Jyoti CNC Automation IPO: Retail portion fully booked within minutes of opening
Also Read: Jyoti CNC Automation IPO: GMP, subscription status, review, other details. Apply or not?
Jyoti CNC Automation IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. A discount of ₹15 per equity share is being offered to eligible employees bidding in the employee reservation portion.
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Jyoti CNC Automation IPO price band has been fixed in the range of ₹315 to ₹331 per equity share of the face value of ₹2. Jyoti CNC Automation IPO lot size is 45 equity shares and in multiples of 45 equity shares thereafter.
On day 1, Jyoti CNC Automation IPO’s retail investors portion was subscribed 2.69 times, Non Institutional Investors (NII) portion was subscribed 51%, and Qualified Institutional Buyers (QIB) portion is yet to be booked. Employee portion was subscribed 78%, so far, at 11:06 IST.
Jyoti CNC Automation IPO subscription status
Jyoti CNC Automation IPO has received bids for 1,13,66,280 shares against 1,75,39,681 shares on offer, at 11:09 IST, according to data from the BSE.
Jyoti CNC IPO retail investors’ portion received bids for 87,49,215 shares against 31,58,730 shares on offer for this segment.
Jyoti CNC Automation IPO’s non-institutional investors’ portion received bids for 24,73,605 shares against 47,38,095 on offer for this segment.
Jyoti CNC IPO’s QIBs portion received bids for 8,010 shares against 94,76,190 shares on offer for this segment.
Jyoti CNC Automation IPO employee portion received bids for 1,43,640 shares against 1,66,666 shares on offer for this segment.
Also Read: Jyoti CNC Automation IPO opens today: GMP, issue details, 10 key things to know
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.
Jyoti CNC Automation IPO GMP today
Jyoti CNC Automation IPO GMP or grey market premium is +100. This indicates Jyoti CNC Automation share price were trading at a premium of ₹100 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 ₹431 apiece, which is 30.21% 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: 09 Jan 2024, 10:50 AM IST
