Shardul Amarchand Mangaldas & Co. advises Craftsman Automation Limited in relation to their initial public offering of equity shares aggregating to USD 113.39 million

March 26, 2021

Shardul Amarchand Mangaldas & Co. advised Craftsman Automation Limited on their initial public offering of equity shares. The deal is valued at USD 113.39 million. The trading on the stock exchanges commenced on 25 March 2021.

Craftsman Automation Limited is the largest player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium, and heavy commercial vehicles segment and in the construction equipment industry in India. The Issue was oversubscribed 3.81 times.

The transaction team was led by Monal Mukherjee, Partner; Sagarnil Banerjee, Principal Associate; Aditya Iyer, Associate; Romit Srivastava, Associate; and Sejal Jain – Associate, with strategic inputs from Prashant Gupta, Partner, and National Practice Head – Capital Markets.

J. Sagar Associates advised Axis Capital Limited and IIFL Securities Limited on Indian legal aspect. AZB & Partners advised Marina III (Singapore) Pte Limited and International Finance Corporation. Squire Patton Boggs (MEA) LLP advised Axis Capital Limited and IIFL Securities Limited on International legal aspect.