Craftsman Automation Limited has announced that its Board of Directors has approved a fundraising plan of up to ₹2,000 crores. The company intends to utilize these funds primarily to repay or pre-pay certain outstanding borrowings. The capital will be raised through the issuance of various eligible securities. To facilitate this process, the company will convene an Extra-Ordinary General Meeting (EGM) on June 13, 2026, to seek necessary shareholder approval.
Strategic Capital Raising Plan
The Board of Directors at Craftsman Automation Limited has officially greenlit a proposal to raise funds amounting to ₹2,000 crores. This capital infusion is intended to strengthen the company’s financial position by optimizing its debt profile, specifically through the repayment or pre-payment of existing outstanding borrowings, either in full or in part.
Issuance Methodology
To achieve this target, the company has secured authorization to explore various funding routes. These include, but are not limited to, the issuance of equity shares, debt instruments, private placements, qualified institutions placements, and rights issues. The Board has also constituted a Fund Raising Committee to oversee the implementation of these financial decisions and determine the timing and tranches of the issuance.
Shareholder Approval and Timeline
The company has scheduled an Extra-Ordinary General Meeting (EGM) to be held on June 13, 2026, via video conference or other audio-visual means. This meeting will be pivotal in obtaining the required shareholder consent for the proposed fundraise. Furthermore, June 6, 2026, has been fixed as the cut-off date for determining the eligibility of shareholders to cast their votes through electronic means.
Source: BSE
