Jyoti CNC Automation, a Gujarat-based company, has set a price band of Rs 315-331 per share for its upcoming initial public offering (IPO). This IPO is the first to hit the NSE and BSE in 2024.
The grey market premium (GMP) for Jyoti CNC Automation’s IPO has witnessed a massive jump, reaching between Rs 130-135, compared to Rs 60 on the previous day. GMP refers to the price probable buyers are willing to pay above the IPO price.
Based on the current GMP, the listing price for Jyoti CNC Automation’s IPO could be Rs 466, subject to change due to market dynamics and supply and demand.
The IPO subscription date for Jyoti CNC Automation will begin on January 9 and end on January 11. Investors can bid for a minimum of 45 equity shares and in multiples thereof.
Jyoti CNC is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, and others.