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Jyoti CNC Automation IPO Opens Today: Grey Market Buzzes, Here’s What You Need to Know

Jyoti CNC Automation, a leading manufacturer and supplier of CNC machines, is making its debut on the stock market with its IPO opening today, January 9th. This marks the first mainboard IPO of 2024, signaling the resumption of the IPO season. Here’s a summary of the key details and 10 things to know about Jyoti CNC Automation’s IPO:

Key Details:

  • Subscription Period: January 9th to January 11th
  • Price Band: ₹315 – ₹331 per share
  • Issue Size: ₹1,000 crore (entirely fresh issue)
  • Lot Size: 45 shares
  • Listing Date: Tentatively January 16th
  • Lead Managers: Equirus Capital, ICICI Securities, SBI Capital Markets
  • Registrar: Link Intime India Private Ltd

10 Things to Know:

  1. Industry: CNC machine manufacturing and supply
  2. Company Promoters: Vikramsinh Raghuvirsinh Rana, Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, and Jyoti International LLP
  3. Product Line: Multi-tasking machines, CNC machining centers, turning centers, milling centers, vertical machining centers, horizontal machining centers
  4. Manufacturing Facilities: Two in Rajkot, Gujarat, and one in Strasbourg, France
  5. Order Book: ₹3,315 crore as of September 2023
  6. Financial Performance (FY23 vs FY22): Revenue +27%, Profit After Tax (PAT) +131.18%
  7. Listed Peers: Elgi Equipments, Lakshmi Machine Works, Triveni Turbine, TD Power Systems, Macpower CNC Machines
  8. Anchor Investors: Raised over ₹448 crore from Goldman Sachs, Nomura Funds, Neuberger Berman, and others
  9. IPO Objective: Working capital needs, debt repayment, general corporate purposes
  10. GMP (Grey Market Premium): +85, indicating potential listing price of ₹416 per share
Nithya Ramani Iyer