Jyoti CNC Automation IPO Final Day, Records 38.24 Times Subscription

11 Jan 2024 , 03:54 PM

Jyoti CNC Automation’s IPO, open for subscription since January 9, closes today with robust investor response, aiming to raise Rs 1,000 crore at a price band of Rs 315-331 per equity share.

IPO applications must be submitted by 5 pm today, with anticipated listing on BSE and NSE on January 16 and share allotment on January 12.

As of 3.45 PM on the third day of subscription, Jyoti CNC Automation IPO records a substantial 38.24 times subscription rate.

Strong retail demand is evident, with the retail portion oversubscribed by 25.02 times, indicating active participation from individual investors. Additionally, the NII portion is oversubscribed by 36.19 times, reflecting significant interest from non-institutional investors.

The QIB portion has received 44.13 times.

The company has also reserved a portion for its employees which has been subscribed 11.88 times.

The book build issue, over the initial two days, garnered an overall subscription rate of 3.92 times.

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