Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015, relating to raising of funds
CRAFTSMAN · price
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Craftsman Automation's board has approved raising funds of up to Rs. 2,000 crore through various means including equity shares, debt, preferential allotment, rights issue, ADR/GDR, private placement, or QIP. The proceeds will primarily be used to repay or pre-pay outstanding company borrowings. An EGM is scheduled for June 13, 2026, with a cutoff date of June 6, 2026, to seek shareholder approval via postal ballot. The specific mode, pricing, and timing of the fund raise will be decided later by the board or its Fund Raising Committee.
The large Rs. 2,000 crore fund raise signals potential equity dilution, but the focus on debt repayment should improve the company's balance sheet and reduce interest costs, which could be positive for long-term financials.