Jyoti CNC Automation shares lists at 12% premium; stock debut at Rs 372 on BSE

Shares of Jyoti CNC Automation Ltd were listed at the bourses at Rs 372, a premium of 12.39 per cent, against the issue price of Rs 331 apeice on the BSE. The stock kicked off its maiden trading session at a premium of 11.78 per cent at Rs 370 on the National Stock Exchange (NSE).

The listing of Jyoti CNC has been in line with the expectations as the stock was commanding a premium of Rs 38-40 per share in the grey market ahead of its listing, suggesting a listing pop of 11-12 per cent to the investors. However, the premium in the unofficial market was around Rs 100 apiece when the bidding for the issue commenced.

Jyoti CNC Automation concluded its Initial Public Offering (IPO), with shares priced in the range of Rs 315-331 each and a lot size of 45 shares. The bidding window for the IPO was open from January 9 to January 11. The company garnered a total of Rs 1,000 crore through its primary offering, featuring a fresh share issuance of over 3.02 crore equity shares.

The IPO witnessed strong demand across all investor categories, resulting in an overall subscription rate of 38.53 times. Qualified institutional bidders (QIBs) subscribed 44.13 times, non-institutional investors subscribed 36.48 times, while retail investors and employees 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.

Equirus Capital, SBI Capital Markets and ICICI Securities are the book running lead managers of the IPO of Jyoti CNC Automation , while Link Intime India is the registrar for the issue. 

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