Jyoti CNC IPO: Jyoti CNC IPO is going to hit the market on January 9, know every detail before investing money.
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Jyoti CNC Automation IPO: There was a lot of IPO in the Indian stock market in the year 2023. However, the IPO rally is expected to continue in the year 2024 also. Meanwhile, it is being told that the initial public offering (IPO) of Gujarat’s Jyoti CNC Automation worth Rs 1,000 crore will open on January 9. This will also be the first IPO of 2024 to be listed on the major stock exchanges BSE and NSE. The company is planning to list its shares for the second time in about 10 years. According to preliminary documents, the three-day IPO of Jyoti CNC will close on January 11. Anchor investors will be able to bid for shares on January 8, a day before the issue. The price band of Jyoti CNC Automation IPO has been fixed between ₹315 to ₹331 per equity share of face value of ₹2. The company had received approval from market regulator SEBI to launch an IPO last month. Jyoti CNC had earlier also applied to Securities and Exchange Board of India (SEBI) in 2013 to raise funds through IPO but later changed its mind. Under the IPO, the company will issue new shares worth Rs 1,000 crore. There will be no offer for sale (OFS) in this.
Company employees will get a discount of Rs 15
Jyothi CNC Automation IPO has reserved at least 75% of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15% for non-institutional institutional investors (NIIs) and not more than 10% of the offer. . Reserved for retail investors. A discount of ₹15 per equity share is being offered to eligible employees bidding in the employee reservation portion. Tentatively, Jyoti CNC Automation IPO basis for allotment of shares will be finalized on Friday, January 12, and the company will initiate refunds on Monday, January 15, while the shares will be credited to the demat account of the allottees on the same day after the refund. Will be done. Jyothi CNC share price is likely to be listed on BSE and NSE on Tuesday, January 16. The promoters of the company are Vikramsingh Raghuvirsingh Rana, Parakramsingh Ghanshyamsingh Jadeja, Sahdevsingh Lalubha Jadeja and Jyoti International LLP. Jyoti CNC Automation Limited is a CNC machine manufacturer and supplier. The business is headquartered in India and focuses on the production and distribution of CNC machinery. The product line includes multitasking machines, simultaneous 3-axis and simultaneous 5-axis CNC machining centers, CNC turning centers, CNC turning-milling centers, CNC vertical machining centers (VMC), and CNC horizontal machining centers (HMC).
what is ipo
The full name of IPO is Initial Public Offering. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.
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