Block deal alert! Craftsman Auto shares in focus as promoter to sell stake worth Rs 486 crore

Promoter Srinivasan Ravi plans to sell a stake worth Rs 486 crore in Craftsman Automation via a block deal on June 23, at a floor price of Rs 9,250 per share (a 2.9% discount to the June 22 close). The transaction comprises a base offer of Rs 375 crore and a greenshoe option of around Rs 111 crore, with a 180-day lock-up post-deal. The move follows the company’s recent Qualified Institutional Placement of nearly Rs 2,000 crore at Rs 8,700 per share, and comes after sharp Q4 results showing net profit up 74.4% year-on-year to Rs 116.4 crore and revenue up 27.3% to Rs 2,226 crore.