Jyoti CNC Automation IPO allotment: Check application status, latest GMP and listing date

Jyoti CNC Automation is scheduled to announce the basis of allotment of its shares most likely on Friday, January 12. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Monday, January 15 or over the weekend. The first IPO of the year received a strong response from the investors during the book building process. Jyoti CNC Automation sold its IPO in the price band of Rs 315-331 per share with a lot size of 45 shares, which was open for bidding between January 09 to January 11. The company aimed to raise around Rs 1,000 crore from its primary offering, which entirely included a fresh share sale of 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. Grey market premium (GMP) of Jyoti CNC Automation has stabilized, after a steep correction during the bidding process. Last heard, the company was commanding a premium of Rs 55-60 per share, suggesting a listing pop of 17-20 per cent for the investors. However, it was around Rs 80-100, before the issue opened for bidding. 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. Brokerage firms had a mixed view on the issue of Jyoti CNC Automation. A few suggest to bid for the issue in the longer run citing its strong business and market share, while others suggest to avoid the issue on the back of low profitability, loss making nature of business and mounting debt. 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 had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website: 1) Visit https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select Jyoti CNC Automation Limited in the dropbox 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue. 1) Go to the web portal of Link Intime Limited 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit.  

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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