Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO
Auto component manufacturer Craftsman Automation Pvt Ltd has successfully received capital markets regulator Sebi's approval for the launch of its initial public offerings (IPO).
The firm had filed its draft prospectus with SEBI in June. The two PE backers of the company are Standard Chartered Private Equity and International Finance Corporation (IFC), World Bank’s private-sector investment arm.
The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (Singapore) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh).
The funds raised by the company through this public offering are expected to be utilized towards the repayment/pre-payment of certain borrowings and for general corporate purposes fully or partly.
Craftsman Autom...
