Craftsman Automation IPO – Review, Allotment, Subscription, Price, Date & more

Craftsman Automation are a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely powertrain and other products for the automotive segment (“Automotive -Powertrain and Others”), aluminium products for the automotive segment (“Automotive – Aluminium Products”), and industrial and engineering products segment (“Industrial and Engineering”). The Company has issued 4,383,320 Equity shares of Rs.5 each.

Let’s have a detailed review of the company and analytics of the Craftsman Automation IPO release date, IPO offer price, subscription,Craftsman Automation IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Craftsman Automation IPO Review & Ratings

Craftsman Automation IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★★☆

Summary of Craftsman Automation IPO

Craftsman Automation IPOCraftsman Automation are a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely powertrain and other products for the automotive segment (“Automotive -Powertrain and Others”), aluminium products for the automotive segment (“Automotive – Aluminium Products”), and industrial and engineering products segment (“Industrial and Engineering”). The manufacturing facilities of the company include aluminium foundries, pressure die casting facilities, machining and allied facilities, heat treatment, fabrication, and assembly facilities. 

The company own and operate 11 strategically located manufacturing facilities across seven cities in India, with a total built up area of over 1.5 million sq. ft. Its facilities are equipped with advanced machinery, including imported state of-the-art computer numerical control (“CNC”) machine tools and die casting machines and certain of the facilities are located close to the key customers to enable meeting the customers’ just-in-time delivery schedules, allow economies of scale and logistical advantages for each of the customers, and to insulate them from local supply or other disruptions.

The Promoter of this company is Srinivas Ravi. The lead manager to the issue are ICICI Securities Limited, IIFL Holdings Limited, and SBI Capital Markets Limited. The Registrar to this issue is Link Intime India Private Limited. 


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Craftsman Automation IPO Date

The opening and the closing date of IPO of Craftsman Automation IPO is not known yet.


Craftsman Automation IPO Subscription

 Subscription
Day 1X
Day 2 X
Day 3X
Day 4 X
Day 5 X

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Craftsman Automation IPO Allotment Status

The Issue is being made through the Fixed Price Process wherein up to 4,383,320 Equity Shares shall be reserved for Market Maker upto X Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.


Craftsman Automation IPO Price Band

The face value of each share is Rs 5,  and the price band of the IPO is not yet disclosed. 


Craftsman Automation IPO Equity Share Offering

4,383,320 Equity Shares of Rs 5 each but Issue Price is yet to be disclosed so it will be aggregated to Rs 4,000 million.


Craftsman Automation – Company Overview

Craftsman Automation is a diversified engineering company who commenced their operations in 1986 in Coimbatore, in the State of Tamil Nadu, India, founded by the company’s Promoter, Chairman and Managing Director, Srinivasan Ravi, a mechanical engineer and a first-generation entrepreneur with over 32 years of relevant industry experience. The manufacturing facilities of the company include aluminium foundries, pressure die casting facilities, machining and allied facilities, heat treatment, fabrication, and assembly facilities.

The company’s strong in-house engineering and design capabilities help offer comprehensive solutions and products to the long standing marquee domestic and international customers in the segments in which the company operate. Craftsman Automation is the largest player involved in the machining of cylinder blocks and cylinder heads in the medium and heavy commercial vehicles category and are among the top three players in machining for the tractor segment.

Competitive Strengths of Craftsman Automation:

  • Quality
  • Cost
  • Delivery
  • Technical capability
  • Level of vertical/ horizontal integration
  • Quality of management

Business strategies of Craftsman Automation

  • Leverage vertically integrated manufacturing and engineering capabilities, to tap the growing opportunities for aluminium usage in the Automotive – Aluminium Products and Industrial and Engineering segments.
  • Increase the wallet share and acquire new business by leveraging existing OEM relationships and adding new customers.
  • Explore opportunities to grow the business through import substitution, particularly in the Industrial and Engineering segment, with focus on locomotive components and assembly, and aluminium products for power transmission.
  • Pursue emerging opportunities, including storage solutions and material handling.
  • Explore strategic alliances, partnerships, growth of the joint ventures, inorganic growth through strategic
    acquisitions and other initiatives.

Craftsman Automation– Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Dec-1731-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets18,929.9718,146.9414,700.52 13,773.6512,576.95
Total Revenue10,868.6812,213.109,966.638,680.047,007.84
Total Expense10,699.3311,860.449,413.138,366.606,588.11
Profit After Tax20.03(70.97)108.05105.64186.43

 

Earnings per Equity Share (in Lakhs)

31-Dec-1831-Mar-1731-Mar-16
Basic 150.40423.30443.33
Diluted 150.40423.30443.33

 


Craftsman Automation IPO – Promoters

The Promoter of this company  is Srinivas Ravi

List of Related Parties (Key Managerial Personnel)

  • Shainshad Aduvanni
  • Company Secretary
  • Compliance Office

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Craftsman Automation IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 4,383,320 Equity Shares of Rs 5/- each at an Issue Price (yet to be disclosed aggregating to 4,000 million
 Of which:
 Reserved for Market Makers X Equity Shares of Rs 5/- each at an issue price.
 Net Issue to the Public X Equity Shares of Rs 5/- each at an issue price.
 Of which:
 Retail Investors Portion X Equity Shares of Rs 5/- each at an Issue Price
 Non-Retail Investors PortionX Equity Shares of Rs 5/- each at an Issue Price.
 Equity Shares outstanding prior to the Issue20,121,600 Equity Shares of Rs 5/- each
 Equity Shares outstanding after the IssueX Equity Shares of Rs 5/- each

Craftsman Automation IPO Issue Object

These are the IPO Issue Objects of the company

  • Repayment/pre-payment, in full or part, of certain borrowings
  • General corporate purposes

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Craftsman Automation IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

    • Diversified engineering company with vertically integrated manufacturing capabilities and a focus on providing comprehensive solutions and manufacturing high quality, intricate and critical products, components and parts.
    • Strong in-house process and product design capabilities.
    • Long term and well established relationships with marquee domestic and global OEMs.
    • Extensive manufacturing footprint, with strategically located manufacturing facilities having the ability to interchange capacity and product mix.
    • Experienced management team supported by motivated and skilled work force.
    • Robust financial performance

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-17423.308.17%X
31-Mar-16443.339.32%X
31-Mar-15206.764.76%X
  • Industry P/E Ratio:
ParticularsP/E ratio
Average33.67
Highest44.99
Lowest25.31
  • Competitive Peers:

Craftsman PEER


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Craftsman Automation IPO Lead Managers

Lead Managers
ICICI Securities Limited

IIFL Holdings Limited

SBI Capital Markets Limited

Craftsman Automation IPO Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st floor, 247 Park, L. B. S. Marg, Vikhroli West
Mumbai 400 083, Maharashtra, India
Tel: (91 22) 4918 6200, Facsimile: (91 22) 4918 6195
E-mail: craftsman.ipo@linkintime.co.in
Investor grievance E-mail: craftsman.ipo@linkintime.co.in
Website: www.linkintime.co.in, Contact Person: Shanti Gopalkrishnan
SEBI Registration No: INR000004058

Other Details:

  • Statutory Auditor –PKF Sridhar & Santhanam LLP, Chartered Accountants
  • Peer Review Auditor – PKF Sridhar & Santhanam LLP
  • Bankers to the Company –  ICICI Bank Limited, RBL Bank Limited, Indian Bank, Kotak Mahindra Bank Limited

Craftsman Automation IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Craftsman Automation IPO Grey Market Premium

The Craftsman Automation IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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Craftsman Automation IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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