Jyoti CNC Automation IPO Day 3: GMP, subscription status, other details. Apply or not?

livemint.com:

Jyoti CNC Automation IPO: The initial public offering (IPO) of Jyoti CNC Automation Limited opened for subscription on 9th January 2023 and it is going to close on 11th January 2023 i.e. on today evening. Hence, investors have just one day in hand to apply for the public issue.

The CNC machines maker company has fixed the Jyoti CNC Automation IPO price band at ₹315 to ₹331 per equity share. The book build issue is proposed for listing on BSE and NSE. As per the Jyoti CNC Automation IPO subscription status, the book build issue has received a strong response from investors in the first two days of bidding.

Shares of Jyoti CNC Automation Limited have been available for trade since the weekend. According to stock market observers, Jyoti CNC Automation shares are quoting at a premium of ₹75 in the grey market today. As per the stock market observers, Jyoti CNC Automation IPO grey market premium (GMP) today is ₹75, which is unchanged from yesterday's GMP of ₹75.

So, Jyoti CNC Automation IPO GMP has remained almost steady in the last two days as Jyoti CNC Automation IPO GMP on Tuesday was ₹76. Market observers said that strong response by investors and bounceback on Dalal Street during the second half of the Wednesday session are some of the possible reasons for Jyoti CNC Automation IPO GMP remaining steady in the grey market today. In the first two days of bidding, the book build issue has been subscribed 3.92 times, the retail portion of the public issue has been subscribed 11.08 times whereas the NII portion of the public offer has been subscribed 6.49 times.