that the allotted IPO shares are credited to your account.
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