Jyoti CNC Automation Limited to Launch Initial Public Offering (IPO)
The initial public offering (IPO) of Jyoti CNC Automation Limited is set to open for public subscription from January 9th to January 11th. This marks the company’s first mainboard IPO for the current year, aiming to raise Rs 1,000 crores through the issue.
Retail investors will have the opportunity to subscribe to the IPO from January 9th to January 11th. The company’s shares are scheduled to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on January 16th.
For detailed information and participation in the IPO, interested investors should refer to the prospectus and follow the subscription process during the specified dates.
Minimum and Maximum Bid Amounts for Jyoti CNC Automation Limited IPO
For the IPO, retail investors can apply for a minimum of one lot, which is equivalent to 45 shares. The company has set the IPO price band per share at ₹315-₹331. If an investor chooses to bid for one lot at the upper price band of ₹331, the total bid amount would be ₹14,895. Retail bidders can apply for up to 13 lots, which is 585 shares, requiring a bid amount of ₹193,635.
Jyoti CNC Automation Limited plans to raise ₹1,000 crores through this IPO by issuing new shares. This is the company’s first IPO for the current year, and it involves the issuance of 30,211,480 shares. The promoters or other existing shareholders will not be selling their shares through an Offer for Sale (OFS).
Investors may potentially gain a premium of 20.24% on the listing price, representing ₹67 per share. With this premium, if the upper price band of ₹331 is considered, the listing could happen at ₹398.