Jyoti CNC Automation raises Rs 448 crore from anchor investors ahead of IPO
Jyoti CNC Automation has raised Rs 448 crore from anchor investors ahead of the IPO opening on Tuesday. The company has allocated about 1.35 crore shares to various marquee investors at Rs 331 apiece, which is the upper price band for the offer.
In the anchor round, leading funds including Goldman Sachs, Nomura HSBC, Edelweiss, Axis MF, Kota MF, Nippon MF, Canara Robeco MF, Invesco India among others participated.
Jyoti CNC Automation is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting for approximately 10% market share in FY23.
With an expertise built over 2 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.
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The company has a robust order book of Rs 3,300 crore, that will be executed over the span of next few years. Its other strengths include diversified product portfolio and customer base, strong global outreach and the ability to use technology to good effect to capture growing market opportunities.
The CNC machine market is likely to clock a 10% CAGR over CY23-27. This growth is expected to be propelled by the growth in the manufacturing industries due to factors such as industrial automation, and integration of computer-aided manufacturing.
The company posted a revenue and EBITDA CAGR of 27% and 75%, respectively over FY21-23. From a net loss of Rs 70 crore in FY21, it posted a profit of Rs 15 crore in FY23.
Jyoti CNC Automation IPO details
In the public offer, about
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