Jyoti CNC Automation Share Price: Jyoti CNC Automation share price made a lukewarm debut on the bourses today. On NSE, Jyoti CNC share price today was listed at Rs 370 per share, 11.78 per cent higher than the issue price of Rs 331. On BSE, Jyoti CNC Automation share price was listed at Rs 372 apiece, up 12.39 per cent from the issue price.
Grey market premium (GMP) of Jyoti CNC Automation has continued to correct, since the closure of the issue, even as broader markets are scaling new highs. Last heard, the company was commanding a premium of Rs 40-45 per share, suggesting a listing pop of 12-15 per cent for the investors. However, it was around Rs 80-100, before the issue opened for bidding.
Jyoti CNC Automation has sold its IPO in the price band of Rs 315-331 apiece with a lot size of 45 shares, which was open for bidding between January 9 to January 11. The company raised a total of Rs 1,000 crore from its primary offering, which entirely included a fresh share sale of more than 3.02 crore equity shares.
The issue was overall subscribed 38.53 times, thanks to strong bidding across all investor categories. The allocation for qualified institutional bidders (QIBs) was booked 44.13 times, while the quota for non-institutional investors was subscribed 36.48 times. The portion reserved for retail investors and employees was subscribed 26.17 times and 12.47 times, respectively.
Jyoti CNC Automation is a manufacturer and supplier of CNC machines, which is specialized in a diverse range of CNC machines, offering 200 types across 44 series. CNC machines are computer numerical control machines, which play an important role in the manufacturing industry.
SBI Capital Markets, Equirus Capital and ICICI Securities are the book running lead managers of the Jyoti CNC Automation IPO, while Link Intime India is the registrar for the issue. Shares of the company will be listed on both BSE and NSE, with January 16, Tuesday, as the tentative date of listing.
Investors, who bid for the issue of Jyoti CNC Automation, can check the allotment status on the BSE website’s IPO application check page. Check-in equity, under the issue type and select Jyoti CNC Automation Limited in the dropbox; type-in the application number and add the PAN card number before checking-in at ‘I am not a Robot’ before hitting the submit button.
What Should Investors?
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd., said: “Jyoti CNC Automation, the Indian leader in CNC machine manufacturing, made its debut on the stock market, listing at Rs 370 per share, an 11.8% premium over its issue price of Rs 331. While Jyoti CNC’s strong brand presence and robust market share are undeniable, the financial concerns and hefty valuation necessitate a cautious approach. Jyoti CNC’s listing debut was positive but overshadowed by concerns. Thus we recommend investors book profit and exit their position; however, those who still want to hold it should keep a stop loss at around issue price.”
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