| Basis of Allotment |
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES NOT FOR PUBLICATION AND DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
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| CRAFTSMAN AUTOMATION LIMITED |
Our Company was incorporated as "Craftsman Automation Private Limited" on July 18, 1986 as a private limited company under the Companies Act 1956, pursuant to a certificate of incorporation granted by the Registrar of Companies, Chennai, Tamil Nadu. Pursuant to the conversion of our Company to a public limited company and as approved by the Shareholders pursuant to a resolution dated April 30, 2018, the name of our Company was changed to "Craftsman Automation Limited" and the Registrar of Companies, Coimbatore, Tamil Nadu ("RoC") issued a fresh certificate of incorporation dated May 4, 2018. For further information on changes in name and registered office of our Company, see "History and Certain Corporate Matters" on page 194 of the prospectus dated March 18, 2021 (the "Prospectus").
| Registered and Corporate Office: Senthel Towers, IV Floor, 1078, Avanashi Road Coimbatore 641 018, Tamil Nadu India; |
| Tel: (91 422) 716 5000; Contact Person: Shainshad Aduvanni, Company Secretary and Compliance Officer; Tel: (91422)7165000: |
| E-mail: investor@craftsmanautomation.com: Website: www.craftsmanautomation.com: Corporate Identity Number: U289917Z1986PLC001816. |
| OUR PROMOTER: SRINIVASAN RAVI |
Our Company has filed the Prospectus with the RoC, and the Equity Shares are proposed to be listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and trading is expected to commence on Thursday, March 25, 2021
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 5,528,161 EQUITY SHARES OF FACE VALUE OF RS. 5 EACH (THE "EQUITY SHARES") OF CRAFTSMAN AUTOMATION LIMITED (OUR "COMPANY" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 1,490 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 1,485 PER EQUITY SHARE) (THE "OFFER PRICE") AGGREGATING TO RS. 8,236.96 MILLION (THE "OFFER") COMPRISING A FRESH ISSUE OF 1,006,711 EQUITY SHARES AGGREGATING TO RS. 1,500.00 MILLION BY OUR COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 4,521,450 EQUITY SHARES COMPRISING 130,640 EQUITY SHARES BY SRINIVASAN RAVI (THE "PROMOTER SELLING SHAREHOLDER"), 1,559,260 EQUITY SHARES BY MARINA III (SINGAPORE) PTE LIMITED ("MARINA") AND 1,414,050 EQUITY SHARES BY INTERNATIONAL FINANCE CORPORATION ("IFC") (MARINA. TOGETHER WITH IFC, THE "INVESTOR SELLING SHAREHOLDERS"), AND 1,417,500 EQUITY SHARES BY K. GOMATHESWARAN (THE "INDIVIDUAL SELLING SHAREHOLDER") (THE PROMOTER SELLING SHAREHOLDER, THE INVESTOR SELLING SHAREHOLDERS AND THE INDIVIDUAL SELLING SHAREHOLDER, TOGETHER, THE "SELLING SHAREHOLDERS"AND SUCH EQUITY SHARES OFFERED BY THE SELLING SHAREHOLDERS, THE "OFFERED SHARES") AGGREGATING TO RS. 6,736.96 MILLION (THE "OFFER FOR SALE")
| OFFER PRICE: RS. 1,490 PER EQUITY SHARE OF FACE VALUE OF RS. 5 EACH |
| ANCHOR INVESTOR OFFER PRICE: RS. 1,490 PER EQUITY SHARE |
| THE OFFER PRICE IS 298.00 TIMES THE FACE VALUE |
| Risks to Investors | |
| • | The two Book Running Lead Managers associated with the Offer have handled 24 public issues in the past three years out of which 9 closed below the issue price on listing date. |
| • | The Offer Price is Rs. 1,490 per Equity Share. |
| • | Average Cost of acquisition of Equity Shares by the Selling Shareholders ranges from Rs. 1.06 per Equity Share to Rs. 417.66 per Equity Share. |
| • | Weighted Average Return on Net Worth for Fiscals 2020, 2019 and 2018 is 9.24%. |
| BID/ OFFER PERIOD: |
| OPENED ON: MONDAY, MARCH 15, 2021 CLOSED ON: WEDNESDAY, MARCH 17, 2021 |
| ANCHOR INVESTOR BIDDING DATE WAS : FRIDAY, MARCH 12, 2021 |
This Offer was made m terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") read with Regulation 31 of the SEBIICDR Regulations. The Offer was made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer was allocated on a proportionate basis to Qualified Institutional Buyers (the "QIBs") (the "QIB Category"), of which our Company and the Investor Selling Shareholders in consultation with the BRLMs. allocated up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the "Anchor Investor Portion") One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (the "Anchor Investor Allocation Price") Post allocation to the Anchor Investors, the QIB Category was reduced by such number of Equity Shares. 5% of the QIB Category (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category was made available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. Further, not less than 15% of the Offer was made available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer was made available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders, other than the Anchor Investors, were mandatory required to participate in this Offer only through Application Supported by Blocked Amount ("ASBA") process, providing details of their respective bank accounts (including UPI ID for Retail Individual Investors using UPI Mechanism) in which the Bid amount was blocked by the SCSBs or the Sponsor Bank. The Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For further information, see "Offer Procedure" on page 350 of the Prospectus.
