Stay Informed: Opening Date, Grey Market Premium (GMP), and Price Band for the Jyoti CNC Automation IPO

Uncover Key Details and Potential Returns for the Jyoti CNC Automation IPO

Jyoti CNC Automation's customers include giants like ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, etc.

Gujarat-based computer numerical control machines manufacturer Jyoti CNC Automation will open its initial public offering (IPO) on January 9 for subscriptions. It will be the first IPO of this new year on the main board of Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Jyoti CNC Automation's IPO is a fresh issue of equity shares worth up to ₹1,000 crore. The issue has a fixed price of ₹315-331 per share. The subscription will begin on January 9 and end on January 11. The anchor book will open for a day on January 8.

Anchor investors are qualified institutional buyers (QIB) who are offered shares just before the issue opens to the public for subscription. The investors can bid for a minimum of 45 equity shares and in multiples. Jyoti CNC Automation is planning to list its shares for the second time in nearly a decade. It had filed draft papers with the Securities Exchange Board of India (SEBI) for the issue but later shelved the plan.

The IPO is a fresh issue of equity shares worth up to ₹1,000 crore. The CNC manufacturer has reserved 75% of the IPO size for QIBs, 15% for non-institutional investors, and the remaining 10% for retail individual investors.

How will Jyoti CNC Automation utilize funds raised from the IPO?

The company is planning to use the proceeds from the issue for funding, debt payment, and long-term working capital requirements of the company besides general corporate purposes.

The company's customers include giants like ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, etc. As of September last year, the company had an order book of ₹3,315.33 crore. Equirus Capital, ICICI Securities, and SBI Capital Markets are the book-running lead managers to the issue

Jyoti CNC Automation IPO GMP

The shares of Jyoti CNC Automation are trading at a premium of ₹76 in the grey market. They are expected to be listed at a premium of 22% above the issue price.