Jyoti CNC IPO: Jyoti CNC Automation Limited IPO Details

The Jyoti CNC Automation IPO is generating significant buzz in the financial markets as it opens for subscription from January 9, 2024, to January 11, 2024. This Initial Public Offering is a book-built issue with a total size of Rs 1,000.00 crores, consisting entirely of fresh issue shares amounting to 3.02 crore shares. Jyoti CNC Automation Limited, an established player in the CNC machine manufacturing industry, plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) with a tentative listing date of Tuesday, January 16, 2024. In this blog, we will dive into the details of this IPO, its financials, objectives, and what investors can expect.

IPO Details:

ParameterDetails
IPO NameJyoti CNC Automation IPO
IPO DateJanuary 9, 2024, to January 11, 2024
Listing DateJanuary 16, 2024
Face Value₹2 per share
Price Band₹315 to ₹331 per share
Lot Size45 Shares
Total Issue Size30,211,480 shares (aggregating up to ₹1,000 Cr)
Fresh Issue30,211,480 shares (aggregating up to ₹1,000 Cr)
Employee DiscountRs 15 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding pre-issue197,204,447 shares
Shareholding post-issue227,415,927 shares

Also Read: Upcoming IPO in India

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Reservation:

  • QIB Shares Offered: Not less than 75% of the Net Issue
  • Retail Shares Offered: Not more than 10% of the Net Issue
  • NII (HNI) Shares Offered: Not more than 15% of the Net Issue

Lot Size and Investment:

Investors can bid for a minimum of 45 shares and in multiples thereof. Here’s a breakdown of the minimum and maximum investment amounts:

ApplicationLotsSharesAmount
Retail (Min)145₹14,895
Retail (Max)13585₹193,635
S-HNI (Min)14630₹208,530
S-HNI (Max)673,015₹997,965
B-HNI (Min)683,060₹1,012,860

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Promoter Holding:

The promoters of Jyoti CNC Automation Limited are Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, Vikramsinh Raghuvirsinh Rana, and Jyoti International LLP. The shareholding pre-issue stands at 72.66%.

IPO Objectives:

The company intends to utilize the net proceeds from the fresh issue for the following purposes:

  1. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
  2. Funding long-term working capital requirements.
  3. General corporate purposes.

Also Read: What is IPO?: Benefits of Investing in an IPO

Financial Highlights:

Jyoti CNC Automation Limited has shown impressive financial growth between the financial years ending March 31, 2022, and March 31, 2023. Their revenue increased by 27%, and profit after tax (PAT) witnessed a remarkable rise of 131.18%.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,706.071,515.381,286.241,388.19
Revenue510.53952.60750.06590.09
Profit After Tax3.3515.06-48.30-70.03
Net Worth205.6336.23-29.6818.67
Reserves and Surplus213.3349.1411.6783.11
Total Borrowing821.40834.97792.16725.12
Amount in ₹ Crore
Financial Data Graphs

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About Jyoti CNC Automation Limited:

Incorporated in January 1991, Jyoti CNC Automation Limited is a prominent manufacturer and supplier of CNC machines. The company, based in India, specializes in manufacturing and supplying a wide range of CNC machines, including turning centers, vertical and horizontal machining centers, and multi-tasking machines. Their customer base includes prestigious names such as ISRO, BrahMos Aerospace, Tata, Bosch, and many more.

Jyoti CNC has a comprehensive product portfolio with over 200 types of machines across 44 series. They have delivered over 30,000 CNC machines globally, catering to customers in India, Europe, North America, and parts of Asia.

Jyoti CNC Automation IPO

With three manufacturing facilities in India and one in Strasbourg, France, the company has the capabilities to design, develop, and manufacture its entire product line. As of June 30, 2023, they had an order backlog of ₹31,430.56 million.

Also Read: When Can a Company Go for IPO in India

Key Performance Indicators (KPIs):

  • P/E (x): 324.5
  • ROE: 18.35%
  • ROCE: 9.50%
  • Debt/Equity: 10.17
  • EPS (Rs): 1.02
  • RoNW: 18.35%

Registrar and Lead Managers:

The registrar for the Jyoti CNC Automation IPO is Link Intime India Private Ltd, and the lead managers are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited.

Also Read: The IPO Cycle: From Inception to Listing

IPO Timeline:

  • IPO Opens: January 9, 2024
  • IPO Closes: January 11, 2024
  • Basis of Allotment: January 12, 2024
  • Initiation of Refunds: January 15, 2024
  • Credit of Shares to Demat: January 15, 2024
  • Listing Date: January 16, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on January 11, 2024

In conclusion, the Jyoti CNC Automation IPO presents an exciting investment opportunity in a company with a strong track record, robust financials, and a diversified customer base. Investors should carefully assess the prospectus and conduct their due diligence before considering participation in this IPO.

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