The purpose of the IPO was to use the proceeds to repay or pre-pay the company's borrowings and to meet general corporate purposes
The Rs 823.7 crore IPO includes a fresh issue of shares worth Rs 150 crore, and an offer-for-sale of up to 45 lakh equity shares in the price band of Rs 1,488-1,490 a share
The Craftsman IPO consists of a fresh issue of Rs 150 crore and the remaining will be sold through an offer for sale.
The company has also decided to allocate 16,58,447 shares to 21 investors. The price per share is Rs 1,490, which amounts to Rs 247.10 crore
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
In all, Craftsman Automation seeks to raise Rs 824 crore, which will be used to repay or prepay borrowings as well as pay for general corporate purposes