The bidding for Anchor Investor opened and closed on March 12, 2021. The Company received 21 applications from 15 anchor investors for 1,825,520 equity shares. The Anchor investor price was finalized at Rs. 1490 per Equity Share. A total of 1,658,447 shares were allocated under the Anchor Investor Portion aggregating to Rs. 2,471,086,030. The Offer received 433,201 applications for 14,770,210 Equity Shares (prior to technical rejections) resulting in 2.6718 times subscription. The details of the applications received in the Offer from various categories are as under: (before technical rejections):
| Sr.No | Category | No. of Applications | No. of Equity Shares Applied | Equity Shares Reserved as per Prospectus | No. of times Subscribed | Amount (Rs.) |
| A. | Anchor Investors | 21 | 1,825,520 | 1,658,447 | 1.1007 | 2,720,024,800 |
| B. | Qualified institutional Buyers (excluding Anchor Investors) | 20 | 5,624,820 | 1,105,632 | 5.0874 | 8,380,981,800 |
| C. | Non Institutional Investors | 678 | 1,891,580 | 829225 | 2.2811 | 2,818,451,940 |
| D. | Retail Individual Investors | 432,482 | 5,428,290 | 1,934,857 | 2.8055 | 8,091,607,420 |
| Total | 433,201 | 14,770,210 | 5,528,161 | 2.6718 | 22,011,065,960,00 |
Final Demand
A summary of the final demand as at different Bid prices is as under;
| SI.No. | Bid Price | No. Of Equity Shares | % to Total | Cumulative Total | Cumulative % of Total |
| 1 | 1488 | 48,630 | 0.33 | 48,630 | 0.33 |
| 2. | 1489 | 31,660 | 0.21 | 80,290 | 0.54 |
| 3 | 1490 | 9,633,510 | 64.74 | 9,713,800 | 65.28 |
| 4 | Cut-Off | 5,166,050 | 34.72 | 14,879,850 | 100.00 |
| TOTAL | 14,879,850 | 100.00 |
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on March 22, 2021.
A. Allotment to Retail Individual Bidders (after technical rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs. 1490 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 2.7277 times. The total number of Equity Shares Allotted in Retail Portion is 1,934,857 Equity Shares to 193,485 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under.
| Category | No. of Applications Received | %of Total | Total No. of Equity Shares Applied | % to Total | No. of Equity Shares Allotted per Bidder | Ratio | Total No. of Equity Shares Allotted |
| 10 | 384,977 | 91.47 | 3,849,770 | 72.94 | 10 | 217:472 | 1,769,910 |
| 20 | 19,582 | 4.65 | 391,640 | 7.42 | 10 | 40:87 | 90,030 |
| 30 | 5,598 | 1.33 | 167,940 | 3.18 | 10 | 40:87 | 25,730 |
| 40 | 1,865 | 0.44 | 74,600 | 1.41 | 10 | 40:87 | 8,570 |
| 50 | 2,453 | 0.58 | 122,650 | 2.32 | 10 | 40:87 | 11,280 |
| 60 | 789 | 0.19 | 47,340 | 0.90 | 10 | 40:87 | 3,630 |
| 70 | 708 | 0.17 | 49,560 | 0.94 | 10 | 40:87 | 3,250 |
| 80 | 243 | 0.06 | 19,440 | 0.37 | 10 | 40:87 | 1,120 |
| 90 | 165 | 0.04 | 14,850 | 0.28 | 10 | 40:87 | 760 |
| 100 | 1,253 | 0.30 | 125,300 | 2.37 | 10 | 40:87 | 5,760 |
| 110 | 121 | 3.03 | 13,310 | 0.25 | 10 | 40:87 | 560 |
| 120 | 197 | 0.05 | 23,640 | 0.45 | 10 | 40:87 | 900 |
| 130 | 2,905 | 0.69 | 377,650 | 7.16 | 10 | 40:87 | 13,350 |
| 16494 Allottees from Serial No, 2 to 13 Additional (one) share | 7:16494 | 7 | |||||
| TOTAL | 420,856 | 100.00 | 5,277,690 | 100.00 | 1,934,857 | ||
B. Allotment to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Price of Rs. 1,490 per Equity Share was finalized in consultation with BSE. The Non-Institutional Portion has been subscribed to the extent of 2.2731 times. The total number of Equity Shares Allotted in this category is 829,225 Equity Shares to 656 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment are as under (Sample):
