India News Nation

2.5 Subscribers to Jyoti CNC IPO; see GMP Details

<p><strong>Jyoti CNC IPO GMP:</strong> Jyoti CNC’s public offering was 2.5 times oversubscribed on the second day of the auction, January 10, with 4.4 crore shares being purchased against 1.75 crore shares.</p>
<p><img decoding=”async” class=”alignnone wp-image-345700″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-750×422.jpg” alt=”theindiaprint.com 2 5 subscribers to jyoti cnc ipo see gmp details ipo1704864565599″ width=”1076″ height=”605″ title=”2.5 Subscribers to Jyoti CNC IPO; see GMP Details 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-2-5-subscribers-to-jyoti-cnc-ipo-see-gmp-details-ipo1704864565599.jpg 1200w” sizes=”(max-width: 1076px) 100vw, 1076px” /></p>
<p>With 8.25 times the allocated quota, retail investors took the lead, followed by high net worth individuals (HNI) with 3.63 times the offer and qualified corporate purchasers with 0.02 times the bid against the share set aside for them.</p>
<p>The company’s initial public offering (IPO) goal is to raise Rs 1,000 crore. 3.02 crore shares, a completely new offering, are being offered. The price range of Rs 315-331 per share has been determined by the firm. The shares are anticipated to list on the NSE and BSE on January 16 after the offer closes on January 11.</p>
<p><strong>447.75 crore is raised by Jyoti CNC Automation.</strong></p>
<p>A day before to the IPO’s debut, the business raised Rs 447.75 crore from 37 anchor investors.</p>
<p>Jyoti CNC Automation intends to utilize the net proceeds for general company purposes, with a portion going toward debt repayment and long-term working capital needs.</p>
<p>ISRO, BrahMos Aerospace, Turkish Aerospace, Tata Advances System, Bharat Forge, Shakti Pumps, and Shreeram Aerospace & Defense are just a few of the companies that Jyoti CNC Automation produces and distributes CNC machines to. Three production sites are owned by the corporation; two are located in Rajkot, Gujarat, while the third is in Strasbourg, France.</p>
<p>Jyoti CNC’s shares are now trading at a premium of Rs 77, unchanged from the previous session, according to Investorgain.</p>
<p>The expected list price of Jyoti CNC Automation stock is ₹408 per share, which is 23.26% more than the upper band of the IPO price, which is Rs 331, when taking into account the top of the IPO price band and the existing premium on the grey market.</p>