Craftsman Automation Limited has successfully secured ₹2,000 crore (approximately $211 million) through a Qualified Institutions Placement (QIP) involving the issuance of 22,98,850 equity shares. This significant financial transaction was backed by leading legal advisors, ensuring its seamless execution.
Legal Advisors and Their Roles
Shardul Amarchand Mangaldas & Co provided legal counsel to Craftsman Automation for this QIP. The advisory team was spearheaded by partners Nikhil Naredi and Devi Prasad Patel. Their expertise was further bolstered by the contributions of Harsh Loonker, Principal Associate, Veronica Miranda, Senior Associate, along with Associates Najeeb Din and Richa Singh.
Meanwhile, JSA Advocates & Solicitors represented Axis Capital Limited, the sole placement agent and Book Running Lead Manager for the QIP. Partner Arka Mookerjee led JSA’s participation in the transaction, with support from partners Siddhartha Desai and Ananth Balaji, as well as Associates Aditya Shendye, Aditya Sureka, Ishika Jain, and Sourav Jena.
On the international front, Hogan Lovells acted as counsel for Axis Capital. This aspect of the transaction was guided by Biswajit Chatterjee, who serves as the Head of the India Practice and Dubai Office Managing Partner, with support from Counsel Varun Jetly and Senior Associate Aditya Rajput.
About Craftsman Automation
Founded in 1986 and based in Tamil Nadu, Craftsman Automation is renowned for its production of premium automotive components, tool rooms, mould bases, storage systems, gears, and special-purpose machinery. The company’s operational ethos focuses on quality and innovation, making it a key player in the automotive components industry.
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This strategic QIP will further bolster Craftsman Automation’s financial strength, enabling it to expand its operational capabilities and market reach.
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