18/6/2024, 6:38:02 pm

Craftsman Automation launches ₹1,200 crore QIP at ₹4,400 per share

Craftsman Automation Ltd initiated a Qualified Institutional Placement (QIP) to raise ₹1,200 crore, offering shares at a floor price of ₹4,400, a 7.7% discount to the closing price. Axis Capital is the sole Book Running Lead Manager for the transaction. The diversified engineering company plans to utilize the funds to strengthen its business segments in the automotive and industrial sectors.