Jyoti CNC Automation IPO: Price Band, Lot Size, Financials & Review
Jyoti CNC Automation IPO listed on BSE & NSE on Tue, 16 Jan 2024. The issue was subscribed 40.49x overall.
- Open Date
- 9 Jan 2024
- Close Date
- 11 Jan 2024
Last updated
- Price band
- ₹315 – ₹331
- Lot size
- 45 shares
- Min. investment
- ₹14,895
- Issue size
- ₹1,000 Cr
- Last GMP
- +₹38
- Subscribed
- 🔥 40.49x
Jyoti CNC Automation IPO details
Jyoti CNC Automation IPO is a ₹1,000 Cr iPO on the Mainboard segment, listing on BSE & NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Tue, 9 Jan 2024 to Thu, 11 Jan 2024. Allotment was finalised on Fri, 12 Jan 2024, and the shares listed on BSE & NSE on Tue, 16 Jan 2024.
The price band is ₹315 to ₹331 per share and the lot size is 45 shares, so the minimum retail application is ₹14,895. Retail investors can apply for up to 13 lots (585 shares, ₹1,93,635).
MUFG Intime India Pvt Ltd is the registrar, and ICICI Securities Limited, SBI Capital Markets Limited and Equirus Capital Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last Jyoti CNC Automation IPO GMP before listing was +₹38 (+11.48% against the upper price band of ₹331), implying an estimated listing price of ₹369.
| Last GMP | +₹38 |
|---|---|
| GMP vs upper band | +11.48% |
| Estimated listing price | ₹369 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Jyoti CNC Automation IPO day-wise GMP.
Subscription
Day-wise subscription →Jyoti CNC Automation IPO was subscribed 40.49x overall: QIB 46.37x, NII 38.33x and retail 27.50x.
| Category | Subscribed |
|---|---|
| QIB | 46.37x |
| NII | 38.33x |
| └ bNII (above ₹10 lakh) | 42.77x |
| └ sNII (₹2–10 lakh) | 29.47x |
| Retail | 27.50x |
| Employees | 13.14x |
| Total | 40.49x |
Final figures at the close of bidding on 11 Jan 2024. Category-wise bids, application-wise breakup and allotment chances are on the Jyoti CNC Automation IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 1,35,27,190 | 44.76% |
| Qualified Institutions | 90,18,127 | 29.84% |
| Non-Institutional | 45,09,064 | 14.92% |
| └ BNII | 30,06,042 | 9.95% |
| └ SNII | 15,03,021 | 4.97% |
| Retail Investors | 30,06,042 | 9.95% |
| Employees | 1,58,227 | 0.52% |
| Total | 3,02,18,650 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Jyoti CNC Automation IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,895 |
| Retail (Max) | 13 | 585 | ₹1,93,635 |
| S-HNI (Min) | 14 | 630 | ₹2,08,530 |
| S-HNI (Max) | 67 | 3,015 | ₹9,97,965 |
| B-HNI (Min) | 68 | 3,060 | ₹10,12,860 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹331, the issue is priced at 433.43x pre-issue earnings and 1,122.83x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Promoter holding falls from 72.66% before the issue to 62.60% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹0.76 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 433.43x |
| EPS (post-issue) EPS on the enlarged share capital | ₹0.29 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 1,122.83x |
| Promoter holding (pre-issue) | 72.66% |
| Promoter holding (post-issue) | 62.60% |
Jyoti CNC Automation Limited financials
Between 31 Mar 2022 and 31 Mar 2023, Income rose from ₹750.06 Cr to ₹952.6 Cr, and profit after tax rose from -₹48.3 Cr to ₹15.06 Cr. The PAT margin for 31 Mar 2023 was 1.58%.
| Period ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,706.07 | 1,515.38 | 1,286.24 | 1,388.19 |
| Total Income | 510.53 | 952.60 | 750.06 | 590.09 |
| Profit After Tax | 3.35 | 15.06 | -48.30 | -70.03 |
| Net Worth | 205.63 | 36.23 | -29.68 | 18.67 |
| Reserve & Surplus | 213.33 | 49.14 | 11.67 | 83.11 |
| Total Borrowings | 821.40 | 834.97 | 792.16 | 725.12 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | The market capitalization of Jyoti CNC Automation IPO is Rs 7527.47 Cr. |
|---|---|
| ROE % | 18.35 |
| ROCE % | 9.50 |
| Debt / Equity | 10.17 |
| RoNW % | 18.35 |
| PbW | 59.43 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company |
| 2 | Funding long-term working capital requirements of the company |
| 3 | General corporate purposes. |
About Jyoti CNC Automation Limited
Incorporated in January 1991, Jyoti CNC Automation Limited is a manufacturer and supplier of CNC machines. The company is based in India and specializes in manufacturing and supplying CNC machines.
