A promoter shareholder of Craftsman Automation Ltd has successfully completed the sale of a 2.01% stake to nine institutional investors through open market transactions on June 23. According to latest reports from CNBC TV18, promoter shareholder Srinivasan Ravi sold 5.3 lakh shares representing 2% of paid-up equity for ₹486 crore at a price of ₹9,250 per share. The transaction involved participation from HDFC Mutual Fund, Invesco Mutual Fund, Abu Dhabi Investments, Axis Mutual Fund and Tata AIA Life Insurance, with HDFC Mutual Fund acquiring 1.84 lakh shares worth ₹170 crore, Invesco Mutual Fund purchasing 1.01 lakh shares valued at ₹100 crore, and Abu Dhabi Investments buying 57,000 shares worth ₹53 crore. The remaining investors included Axis Mutual Fund and Tata AIA Life Insurance, each purchasing shares worth ₹28 crore.
The block deal follows the successful completion of Craftsman Automation's Qualified Institutions Placement (QIP) which raised approximately ₹2,000 crore from institutional investors. As reported by The Economic Times, the company had approved the allotment of 22.98 lakh equity shares to eligible Qualified Institutional Buyers (QIBs) at an issue price of ₹8,700 per share. Following the allotment, the company's paid-up equity share capital increased to ₹13.08 crore, comprising 2.62 crore equity shares of face value ₹5 each, compared to ₹11.93 crore comprising 2.39 crore equity shares prior to the issue. The QIP opened on June 15 and closed on June 18.
The company delivered robust financial results for the quarter, with revenue increasing by 27.3% year-on-year to ₹2,226 crore. According to the company's announcement, EBITDA grew by 47.2% year-on-year to ₹358.5 crore from ₹243.6 crore. The EBITDA margin expanded by over 200 basis points to 16.1% from 13.9% in the previous year, while net profit surged by 74.4% year-on-year to ₹116.4 crore from ₹66.8 crore during the year-ago period. The base quarter had an exceptional item of ₹10 crore, which was significantly reduced to ₹54 lakh this time around, while profitability was also aided by a jump in the other income component from last year.
The promoter stake sale comes amid a strong re-rating in the stock and is likely aimed at partial monetisation and enhancing liquidity, according to The Economic Times sources. Srinivasan Ravi held 40.15% stake in the company as of March 2026, representing the total promoters' shareholding of 44.42%. The transaction is expected to be executed on June 23, with settlement scheduled for June 24 (T+1). Despite the strong financial performance, shares of Craftsman Automation Ltd were under pressure, ending at ₹9,446.55, down by ₹87.60, or 0.92% on the BSE, as reported by CNBC TV18. Based on the March quarter shareholding pattern, promoters of Craftsman Automation had a 48.70% stake in the company.
