Jyoti CNC Automation IPO: GMP, subscription status, review, other details. Apply or not?

Jyoti CNC Automation IPO: The initial public offering of Jyoti CNC Automation Limited has opened today and it will remain open for subscribers till 11th January 2024. This means the public issue will remain open from Tuesday to Thursday this week. The CNC machines maker company has fixed the Jyoti CNC Automation IPO price band at ₹315 to ₹331 per equity share. The book build issue is proposed for listing on BSE and NSE.

Shares of Jyoti CNC Automation Limited have been available for trade since the weekend. According to stock market observers, Jyoti CNC Automation shares are quoting at a premium of ₹76 in the grey market today.

Jyoti CNC Automation subscription status

By 3:24 PM on day one of bidding, the public issue has been subscribed 1.86 times whereas its retail portion has been subscribed 6.94 times. The book build issue has been subscribed 2.13 times in NII category.

See Jyoti CNC Automations IPO details below:

Important Jyoti CNC Automation IPO details

1] Jyoti CNC Automation IPO GMP today: Shares of Jyoti CNC Automation Ltd are available at a premium of ₹76 in the grey market today.

2] Jyoti CNC Automation IPO price: The CNC machines maker company has fixed the price band of this book build issue at ₹315 to ₹331 per equity share.

3] Jyoti CNC Automation IPO date: The public issue has opened today and it will remain open till 11th January 2024.

4] Jyoti CNC Automation IPO size: The automotive company aims to raise ₹1,000 crore via the issuance of fresh shares.

5] Jyoti CNC Automation IPO lot size: A bidder will be able to apply in lots and one lot of the book build offer comprises 45 company shares.

6] Jyoti CNC Automation IPO allotment date: In the wake of the T+3 listing schedule, share allocation is expected on 12th January 2024 i.e. on Friday next week.

7] Jyoti CNC Automation IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of the Jyoti CNC Automation IPO,

8] Jyoti CNC Automation IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Jyoti CNC Automation IPO listing date: Shares of Jyoti CNC Automation Ltd may be listed on 16th January 2024.

Jyoti CNC Automation IPO: Apply or not?

10] Jyoti CNC Automation IPO review: Giving 'subscribe' tag to the book build issue, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "In the first half of FY24, which ended on September 30, 2023, it earned a net profit of ₹3.35 crore. from a total income of ₹510.53 crore. Proceeds from the IPO, ₹475 crore will be allocated for repayment/prepayment of borrowings, ₹360 crore for working capital, and the remainder for general corporate purposes. Considering all factors, we recommend that investors apply for the potential listing gains."

Reliance Securities has also given a 'subscribe' tag to the public issue citing, "With improved market share, growing industry demand, diversified presence, augmenting capacities at regular intervals and improving financial risk profile by repaying certain debt, strong order book of ₹3310 crore to be executed over next few years augurs well for the company. Hence we suggest a SUBSCRIBE rating for the long term."

Ventura Securities, Marwadi Shares and Finance, and Mehta Equities have given a 'subscribe' tag to this book build issue whereas SMC Global Securities and Swastika Investmart have given a 'neutral' tag to this public issue.