Coimbatore-based Craftsman Automation Ltd, manufacturer of aluminium casting products & powertrain components in the automotive & industrial engineering sectors, has raised about ₹2,000 crore through a Qualified Institutional Placement (QIP), with the company allotting 22.99 lakh equity shares to institutional investors at ₹8,700 per share, the company told stock exchanges. The face value of each share is ₹5.

The company’s fund raising committee on Thursday approved the allotment of 22,98,850 equity shares to eligible Qualified Institutional Buyers (QIBs) at an issue price of ₹8,700 per share, that includes a discount of 2.97 per cent to the floor price. The issue mobilised ₹2,000 crore, the announcement said.

The QIP, which opened on June 15 and closed on June 18, witnessed participation from a range of domestic mutual funds and insurance companies.

Among the investors, HDFC Flexi Cap Fund emerged as the largest allottee, receiving 3,79,310 shares, accounting for 16.5 per cent of the total issue size. SBI Multicap Fund was allotted 1,37,931 shares, representing 6 per cent of the issue, while HDFC Life Insurance Company and SBI Life Insurance Company each received 1,14,942 shares, equivalent to 5 per cent of the issue size.

Other notable investors included funds managed by Aditya Birla Sun Life Mutual Fund, Invesco Mutual Fund, Axis Mutual Fund and Tata AIA Life Insurance, the company said.

Following the allotment, Craftsman Automation’s paid-up equity share capital increased from ₹11.93 crore, comprising 2.39 crore equity shares, to ₹13.08 crore, comprising 2.62 crore equity shares

Published on June 19, 2026