Craftsman Automation is a well-diversified engineering organization and is constantly aligned with enhancing its manufacturing capabilities. Other than this, it has three business segments that incorporate powertrain along with other products specifically focused on the automotive segment. Also, they are engaged in aluminium products concerning the automotive segment that is named as Aluminium products. Also, they have a specific engineering and industrial products segment with the name of the “Industrial and Engineering” domain. Concerning the manufacturing capabilities of the company, they are engaged in heat treatment, allied and machining facilities, assembly services and fabrication facilities.
They have control of 11 smartly situated manufacturing units in India spread over 7 cities. The aggregate built-up area for these units is 1.5 million sq feet. With a combination of advanced machinery and proficient computer numerical control tools among other significant technologies and machinery, the manufacturing facilities are certainly exceptional. These units are centrally located in proximity to key customers and allow them to fulfil the customers delivery schedules within the deadlines. Further, the company aims to enhance the logistical advantages for all the clients and eliminate interruptions in the supply chain.
Strength
Craftsman Automation has a robust in-house design and engineering potential in order to render products and solutions for the lasting marquee domestic and global clients across varying segments of operation. They are certainly one of the leading players in the machining of cylinder heads and cylinder blocks concerning heavy and medium scale commercial vehicles. They are in the top three industry specialists for the machining of the tractor segment. Their exclusive strengths include,
- A diversified engineering capacity with integration into manufacturing units and an emphasis on extending comprehensive solutions for extensive quality and detailed work in their products.
- In-house capability to facilitate process and design expertise.
- Expansive network and accurately established relations with international and domestic OEMs.
- A robust manufacturing presence in the market for equipping an interchangeable capability and product-mix.
- An expert team of management professionals enhances the efficiency of the organization.
- Financial strength in the market.
IPO Details
Craftsman Automation is a significant auto component developer and has proposed an IPO for which it has received confirmation from SEBI. They will be planning to offer a fresh issue of shares with a total of INR 150 crores along with an offer for sale with a share count of 45, 21, 450 shares extended by the shareholders and promoters according to the Draft Red Herring Prospectus.
The offloading shares listed in offer-for-sale belong to K Gomatheswaran, Srinivasan Ravi, International Finance Corporation and Marina III from Singapore. Presently, IFC and Marina make a total of 14.06 % and 15.50% stakes. Other than that, Srinivasan Ravi has 52.83% stakes and the rest 7.04% belong to K Gomatheswaran. The issue will be overlooked by IIFL Securities and Axis Capital as they are the lead managers for this issue. Craftsman Automation will be listing the shares on NSE and BSE. Besides, the IPO will be promoted by Srinivasan Ravi and the registration is done at Link Intime Private Limited.