Unlisted shares of Jyoti CNC Automation Limited continue to trade Rs 48 higher in the grey market, a 14.5 per cent listing gain from the public issue
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Jyoti CNC Automation IPO: The initial public offering of Jyoti CNC Automation Limited, which was closed on Thursday, has received an overwhelming response from investors with an overall 38.53 times subscription. The share allotment will take place today, Friday, and the investors will start receiving bank debit messages in the evening.
On the final day of bidding on Thursday, the Rs 1,000-crore IPO received 38.53 times subscription, garnering bids for 67,58,09,325 shares as against 1,75,39,681 shares on offer.
The category for Qualified Institutional Buyers (QIBs) received 44.13 times subscription while the quota for non-institutional investors got subscribed 36.48 times. The portion for Retail Individual Investors (RIIs) fetched 26.17 times subscription. Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors.
The IPO was opened for public subscription on Tuesday, January 9, and it was fully subscribed within hours of its opening on Tuesday. The price band of the IPO was fixed at Rs 315-331 per share.
The IPO listing will take place on January 16 on both BSE and NSE.
Jyoti CNC Automation IPO: Step-By-Step Guide To Check Allotment Status
Here’s how you can check Jyoti CNC Automation IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Jyoti CNC Automation Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check Jyoti CNC Automation IPO allotment status.
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Jyoti CNC Automation IPO GMP Today
According to market observers, unlisted shares of Jyoti CNC Automation Limited continue to trade Rs 48 higher in the grey market as compared with its issue price. The Rs 48 grey market premium or GMP means the grey market is expecting a 14.5 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Jyoti CNC Automation IPO Details
The Initial Public Offer (IPO) was entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The public issue had a price band of Rs 315-331 per share.
Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is a manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, Uniparts India, Tata Advanced System, Tata Sikorsky Aerospace, Bharat Forge, Kalyani Technoforge, and Bosch Ltd.
Equirus Capital, ICICI Securities and SBI Capital Markets were the book-running lead managers to the issue. Equity shares of the company will be listed on BSE and NSE.
The minimum lot size for an application is 45 shares. The minimum amount of investment required by retail investors is Rs 14,895.
Jyoti CNC Automation IPO is a Rs 1,000-crore offer, comprising entirely a fresh issue of 3.02 crore shares.
Equirus Capital Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jyoti CNC Automation IPO, while Link Intime India Private Ltd is the registrar for the issue.
Jyoti CNC Automation Limited, which was incorporated in January 1991, is a manufacturer and supplier of CNC machines. The company is based in India and specializes in manufacturing and supplying CNC machines.
The product range includes CNC turning centres, CNC turning-milling centres, CNC vertical machining centres (VMCs), CNC horizontal machining centres (HMCs), simultaneous 3-axis CNC machining centres, simultaneous 5-axis CNC machining centres and multi-tasking machines.
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Jyoti CNC Automation Limited reported a net profit of Rs 15.06 crore with a revenue of Rs 952.60 crore in FY23 against a loss of Rs 29.68 crore in FY22. EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 34 per cent on-year to Rs 97.4 crore with a margin expansion of 74 bps at 10.47 per cent for FY23.
