Jyoti CNC Automation, a prominent manufacturer of Computer Numerical Control (CNC) machines based in Gujarat, is gearing up for its much-anticipated initial public offering (IPO). The company has set the stage for its IPO with significant details unveiled for potential investors. Let’s delve into the specifics of this IPO, shedding light on the price band, utilization of funds, financial insights, and the key figures managing this strategic move.
What is the IPO Price Band fixed for Jyoti CNC Automation?
The IPO by Jyoti CNC Automation has set the price band between Rs 315 to Rs 331 per equity share. This pricing range provides potential investors with a clear understanding of the valuation at which the company intends to offer its equity shares to the public. With the IPO valued at up to Rs 1,000 crore, this price band delineates the range within which investors can participate in this significant market offering.
Jyoti CNC Automation IPO Details:
The IPO by Jyoti CNC Automation has established a price band ranging between Rs 315 to Rs 331 per equity share. This public offering amounts to a substantial sum of up to Rs 1,000 crore and is exclusively composed of fresh issue equity shares.
Investors will have the opportunity to participate by subscribing to a minimum of 45 shares in one lot, with the option to increase their subscription in multiples thereafter. Eligible employees are also offered a discount of Rs 15 per equity share under the employee reservation portion. The IPO will open on January 9 and conclude on January 11, with the anchor book scheduled to launch on January 8, by the Red Herring Prospectus (RHP).
What will Jyoti CNC Automation do with IPO Funds?
The proceeds garnered from this IPO are earmarked for several strategic purposes. Jyoti CNC Automation intends to utilize the funds to tackle existing debts, support long-term working capital requirements, and cater to general corporate objectives. This financial injection is envisioned to fortify the company’s financial structure and facilitate its growth trajectory in the CNC machine manufacturing industry.
Jyoti CNC Automation Financial Details:
As of September 2023, Jyoti CNC Automation boasted a robust order book, tallying up to an impressive Rs 3,315.33 crore. This substantial backlog signifies a promising outlook for the company, underlining a steady influx of business and potential growth opportunities on the horizon.
Who is the lead manager of Jyoti CNC Automation IPO?
Equirus Capital, ICICI Securities, and SBI Capital Markets have been appointed as the book-running lead managers steering the course of Jyoti CNC Automation’s IPO. Their expertise and strategic guidance are expected to play a pivotal role in ensuring the success and effective management of this crucial market offering.
In summary, the IPO by Jyoti CNC Automation emerges as a pivotal opportunity for investors to delve into the world of CNC machine manufacturing. With a competitive price band, substantial order book, and seasoned lead managers, the market eagerly anticipates the outcome of this strategic move as the company ventures into a new phase of growth and expansion.