Craftsman Automation files IPO papers with Sebi, to raise Rs 400 cr

NEW DELHI: Auto component maker Craftsman Automation has filed draft papers with markets regulator Sebi for its initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer for sale of up to 43,83,320 shares of Craftsman Automation by promoters. The promoters offloading the stakes include Srinivasan Ravi, Marina III (Singapore), IFC and K Gomatheswaran.