Craftsman Automation Limited which had tapped the capital markets with its fresh issue of Rs 150 crs and an offer for sale of 45,21,450 equity shares saw its share list and lose 3.83% on day one. The issue was subscribed 3.82 times. The issue had opened on Monday the 15th of March and closed on Wednesday the 17th of March. The price band was Rs 1,488-1,490.
QIB portion was subscribed 5.21 times, HNI portion was subscribed 2.84 times and Retail portion was subscribed 3.44 times. There were 5.41 lac applications and based on lots, Retail portion was subscribed 2.80 times.
Earlier the company had allotted 16,58,447 equity shares at the top end of the band of Rs 1,490 to 15 anchor investors comprising of 21 entities.
The highest allocation was made to Pioneer Investment Fund who was allotted 3,69,120 equity shares or 22.3% of the anchor allocation. This was followed by Nomura who was allotted 2,34,890 equity shares or 14.2% of the anchor book. This was followed by three anchor investors being given an identical 9.3% or 1,54,360 equity shares. These investors were Nippon Mutual Fund, Aditya Birla Sun Life and ICICI Prudential.
The discovered price was Rs 1,350 on BSE and Rs 1,359 on NSE. The traded volume at the discovered price was 6,542 shares on BSE and 1,41,853 shares on NSE. The high of the day on BSE was Rs 1,489, low was Rs 1349.20 and the close was Rs 1,433, a loss of Rs 57 or 3.83%. On NSE, the high was Rs 1,490, the low was Rs 1,350 and the close was Rs 1,435.60, a loss of Rs 54.40 or 3.65%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 1350.00 | 1489.00 | 1349.20 | 1433.00 | -57.00 | -3.83 | 1433.60 | 174695 | 55209 | 31.60 |
| NSE | 1359.00 | 1490.00 | 1350.00 | 1435.60 | -54.40 | -3.65 | 1437.59 | 3479695 | 1462285 | 42.02 |
| Total | 3654390 | 1517494 | 41.53 |
The traded volume on the two exchanges combined was 36.54 lac shares. This was 0.66 times the IPO size of 55.28 lac shares. It was 0.94% of the non-anchor portion of 38.69 lac shares. Delivery volume was 15.17 lac shares which was 41.53% of traded volume. It was 27.45% of the IPO size and 39.21% of the non-anchor portion. Delivery volume was certainly on a lower side and this could be attributed to the fact that the listing was marginally lower, and people believe that going forward the share could recover.
The weighted average of the day’s trade was Rs 1,433.60 on BSE and Rs 1,437.59 on NSE. The weighted averages were quite close to the actual closing price, signifying that the share traded in a small range barring the time when it hit a low.
There was one institutional trade on the sell side where Integrated Core Strategies Asia PTE Limited sold 3.09 lac shares at Rs 1,428.35 on NSE.
In conclusion, the share traded with a small negative bias losing just under 4% on day one. Delivery volumes are poor indicating that people are waiting to see the price stabilise before taking a call. With no leveraged funds being used to apply for the issue, the share would not be under pressure even though the share trades lower.
