Jyoti CNC Automation IPO: The IPO for Jyoti CNC Automation is scheduled to conclude on January 11 and the price range for each share is set at Rs 315–331. On the first day of bidding, January 9, Jyoti CNC Automation’s initial public offering saw a subscription of 1.4 times, with bids reaching 2.5 crore shares against the nearly 1.7 crore shares offered in the issue.
Retail investors took the lead in the subscription race, securing 5.5 times their share, high net-worth individuals subscribed 1.5 times their allocated quota, while qualified institutional buyers were still hesitating to show strong interest in the offering. Scheduled to conclude on January 11, the Rs 1,000-crore public offering comprises an exclusive fresh issue of 3.02 crore shares, featuring a price band set between Rs 315 and Rs 331 per share. Anticipated to debut on both the NSE and BSE on January 16, this offering marks a significant financial event in the market.
Jyoti CNC Automation IPO
The company intends to deploy the net proceeds from the public offering towards fulfilling long-term working capital requirements. Additionally, a portion of the funds will be allocated for the purpose of repaying existing borrowings. The remaining balance will be earmarked for general corporate purposes, contributing to overall operational and strategic initiatives.
The company manages three manufacturing facilities, comprising two located in Gujarat, India, and one situated in Strasbourg, France. Collectively, these units boast an annual manufacturing capacity of 4,400 machines in India and 121 machines in France. This geographic distribution underscores the company’s global operational footprint and production capabilities. In the fiscal year 2022-23, Jyoti CNC Automation marked a notable financial turnaround, reporting a profit of Rs 15.06 crore compared to a loss of Rs 48.3 crore in the preceding fiscal year. This positive shift was accompanied by a robust growth in revenue, which surged by 24.5 percent, reaching Rs 929.3 crore. The significant improvement in both profitability and revenue reflects the company’s successful financial performance and strategic initiatives during the mentioned fiscal year.
