Shares of Craftsman Automation will be in focus heading into trade on Tuesday as promoter Srinivasan Ravi is set to pare his stake in the company through a block deal worth up to Rs 486 crore, including a greenshoe option, according to sources cited by ET Now. The transaction involves the sale of as many as 5.25 lakh shares, representing up to 2.01% of the company's equity.
The floor price for the deal has been set at Rs 9,250 per share, which is at a discount of up to 2.9% to Craftsman Automation's closing price on the NSE on June 22. The share sale is purely a secondary transaction, meaning the company itself will not receive any proceeds.
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The proposed deal consists of a base offer size of Rs 375 crore, along with a greenshoe option valued at around Rs 111 crore. Following the transaction, Srinivasan Ravi will be subject to a lock-up period of 180 days.
Sources told ET Now that the block deal is expected to be executed on June 23, with settlement scheduled for June 24 under the T+1 mechanism. The stake sale comes after a sharp re-rating in the stock and is seen as a move to partly monetise holdings while improving liquidity.
The proposed transaction follows closely on the heels of the company's recently concluded Qualified Institutional Placement (QIP), through which Craftsman Automation raised nearly Rs 2,000 crore from institutional investors.
As part of the QIP, the company allotted 22.98 lakh equity shares to eligible Qualified Institutional Buyers at an issue price of Rs 8,700 per share. The fundraising exercise generated approximately Rs 2,000 crore.
After the allotment, Craftsman Automation's paid-up equity share capital rose to Rs 13.08 crore, comprising 2.62 crore equity shares of face value Rs 5 each. Before the issue, the paid-up equity capital stood at Rs 11.93 crore, consisting of 2.39 crore equity shares.
The QIP opened on June 15 and closed on June 18. As per the company's March-quarter shareholding pattern, promoters held a 48.70% stake in Craftsman Automation.
Craftsman Auto Q4
The company’s net profit for the quarter surged 74.4% year-on-year to Rs 116.4 crore from Rs 66.8 crore in the corresponding period last year, aided by improved operating performance, higher other income and a lower exceptional item charge. The base quarter had an exceptional item of Rs 10 crore, compared with just Rs 54 lakh in the latest quarter.
Revenue rose 27.3% from a year ago to Rs 2,226 crore. EBITDA increased 47.2% year-on-year to Rs 358.5 crore from Rs 243.6 crore, while EBITDA margin expanded by over 200 basis points to 16.1% from 13.9% in the year-ago period.
Craftsman Auto shares have risen 24% in 2026 and about 85% in the last one year.
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