Jyoti CNC Automation IPO was subscribed 2.52 times, on day 1. Within the first 30 minutes, the Jyoti CNC IPO’s retail portion was fully booked. On day 1, Jyoti CNC Automation IPO’s retail investors portion was subscribed 8.28 times, Non Institutional Investors (NII) portion was subscribed 3.63 times, and QIB portion was booked 2%. Employee portion was subscribed 3.69 times.
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Jyoti CNC Automation IPO raised ₹448 crore from 37 anchor investors at the upper price band of ₹331 per equity share, on Monday, January 8.
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On day 2, Jyoti CNC Automation IPO’s retail investors portion was subscribed 9.50 times, Non Institutional Investors (NII) portion was subscribed 4.63 times, and QIB portion was booked 2%. Employee portion was subscribed 4.41 times.
Jyoti CNC Automation IPO subscription status
Jyoti CNC Automation IPO has received bids for 5,28,72,615 shares against 1,75,39,681 shares on offer, at 11:30 IST, according to data from the BSE.
Jyoti CNC IPO retail investors’ portion received bids for 3,00,02,580 shares against 31,58,730 shares on offer for this segment.
Jyoti CNC Automation IPO’s non-institutional investors’ portion received bids for 2,19,36,600 shares against 47,38,095 on offer for this segment.
Jyoti CNC IPO’s QIBs portion received bids for 1,98,315 shares against 94,76,190 shares on offer for this segment.
Jyoti CNC Automation IPO employee portion received bids for 7,35,120 shares against 1,66,666 shares on offer for this segment.
Also Read: Jyoti CNC Automation IPO: Issue fully booked on day 1, retail portion subscribed 8.28x
Jyoti CNC Automation IPO details
Jyoti CNC IPO, which is worth ₹1,000 crore, is completely a fresh issue; there is no offer for sale (OFS) component, according to RHP.
The company plans to use the net proceeds from the fresh offering for the following purposes: to finance the company’s long-term working capital needs; to pay back and/or prepay, in full or in part, some of the borrowings that the company has taken out; and for general corporate purposes.
“In addition, our company expects to receive the benefits of listing of equity shares on the stock exchanges including enhancing our company’s visibility and brand image among our existing and potential customers and creating a public market for our company’s equity shares in India,” said Jyoti CNC Automation in its RHP.
The Jyoti CNC Automation IPO’s book running lead managers are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited, and the registrar is Link Intime India Private Ltd.
Also Read: Jyoti CNC Automation IPO: GMP, subscription status, review, other details. Apply or not?
Jyoti CNC Automation IPO GMP today
Jyoti CNC Automation IPO GMP or grey market premium is +77, similar to the previous session. This indicates Jyoti CNC Automation share price were trading at a premium of ₹77 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jyoti CNC Automation share price was indicated at ₹408 apiece, which is 23.26% higher than the IPO price of ₹331.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 10 Jan 2024, 11:44 AM IST