₹1,000 crore. The public offer consists of a fresh issue by the company, devoid of any offer-for-sale component. The anchor book of the issue will be launched a day before i.e.
January 9. The price bands are yet to be announced. Also read: Jyoti CNC Automation gets SEBI nod to raise ₹1,000 crore via IPO The allotment for the Jyoti CNC Automation IPO is expected to be finalized on Friday, January 12, 2024.
The shares will list on BSE, NSE with tentative listing date fixed as Tuesday, January 16, 2024. Equirus Capital Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jyoti CNC Automation IPO, while Link Intime India Private Ltd is the registrar for the issue. Also read: Gretex Share Broking files DRHP with SEBI for IPO The Gujarat-based company has reserved 75% of the net issue for qualified institutional buyers (QIB), 15 percent for high net-worth individuals (non-institutional investors) and the remaining 10 percent for retail investors.
The manufacturer of computer numerical control (CNC) machines for metal cutting purposes plans to allocate ₹475 crore from the net proceeds of the fresh issue to debt repayment and an additional ₹360 crore for long-term working capital needs. The remaining funds from the net fresh issue will be earmarked for general corporate purposes. Jyoti CNC Automation claims to be the second-largest CNC machine manufacturer in India and accounted for approximately 8% of the market share in fiscal 2022.
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