New Delhi, Mar 17 (PTI) The initial public offer of auto component maker Craftsman Automation was subscribed 3.81 times on the last day of bidding on Wednesday.

The Rs 824-crore offer attracted bids for 1,47,58,160 shares as compared to 38,69,714 shares on offer, according to an update on NSE.

The category for qualified institutional buyers (QIBs) was subscribed 5.21 times, non institutional investors 2.84 times and retail individual investors (RIIs) 3.43 times.

The initial public offer (IPO) comprised a fresh issue of Rs 150 crore and an offer for sale of 45,21,450 equity shares.

It was in a price range of Rs 1,488-1,490 per share.

Craftsman Automation had raised a little over Rs 247 crore from anchor investors on Friday.

Net proceeds of the issue will be utilised for repayment or pre-payment of certain borrowings availed of by the company and for general corporate purposes.

Axis Capital Limited and IIFL Securities Limited were the managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)