| Category | No. of Applications Received | %of Total | Total No. of Equity Shares Applied | % to Total | No. of Equity Shares Allotted per Bidder | Ratio | Total No. of Equity Shares Allotted |
| 140 | 206 | 31.40 | 28,840 | 1.53 | 61 | 1:1 | 12,566 |
| 140 | 0.00 | 0.00 | 1 | 50:103 | 100 | ||
| 150 | 43 | 6.55 | 6,450 | 0.34 | 66 | 1:1 | 2,838 |
| 160 | 15 | 2.29 | 2,400 | 0.13 | 70 | 1:1 | 1,050 |
| 170 | 14 | 2.13 | 2,380 | 0.13 | 75 | 1:1 | 1,050 |
| 180 | 4 | 0.61 | 720 | 0.04 | 79 | 1:1 | 316 |
| 190 | 3 | 0.46 | 570 | 0.03 | 84 | 1:1 | 252 |
| 200 | 49 | 7.47 | 9,800 | 0.52 | 88 | 1:1 | 4,312 |
| 210 | 8 | 1.22 | 1,680 | 0.09 | 92 | 1:1 | 736 |
| 220 | 5 | 0.76 | 1,100 | 0.06 | 97 | 1:1 | 485 |
| 280 | 4 | 0.61 | 1,120 | 0.06 | 123 | 1:1 | 492 |
| 290 | 1 | 0.15 | 290 | 0.02 | 128 | 1:1 | 128 |
| 430 | 1 | 0.15 | 430 | 0.02 | 189 | 1:1 | 189 |
| 750 | 1 | 0.15 | 750 | 0.04 | 330 | 1:1 | 330 |
| 780 | 1 | 0.15 | 780 | 0.04 | 343 | 1:1 | 343 |
| 790 | 1 | 0.15 | 790 | 0.04 | 348 | 1:1 | 348 |
| 800 | 2 | 0.30 | 1,600 | 0.08 | 352 | 1:1 | 704 |
| 810 | 1 | 0.15 | 810 | 0.04 | 356 | 1:1 | 356 |
| 850 | 1 | 0.15 | 850 | 0.05 | 374 | 1:1 | 374 |
| 900 | 2 | 0.30 | 1,800 | 0.10 | 396 | 1:1 | 792 |
| 950 | 1 | 0.15 | 950 | 0.05 | 418 | 1:1 | 418 |
| 980 | 1 | 0.15 | 980 | 0.05 | 431 | 1:1 | 431 |
| 1,000 | 27 | 4.12 | 27,000 | 1.43 | 440 | 1:1 | 11880 |
| 2,050 | 1 | 0.15 | 2,050 | 0.11 | 902 | 1:1 | 902 |
| 2,100 | 1 | 0.15 | 2,100 | 0.11 | 924 | 1:1 | 924 |
| 2,350 | 1 | 0.15 | 2,350 | 0.12 | 1.034 | 1:1 | 1,034 |
| 2,610 | 1 | 0.15 | 2,610 | 0.14 | 1,148 | 1:1 | 1,148 |
| 3,000 | 2 | 0.30 | 6,000 | 0.32 | 1.320 | 1:1 | 2640 |
| 3,020 | 1 | 0.15 | 3,020 | 0.16 | 1,329 | 1:1 | 1,329 |
| 3,350 | 10 | 1.52 | 33,500 | 1.78 | 1,474 | 1:1 | 14,740 |
| 3,420 | 1 | 0.15 | 3,420 | 0.18 | 1,505 | 1:1 | 1,505 |
| 3,500 | 2 | 0.30 | 7,000 | 0.37 | 1,540 | 1:1 | 3,080 |
| 4,000 | 2 | 0.30 | 8,000 | 0.42 | 1,760 | 1:1 | 3,520 |
| 4,020 | 2 | 0.30 | 8,040 | 0.43 | 1,769 | 1:1 | 3,538 |
| 6,700 | 1 | 0.15 | 6,700 | 0.36 | 2,947 | 1:1 | 2,947 |
| 6,710 | 3 | 0.46 | 20,130 | 1.07 | 2,952 | 1:1 | 8856 |
| 6,720 | 2 | 0.30 | 13,440 | 0.71 | 2,957 | 1:1 | 5,914 |
| 9,000 | 1 | 0.15 | 9,000 | 0.48 | 3,959 | 1:1 | 3,959 |
| 9,300 | 1 | 0.15 | 9,300 | 0.49 | 4,091 | 1:1 | 4,091 |
| 9,390 | 1 | 0.15 | 9,390 | 0.50 | 4,131 | 1:1 | 4,131 |
| 9,850 | 1 | 0.15 | 9,850 | 0.52 | 4,333 | 1:1 | 4,333 |
| 10,000 | 3 | 0.46 | 30,000 | 1.59 | 4,399 | 1:1 | 13,197 |
| 24,000 | 1 | 0.15 | 24,000 | 1.27 | 10,558 | 1:1 | 10,558 |
| 26 850 | 1 | 0.15 | 26,850 | 1.42 | 11,812 | 1:1 | 11,812 |
| 27,000 | 1 | 0.15 | 27,000 | 1.43 | 11,878 | 1:1 | 11,878 |
| 30,200 | 1 | 0.15 | 30,200 | 1.60 | 13,286 | 1:1 | 13,286 |
| 31,000 | 1 | 0.15 | 31,000 | 1.64 | 13,637 | 1:1 | 13,637 |
| 33,550 | 5 | 0.76 | 167,750 | 8.90 | 14,759 | 1:1 | 73,795 |
| 35,000 | 1 | 0.15 | 35,000 | 1.86 | 15,397 | 1:1 | 15397 |
| 80,530 | 1 | 0.15 | 80,530 | 4.27 | 35,427 | 1:1 | 35,427 |
| 100,000 | 1 | 0.15 | 100,000 | 5.31 | 43,992 | 1:1 | 43,992 |
| 107,400 | 1 | 0.15 | 107,400 | 5.70 | 47,247 | 1:1 | 47,247 |
| 134,220 | 1 | 0.15 | 134,220 | 7.12 | 59,046 | 1:1 | 59,046 |
| 140,930 | 1 | 0.15 | 140,930 | 7.48 | 61,998 | 1:1 | 61998 |
| 167,780 | 1 | 0.15 | 167,780 | 8.90 | 73,810 | 1:1 | 73,810 |
| 167,800 | 1 | 0.15 | 167,800 | 8.90 | 73,818 | 1:1 | 73,818 |
C. Allotment to QIBs
