Mon. Mar 4th, 2024

Jyoti CNC Automation, a CNC machines manufacturer, is set to debut on the stock exchange. Analysts expect the stock to list at a premium of 15% to 18% against the issue price of ₹331. Despite its robust customer base and diverse product range, analysts remain cautious due to financial hiccups such as past losses and a negative return on equity. The company’s shares are currently commanding a premium of ₹36 in the unlisted market. Jyoti CNC Automation raised ₹1,000 crore through its IPO, and the net proceeds will be used for various purposes, including debt repayment and working capital requirements. It is the first public issue and listing of the year.