Craftsman Automation added 1.17% to Rs 4,832.05 after its board approved issue equity shares for an amount aggregating up to Rs 1.2 lakh by way of qualified institutions placement (QIP) with a floor price of Rs 4,426.11 per share.
The company's board authorized and declared the opening of the issue on Tuesday, 18 June 2024.The floor price is Rs 4,426.11 per equity share is at a discount of 7.33% to the previous day's closing price of Rs 4,426.11 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
The firm has also informed that a meeting of the committee is scheduled to be held on Friday, 21 June 2024 to consider and approve the issue price of the equity shares.
Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotivealuminum products, and industrial and engineering.
Craftsman Automation reported that its consolidated net profit declined 12.09% to Rs 70.53 crore despite of 12.74% increase in revenue from operations to Rs 1,105.34 crore in Q4 FY24 over Q4 FY23.
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