The product range includes CNC turning centres, CNC turning-milling centres, CNC vertical machining centres (VMCs), CNC horizontal machining centres (HMCs), simultaneous 3-axis CNC machining centres, simultaneous 5-axis CNC machining centres and multi-tasking machines.
The company's customer base includes Indian Space Applications Center - ISRO, BrahMos Aerospace Thiruvananthapuram, Turkish Aerospace, Uniparts India, Tata Advances System, Tata Sikorsky Aerospace, Bharat Forge, Shakti Pumps (India), Shreeram Aerospace & Defense, Rolex Rings, Harsha Engineers, Bosch Limited, HAWE Hydraulics, Festo India, Elgi Rubber, National Fittings and others.
The company has a wide range of CNC machines with 200 types in 44 series. In the last three financial years, over 7,200 machines have been supplied to more than 3,000 customers worldwide, including India, Europe, North America and a few parts of Asia. Since April 1, 2004, Jyoti CNC has delivered over 30,000 CNC machines worldwide.
The company distributes its products worldwide through Huron's established dealer network and also has 29 sales and service centres in Romania, France, Poland, Belgium, Italy and the UK.
The company has three manufacturing facilities, two of which are located in Rajkot, Gujrat, and another in Strasbourg, France, which has the necessary capabilities to design, develop and manufacture the entire product line.
As of June 30, 2023, the company's production capacity was 4,400 machines per year in India and 121 machines per year in France.
As of June 30, 2023, the Company had an order backlog of ₹ 31,430.56 million, including an order of ₹ 2,602.50 million from an electronic manufacturing services (EMS) company.
As of June 30, 2023, the company had a total of 2,573 employees.
Promoters
Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, Vikramsinh Raghuvirsinh Rana, and Jyoti International LLP
Contact details
Jyoti CNC Automation Limited
G - 506, Lodhika GIDC
Village Metoda,
Rajkot – 360 021,
Phone: + 91-2827–235182
Email: investors@jyoti.co.in
Website: https://jyoti.co.in/
Jyoti CNC Automation IPO FAQs
- What is the Jyoti CNC Automation IPO price band?
- The Jyoti CNC Automation IPO price band is ₹315 to ₹331 per share.
- What is the Jyoti CNC Automation IPO lot size and minimum investment?
- The Jyoti CNC Automation IPO lot size is 45 shares. The minimum retail investment is ₹14,895 for one lot at the upper price band. Retail investors can apply for up to 13 lots (585 shares), costing ₹1,93,635.
- When was Jyoti CNC Automation IPO open for subscription?
- Jyoti CNC Automation IPO was open for subscription from Tue, 9 Jan 2024 to Thu, 11 Jan 2024.
- What is the Jyoti CNC Automation IPO subscription status?
- Jyoti CNC Automation IPO was subscribed 40.49x overall: QIB 46.37x, NII 38.33x and retail 27.50x. Day-wise and category-wise figures are on the subscription page.
- What was the Jyoti CNC Automation IPO GMP before listing?
- The last Jyoti CNC Automation IPO GMP before listing was +₹38 (+11.48% against the upper price band of ₹331), implying an estimated listing price of ₹369. GMP is an unofficial grey market indicator and can change quickly.
- What is the Jyoti CNC Automation IPO allotment date?
- The Jyoti CNC Automation IPO basis of allotment was finalised on Fri, 12 Jan 2024. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the Jyoti CNC Automation IPO listing date?
- Jyoti CNC Automation IPO listed on BSE & NSE on Tue, 16 Jan 2024.
- Is the Jyoti CNC Automation IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Jyoti CNC Automation IPO?
- The registrar for the Jyoti CNC Automation IPO is MUFG Intime India Pvt Ltd, and the book running lead managers are ICICI Securities Limited, SBI Capital Markets Limited and Equirus Capital Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.