In the dynamic world of IPOs, Jyoti CNC Automation is making its debut with an exciting offering. Here’s a comprehensive guide to help you navigate through the crucial details.
Jyoti CNC Automation IPO Details:
- Price Band: ₹315 to ₹331 per equity share.
- Subscription Dates: January 9 to January 11.
- Lot Size: 45 equity shares, with multiples of 45 thereafter.
Financial Snapshot:
- P/E Ratio (FY 2023):
- Upper Price Band: 324.51 times
- Lower Price Band: 308.82 times
- Floor Price: 157.50 times face value
- Cap Price: 165.50 times face value
Issue Breakdown:
- QIB Allocation: 75%
- NII Allocation: 15%
- Retail Investors: 10%
- Employee Reservation: ₹15 discount per share.
Company Overview:
- Jyoti CNC Automation is a leading CNC machine manufacturer headquartered in India.
- Specializes in multitasking machines, simultaneous 3-axis and 5-axis CNC machining centers, CNC turning centers, CNC turning-milling centers, CNC vertical machining centers (VMCs), and CNC horizontal machining centers (HMCs).
Peer Analysis:
- Listed Peers: Elgi Equipments, Lakshmi Machine Works, Triveni Turbine, TD Power Systems, and Macpower CNC Machines Ltd.
- Jyoti CNC Automation’s IPO worth ₹1,000 crore is a fresh issue with no offer for sale (OFS) component.
Utilization of Funds:
- Net proceeds to be utilized for long-term working capital needs, repayment of borrowings, and general corporate purposes.
- The company aims to leverage the benefits of listing, enhancing visibility, and creating a public market for equity shares.
Timeline:
- Allotment Basis: January 12
- Refund Initiation: January 15
- Listing Date: January 16 on BSE and NSE.
Lead Managers and Registrar:
- Book Running Lead Managers: Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited.
- Registrar: Link Intime India Private Ltd.
Conclusion: With its focus on cutting-edge CNC machinery, Jyoti CNC Automation brings an enticing IPO to the table. Investors eyeing the IPO market should delve into the specifics, considering financials, allocation strategy, and the company’s growth prospects. As always, individual research and expert advice are paramount before making investment decisions.
Disclaimer: The information provided is for informational purposes only. Investors are advised to conduct thorough research and seek professional advice before making investment decisions.
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