Jyoti CNC share price makes lukewarm debuts, stock lists with 11.8% premium at ₹370 on NSE
- Jyoti CNC share price listed at ₹370 per share on NSE, 11.78% higher than issue price. Jyoti CNC Automation IPO's grey market premium at +38, indicating investors' readiness to pay more than issue price.
Jyoti CNC Automation IPO listing price: Jyoti CNC share price made a lukewarm debut on the bourses today. On NSE, Jyoti CNC share price today was listed at ₹370 per share, 11.78% higher than the issue price of ₹331. On BSE, Jyoti CNC share price was listed at ₹372 apiece, up 12.39% than the issue price.
Analysts predicted that Jyoti CNC Automation IPO listing price would be between ₹360 and ₹380 per share. They stated that the Jyoti CNC IPO listing could result in a listing gain of up to 15%.
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On day 3 of subscription, Jyoti CNC Automation IPO was subscribed 38.53 times. Jyoti CNC Automation IPO received overall good response from retail and non-institutional investors (NII) on all the three days. Jyoti CNC Automation IPO subscription status was 3.92 times on day 2, and the issue was booked 2.52 times, on day 1. Within the first 30 minutes, the Jyoti CNC IPO's retail portion was fully booked.
Jyoti CNC Automation IPO raised ₹448 crore from 37 anchor investors at the upper price band of ₹331 per equity share, on Monday, January 8.
Jyoti CNC Automation IPO details
Jyoti CNC IPO, which is worth ₹1,000 crore, is completely a fresh issue; there is no offer for sale (OFS) component, according to RHP.
The company plans to use the net proceeds from the fresh offering for the following purposes: to finance the company's long-term working capital needs; to pay back and/or prepay, in full or in part, some of the borrowings that the company has taken out; and for general corporate purposes.
“In addition, our company expects to receive the benefits of listing of equity shares on the stock exchanges including enhancing our company’s visibility and brand image among our existing and potential customers and creating a public market for our company’s equity shares in India," said Jyoti CNC Automation in its RHP.
The Jyoti CNC Automation IPO's book running lead managers are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited, and the registrar is Link Intime India Private Ltd.
Jyoti CNC Automation IPO GMP today
Jyoti CNC Automation IPO GMP or grey market premium is +38, similar to the previous session. This indicates Jyoti CNC share price were trading at a premium of ₹38 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jyoti CNC share price was indicated at ₹369 apiece, which is 11.48% higher than the IPO price of ₹331.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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