Jyoti CNC Automation gets Sebi nod for Rs 1,000 crore public issue
Jyoti CNC Automation has received a nod from the Securities and Exchange Board of India (Sebi) to launch its initial public offer (IPO). The company’s initial public offering comprises a fresh issue of Rs 1,000 crore.
The company had filed its Draft Red Herring Prospectus (DRHP) with the market regulator in September 2023.
The company proposes to utilise the net proceeds towards repayment and/or pre-payment of some of its loans in full or part, a company release said on Wednesday. The company had availed funding for long-term working capital requirements and general corporate purposes.
Jyoti CNC Automation claims to be the second-largest CNC machine manufacturer in India accounting for approximately 8% of the market share in fiscal 2022.
About Jyoti CNC Automation
The firm is a prominent manufacturer of simultaneous 5-axis CNC machines in India and is a supplier of a diverse portfolio of CNC machines in India including CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs), CNC Horizontal Machining Centers (HMCs).
With expertise built over two decades and R&D capabilities, it delivers customised solutions to industries including aerospace and defense, auto and auto components, general engineering, EMS, dies and moulds, and others.
The company boasts of over 3,000 clients spread in India and across Asia, Europe, North America and the rest of the world. Since April 1, 2004, they have supplied over 30,000 CNC machines globally.
Jyoti CNC Automation Financials
As of June 30, 2023, Jyoti CNC Automation had an order book of Rs 3,143.05 crore including an order of Rs 260.25 crore from an entity in the electronics manufacturing services (EMS) industry (as per the end-user industries as
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