Allotment to QIBs, who have Bid at the Offer Price of Rs.1490 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 5.0874 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 55,282 Equity Shares and other QIBs including of Mutual Funds were Allotted the remaining available Equity Shares i.e. 1,050,350 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 1,105,632 Equity Shares, which were allotted to 20 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:
| Category | FIs/Banks | MFs | ICs | NBFC's | AIF | FII/FPC | Others | Total |
| ALLOTMENT | 107,583 | 207,795 | 326,545 | 44,318 | 1,999 | 417,392 | - | 1,105,632 |
D. Allotment to Anchor Investors
The Company and the Setting Shareholders, in consultation with the BRLMs, have allocated 1,658,447 Equity Shares to 15 Anchor Investors (through 21 Applications) at the Anchor Investor Offer Price of Rs. 1490 per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.
| Category | FIs/Banks | MFs | ICs | NBFC's | AIF | FII/FPC | Others | Total |
| ALLOTMENT | - | 604,302 | 94,146 | - | 510,159 | 449,838 | 1,658,447 |
The IPO Committee of our Company on March 22, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice will be emailed or dispatched to the email ID or address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds transfer to Public Offer Account have been issued on March 22, 2021 and payment to non-Syndicate brokers have been issued on March 23, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on March 23, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on March 23, 2021. The Company has received listing and trading approval from BSE and NSE and the trading is expected to commence on March 25, 2021.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.
INVESTORS PLEASE NOTE
The details of the allotment made have been hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in.
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder. Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:
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| Link Intime India Private Limited |
| C-101, 1st Floor, 247 Park, |
| L B S Marg, Vikhroli West, |
| Mumbai -400 083, Maharashtra, India |
| Tel: (9122)49186200 |
| E-mail: craftsman.ipo@linkmtime.co.in |
| Investor grievance E-mail: craftsman.ipo@linkintime.co.in |
| Website: www.linkintime.co.in |
| Contact Person: Shanti Gopalkrishnan |
| SEBI Registration No: INR000004058 |
| For Craftsman Automation Limited | |
| On behalf of the Board of Directors | |
| Race: Coimbatore | Sd/- |
| Date: March 24, 2021 | Company Secretary and Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF CRAFTSMAN AUTOMATION LIMITED
Craftsman Automation Limited has filed the Prospectus with the RoC on March 18, 2021 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the websites of SEBI at www.sebi.gov.in, and is available on the websites of the BRLMs i.e. Axis Capital Limited and IIFL Securities Limited at www.axiscapital.com and www.iiflcap.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" on page 22 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S Securities Act of 1933, as amended ("securities Act") or any state securities laws in the United States and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any and applicable U.S. state securities laws. The Equity Shares Were being offered and sold outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the United States
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