Jyoti CNC Automation IPO Oversubscribed 3.24 Times on Strong Investor Demand

10 Jan 2024 , 03:35 AM

Jyoti CNC Automation’s IPO, on its second day, is oversubscribed by 3.24 times, with the closing scheduled for tomorrow.

Retail investors lead the subscription at 10 times, followed by non-institutional investors at 5.12 times, while the QIB category has the least subscription at 2%.

The IPO, priced between Rs 315-331, allows investors to bid for 45 shares in 1 lot and in multiples thereafter.

In the public offer, 50% is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Jyoti CNC Automation holds the third-largest market share in India for metal-cutting CNC machines, constituting about 10% in FY23.

With over two decades of expertise and R&D capabilities, the company provides customized solutions to various industries, including aerospace, defense, auto, general engineering, EMS, and dies and moulds.

The company boasts a robust order book of Rs 3,300 crore to be executed over the next few years, showcasing a diversified product portfolio, a broad customer base, global outreach, and effective utilization of technology to capture growing market opportunities.

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