Investors are keeping a close watch on Craftsman Automation as promoter Srinivasan Ravi prepares to sell a significant portion of his holdings. The planned divestment covers 2.01% of the company's equity, with the transaction valued at approximately Rs 486 crore.
The secondary sale features a floor price set at Rs 9,250 per share. This move follows closely on the heels of the company's successful Rs 2,000 crore Qualified Institutional Placement (QIP), signaling a period of major capital movement for the automotive engineering firm.
Ravi has committed to a 180-day lock-up period following this sale, providing a degree of stability for shareholders. The divestment is framed as an effort to monetize existing assets and increase the stock's overall trading liquidity.
The market reaction remains measured, bolstered by the company's robust financial trajectory. Craftsman Automation recently impressed stakeholders by posting a staggering 74.4% jump in profits during the final quarter, underscoring the underlying strength of its business operations.
