Craftsman Automation Limited Approves Fund Raise Up To Rs 2000 Crores to Repay Borrowings
Craftsman Automation Limited announced key decisions following the Board of Directors meeting held on Saturday, May 16, 2026. The board approved a major plan to raise capital through the issuance of various eligible securities, with the funds primarily earmarked for repaying outstanding company borrowings.The Board approved the raising of funds, in one or more tranches, by issuing equity shares and other eligible securities. The proposed fundraising initiative is permitted through methods including, but not limited to, further public offer, debt instruments, preferential allotment, rights issue, private placement, and qualified institutions placement.
The board has approved a total fundraising capacity not exceeding Rs 2000 Crores. The proceeds generated from this proposed fundraise are intended for the repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company. The company's Board has authorized the Fund Raising Committee to execute all necessary decisions related to this initiative.
To seek necessary shareholder approval for this funding measure, the company announced plans to convene an Extra-Ordinary General Meeting (EGM) on Saturday, June 13, 2026. The meeting is scheduled to be conducted through Video Conference (VC) or Other Audio Visual Means (OAVM).
The company also established a cut-off date for determining the eligibility of equity shareholders entitled to vote through electronic means at the EGM, fixing this date as June 6, 2026.
Key details concerning the approved corporate actions include:
| Action | Detail | Date/Amount |
|---|---|---|
| Fundraise Capacity | Maximum total amount to be raised | Not exceeding Rs 2000 Crores |
| Primary Use of Funds | Repayment/Pre-payment of outstanding borrowings | N/A |
| EGM Date | Extraordinary General Meeting | June 13, 2026 |
| Voting Cut-off Date | For EGM eligibility | June 6, 2026 |
| Board Meeting Date | Decision Approval Date | May 16, 2026 |
CRAFTSMAN Stock Price Movement
On Friday, Craftsman Automation Limited shares slipped by 1.23%, settling at ₹8462.5. The stock concluded its session on solid volume, with a total of 70,403 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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