Craftsman Automation IPO
Craftsman Automation IPO — date, price band, lot size & details 2021
Craftsman Automation listed on 25 Mar 2021 at ₹1,359, 8.8% below the ₹1,490 issue price.
Craftsman Automation makes precision engineered components for automotive powertrains, aluminium products and industrial equipment. Its total income was Rs 1,501.06 crore in FY2020.
Stock price
Craftsman Automation is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 15 Mar 2021
- Close 17 Mar 2021
- Allotment 22 Mar 2021
- Refund/credit 23 Mar 2021
- Listing 25 Mar 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 Mar, 2021 |
|---|---|
| Price Band | ₹1488 – ₹1490 |
| Face Value | ₹5 |
| Lot Size | 10 Shares |
| Issue Size | ₹823.7 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,900 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 10 shares at the ₹1490 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10 | ₹14,900 |
| Retail (max) | 13 | 130 | ₹1,93,700 |
| S-HNI (min) | 14 | 140 | ₹2,08,600 |
| S-HNI (max) | 67 | 670 | ₹9,98,300 |
| B-HNI (min) | 68 | 680 | ₹10,13,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01EBITDA was Rs 406.55 crore in FY2020 on total income of Rs 1,501.06 crore, a margin of about 27%.
- 02Profit after tax was Rs 50.66 crore in the nine months to 31 December 2020, already above the full FY2020 figure of Rs 41.07 crore.
- 03Total borrowing fell from Rs 1,040.65 crore on 31 March 2020 to Rs 890.11 crore on 31 December 2020.
- 04Net worth grew from Rs 541.23 crore on 31 March 2018 to Rs 716.19 crore on 31 December 2020.
- 05Rs 120.00 crore of the fresh issue was planned for repaying debt.
- 06It has 12 plants and a customer list that includes Tata Motors, Daimler India and Mahindra & Mahindra.
Risks · 6
- 01Total income fell from Rs 1,831.64 crore in FY2019 to Rs 1,501.06 crore in FY2020.
- 02Profit after tax fell from Rs 97.37 crore in FY2019 to Rs 41.07 crore in FY2020.
- 03Total borrowing of Rs 890.11 crore on 31 December 2020 was higher than net worth of Rs 716.19 crore.
- 04Rs 673.70 crore of the Rs 823.70 crore issue was offer for sale, so most of the money went to selling shareholders.
- 05The pre-issue P/E was 59.17 at the upper band of Rs 1,490, based on EPS of Rs 25.18.
- 06Promoters and the promoter group held 63.4% before the issue and 59.76% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Craftsman Automation offer document.
| Metric | 31 Dec 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 2,246.29 | 2,303.14 | 2,325.40 | 1,999.43 |
| Total Income | 1,029.91 | 1,501.06 | 1,831.64 | 1,522.86 |
| Profit After Tax | 50.66 | 41.07 | 97.37 | 31.53 |
| EBITDA | 294.64 | 406.55 | 456.68 | 305.18 |
| NET Worth | 716.19 | 663.48 | 627.84 | 541.23 |
| Reserves and Surplus | 761.55 | 708.84 | 673.20 | 586.60 |
| Total Borrowing | 890.11 | 1,040.65 | 985.26 | 846.68 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Craftsman Automation RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Craftsman Automation IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹25.18 | ₹23.98 |
| P/E Ratio (x) | 59.17 | 62.14 |
| Market Cap at Offer Price (₹ Cr) | ₹2,997.75 | ₹3,147.76 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1490 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹140.84 Cr of the issue is earmarked to named objects.
About the company
It has three segments: automotive powertrain and others, automotive aluminium products, and industrial and engineering products such as hoists, industrial gears, marine engine parts, crane kits, gearboxes and storage solutions.
It has 12 manufacturing facilities across 7 cities in India. Customers include Tata Motors, Daimler India, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Siemens, Escorts and Ashok Leyland.
The IPO was Rs 823.70 crore, with Rs 150.00 crore of fresh issue and Rs 673.70 crore of offer for sale. Rs 120.00 crore was planned for repaying borrowings. The promoter is Srinivasan Ravi.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Craftsman Automation IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Craftsman Automation?
The current Grey Market Premium is ₹0.
What is the Craftsman Automation IPO price band?
₹1488 to ₹1490, on a face value of ₹5.
When is the allotment?
The basis of allotment is 22 March 2021, with listing on 25 March 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
