Jyoti CNC Automation IPO opens tomorrow: GMP, issue details, 10 key thinks to know. Jyoti CNC IPO, Jyoti CNC Automation.
Four IPOs to hit Dalal Street this week, Jyoti CNC to steal spotlight. Jyoti CNC Automation IPO opens on January 9. Jyoti CNC Automation IPO GMP today price.
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Jyoti CNC Automation IPO opens
Jyoti CNC Automation, the first mainboard IPO of 2024, is set to open for subscription today, marking the commencement of the IPO season.
Headquartered in India, Jyoti CNC Automation Limited specializes in the manufacturing and supply of CNC machines, boasting a diverse product line that includes multi-tasking machines, simultaneous 3-axis and simultaneous 5-axis CNC machining centres, CNC turning centres, CNC turning-milling centres, CNC vertical machining centres (VMCs), and CNC horizontal machining centres (HMCs).
The company’s key promoters are Vikramsinh Raghuvirsinh Rana, Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, and Jyoti International LLP.
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Jyoti CNC has three manufacturing facilities, two situated in Rajkot, Gujarat, India, and one in Strasbourg, France. As of September 2023, the company’s order book stood at ₹3,315 crore, with a significant order of ₹305 crore from an electronics manufacturing services (EMS) company.
Between March 31, 2023, and March 31, 2022, Jyoti CNC Automation experienced a 27% increase in revenue and an impressive 131.18% rise in profit after tax (PAT). Notable listed peers include Elgi Equipments Ltd, Lakshmi Machine Works Ltd, Triveni Turbine Ltd, TD Power Systems Ltd, and Macpower CNC Machines Ltd.
Jyoti CNC Automation IPO
Here are the 10 key details about the Jyoti CNC Automation IPO:
IPO Dates: The subscription period for the Jyoti CNC Automation IPO is from January 9 to January 11, 2024.
Price Band: The IPO price band is set between ₹315 to ₹331 per equity share with a face value of ₹2.
Lot Size: The lot size for the IPO is 45 equity shares, with multiples of 45 shares thereafter.
Anchor Investors: The company raised over ₹448 crore from anchor investors on January 8, allocating 1,35,27,190 equity shares at ₹331 per share. Major investors included Goldman Sachs, Nomura Funds, Natixis International Funds, and others.
IPO Details: The ₹1,000 crore IPO is entirely a fresh issue with no offer for sale (OFS) component.
Objectives: The net proceeds from the IPO will be used for long-term working capital needs, repaying or prepaying borrowings, and general corporate purposes.
Listing Details: Tentatively, the basis of allotment will be finalized on January 12, with refunds initiated on January 15. Shares are expected to be credited to the demat accounts of allottees on the same day, and listing on BSE and NSE is slated for January 16.
Lead Manager and Registrar: Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the book running lead managers, and the registrar is Link Intime India Private Ltd.
IPO Reservation: 75% of shares are reserved for qualified institutional buyers (QIB), 15% for non-institutional Institutional Investors (NII), and 10% for retail investors. A ₹15 per equity share discount is offered to eligible employees.
Grey Market Premium (GMP): As of now, the GMP for Jyoti CNC Automation IPO is +85, indicating a premium of ₹85 in the grey market. This suggests an estimated listing price of ₹416, a 25.68% increase from the IPO price of ₹331.
FAQs: Jyoti CNC Automation IPO
Q1: What is Jyoti CNC Automation Limited known for?
A1: Jyoti CNC Automation Limited is known for being a prominent CNC machine manufacturer and supplier with a diverse product line, including multi-tasking machines, CNC machining centres, and turning-milling centres.
Q2: Who are the promoters of Jyoti CNC Automation Limited?
A2: The key promoters of Jyoti CNC Automation Limited are Vikramsinh Raghuvirsinh Rana, Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, and Jyoti International LLP.
Q3: Where is the company headquartered, and where are its manufacturing facilities located?
A3: Jyoti CNC Automation Limited is headquartered in India. It operates three manufacturing facilities, with two located in Rajkot, Gujarat, India, and one in Strasbourg, France.
Q4: What is the order book status of Jyoti CNC Automation as of September 2023?
A4: As of September 2023, Jyoti CNC Automation’s order book totaled ₹3,315 crore, including a significant order of ₹305 crore from an electronics manufacturing services (EMS) company.
Q5: How has the company’s financial performance been between March 31, 2023, and March 31, 2022?
A5: Jyoti CNC Automation witnessed a 27% increase in revenue and a remarkable 131.18% rise in profit after tax (PAT) during the fiscal year ending on March 31, 2023, compared to the previous year.
Q6: Who are the listed peers of Jyoti CNC Automation, according to the Red Herring Prospectus (RHP)?
A6: According to the Red Herring Prospectus (RHP), the listed peers of Jyoti CNC Automation include Elgi Equipments Ltd, Lakshmi Machine Works Ltd, Triveni Turbine Ltd, TD Power Systems Ltd, and Macpower CNC Machines Ltd.
Q7: When is the subscription period for Jyoti CNC Automation IPO?
A7: The subscription period for Jyoti CNC Automation IPO is from January 9 to January 11, 2024.
Q8: What is the price band for Jyoti CNC Automation IPO?
A8: The price band for Jyoti CNC Automation IPO is set between ₹315 to ₹331 per equity share, with a face value of ₹2.
Q9: What is the lot size for Jyoti CNC Automation IPO?
A9: The lot size for Jyoti CNC Automation IPO is 45 equity shares, with multiples of 45 equity shares thereafter.
Q10: How can eligible employees benefit from the IPO?
A10: Eligible employees can avail a discount of ₹15 per equity share in the employee reservation portion of Jyoti CNC Automation IPO.
Q11: What are the objectives of Jyoti CNC Automation IPO in terms of fund utilization?
A11: The net proceeds from the IPO will be used for the company’s long-term working capital needs, repayment or prepayment of borrowings, and general corporate purposes.
Q12: When is the tentative listing date for Jyoti CNC Automation IPO, and where will it be listed?
A12: Tentatively, the basis of allotment will be finalized on January 12, and the shares are expected to be listed on BSE and NSE on January 16, 2024.
Q13: Who are the book running lead managers and the registrar for Jyoti CNC Automation IPO?
A13: The book running lead managers for Jyoti CNC Automation IPO are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited. The registrar is Link Intime India Private Ltd.
Q14: What is the IPO reservation distribution among different investor categories?
A14: Jyoti CNC Automation IPO has reserved 75% of the shares for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% for retail investors. Eligible employees in the reservation portion are offered a ₹15 per equity share discount.
Q15: What is the Grey Market Premium (GMP) for Jyoti CNC Automation IPO?
A15: As of now, the Grey Market Premium (GMP) for Jyoti CNC Automation IPO is +85, indicating a premium of ₹85 in the grey market. This suggests an estimated listing price of ₹416, a 25.68% increase from the IPO price of ₹331.