Jyoti CNC Automation IPO Opens Today: Key Things You Want To Know

New Delhi: The initial public offering (IPO) of Jyoti CNC Automation will open for subscription on Tuesday, January 9. The IPO of the Gujarat-based compamy comprises fresh issuance of equity shares worth up to Rs 1,000 crore. The initial share-sale offer will be the first public issue of 2024 on BSE and NSE.

Here are key points to know about Jyoti CNC Automation IPO

- The IPO has a price band of Rs 315-331 per share and is open for public subscription from January 9 to January 11.

- Jyoti CNC Automation raised Rs 448 crore from anchor investors ahead of its IPO on January 8.

- 1.35 crore equity shares were allotted to 37 funds at Rs 331 apiece, the upper end of the price band.

- The total amount garnered at this price is Rs 447.75 crore.

- Anchor investors included Goldman Sachs, Nomura, Neuberger Berman, HDFC Life, ICICI Prudential MF, and others.

- Proceeds from the issue will be used for debt payment, working capital, and general corporate purposes.

- Jyoti CNC Automation is a leading CNC machines manufacturer with customers like ISRO and Tata Advanced System.

- As of September 2023, the company had an order book of Rs 3,315.33 crore.

- Equirus Capital, ICICI Securities, and SBI Capital Markets are the book-running lead managers.

- Equity shares will be listed on both BSE and NSE.