Tue. Jun 25th, 2024

Jyoti CNC Automation, a company that manufactures metal cutting computer numerical control (CNC) machines, has announced its plans to launch an initial public offering (IPO) of equity shares. The IPO will open on January 9 and close on January 11. The price band for the issue has been set at ₹315 per share to ₹331 per share. Bids can be made for a minimum of 45 shares and multiples of 45 shares thereafter. The IPO aims to raise ₹1,000 crore.

The company plans to utilize the net proceeds from the IPO to repay certain borrowings, fund long-term working capital requirements, and for general corporate purposes.

Jyoti CNC Automation is a leader in the manufacturing of CNC machines and has a strong presence in the Indian market. The company has a wide range of products and serves various industries including automotive, aerospace, defense, oil and gas, and medical devices. With its IPO, Jyoti CNC Automation aims to further expand its operations and enhance its manufacturing capabilities.

Investors interested in participating in the IPO can submit their bids through the designated stock exchanges. The shares will be allocated through a lottery system and investors will be able to check the IPO allotment status on the stock exchanges’ websites.

Jyoti CNC Automation has a strong track record of financial performance and has consistently generated positive cash flows. The company has a robust order book and a well-established customer base. With its IPO, Jyoti CNC Automation aims to tap into the growing demand for CNC machines in India and position itself as a leading player in the industry.

In conclusion, Jyoti CNC Automation’s IPO presents an opportunity for investors to participate in the growth of the CNC machine manufacturing industry in India. The company’s strong market position, sound financial performance, and growth prospects make it an attractive investment opportunity. Investors should carefully consider the risks and potential rewards before making any investment decision.