Jyoti CNC Automation IPO opens on January 9: 10 things to know before subscribing

The initial public offering (IPO) of Jyoti CNC Automation will open for subscription on January 9. The issue closes on January 11. The company’s shares are expected to get listed on both the exchanges. Here are 10 things to know about the offer.

  1. What is the business overview of Innova Captab?
    Jyoti CNC Automation is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting for approximately 10% market share in FY23. The company boasts of over 3,000 clients spread in India and across Asia, Europe, North America and rest of the world. Since April 1, 2004, they have supplied over 30,000 CNC machines globally.
  2. What is the industry overview of Jyoti CNC Automation?
    The global CNC machining Centers market is estimated to be $51.5 billion in 2027. This market is majorly driven by global automotive and heavy industries manufacturers, who are embracing automation and advanced software solutions to meet their customers’ needs.
  3. What is the size of Jyoti CNC Automation IPO?
    The IPO is completely a fresh equity issue of shares worth Rs 1,000 crore.
  4. What is the price band for Jyoti CNC Automation IPO?
    The price band of this public issue is fixed at Rs 315-331. Investors can bid for 45 shares in 1 lot and in multiples thereafter.
  5. What is the structure of Jyoti CNC Automation IPO?
    About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
  6. How is the financial performance of Jyoti CNC Automation?
    In FY23, the company’s revenues rose 24% to Rs 929 crore. Profit for the same period was at Rs 15 crore as against a loss of 48 crore a year ago. In the six months ended September 2023, revenues stood at 509 crore and profit came in at Rs 3.3 crore.
  7. What are the objects of Jyoti CNC Automation IPO?
    The company proposes to utilise the net proceeds towards repayment of some of its loans, funding for long-term working capital requirements and general corporate purposes.
  8. What is the current GMP of Jyoti CNC Automation?
    According to market analysts, the current GMP of Jyoti CNC Automation is Rs 77 in the unlisted market.
  9. Who are the book running lead managers for Jyoti CNC Automation IPO?
    Equirus Capital, ICICI Securities, and SBI Capital Markets are the book running lead managers to the issue.
  10. When is the share allotment and listing date of Jyoti CNC Automation IPO?
    The share allotment for the IPO will be finalised on January 12 and the listing date is fixed as January 16.

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