Jyoti CNC Automation Limited is set to launch its initial public offering (IPO) on January 9, 2024, and the IPO will close on January 11, 2024.
The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), and the price band for the IPO has been fixed at Rs 315-331 per share.
The IPO issue size is around Rs 1000 crore. The issue is entirely a fresh issue of 3.02 crore shares. The company will utilize the IPO proceeds for funding long-term working capital requirements and general corporate purposes.
The company will list on BSE and NSE with a tentative listing date fixed on Tuesday, January 16, 2024.
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 IPO has made its debut in the grey market as well. As per the stock market observers, shares of Jyoti CNC Automation Ltd are available at a premium of ₹82 in the grey market today.
The bidder will be able to apply in lots and one lot of the book build offer comprises 45 company shares.
Jyoti CNC Automation is a metal-cutting CNC (computer numerical control) machine manufacturer. It was founded in 1991 and holds the third-largest market share in India as of fiscal 2023.
The customer base includes ISRO, BrahMos Aerospace, Turkish Aerospace, Uniparts India, Tata Advances System, Tata Sikorsky Aerospace, Bharat Forge, Shakti Pumps, Shreeram Aerospace & Defense, Rolex Rings, Harsha Engineers, Bosch Limited, HAWE Hydraulics, Festo India, Elgi Rubber, National Fittings and others.
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