The retail investors portion of the IPO was subscribed the most at 10 times, followed by non-institutional investors at 5.12 times. The QIB category was least subscribed at just 2%.
Jyoti CNC Automation GMP
Tracking the healthy demand for the IPO, the company’s shares are fetching a premium of Rs 72 in the unlisted market.
Jyoti CNC Automation IPO price band
The IPO is priced in the range of Rs 315-331, where investors can bid for 45 shares in 1 lot and in multiples thereafter.
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In the public offer, about 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and the rest 15% for non-institutional investors.
Jyoti CNC Automation is one of the world’s leading manufacturers of metal-cutting computer numerical control (CNC) machines with the third largest market share in India accounting for approximately 10% market share in FY23.
With an expertise built over 2 decades and R&D capabilities, it delivers customised solutions to industries including aerospace and defense, auto and auto components, general engineering, EMS, dies and moulds, and others.
The company has a robust order book of Rs 3,300 crore, that will be executed over the span of next few years. Its other strengths include diversified product portfolio and customer base, strong global outreach and the ability to use technology to good effect to capture growing market opportunities.
The CNC machine market is likely to clock a 10% CAGR over CY23-27. This growth is expected to be propelled by the growth in the manufacturing industries due to factors such as industrial automation, and integration of computer-aided manufacturing.
The company posted a revenue and EBITDA CAGR of 27% and 75%, respectively over FY21-23. From a net loss of Rs 70 crore in FY21, it posted a profit of Rs 15 crore in FY23.
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