Jyoti CNC Automation IPO: First IPO of 2024 opening this week, issue worth Rs 1000 crore, know the condition of GMP

Jyoti CNC Automation IPO: First IPO of 2024 opening this week, issue worth Rs 1000 crore, know the condition of GMP

Jyoti CNC Automation IPO: 2023 has been very good in terms of IPO. IPOs of many companies have made huge profits for the investors. With the beginning of the year 2024, the first IPO of the year is going to come. The IPO of Gujarat company Jyoti CNC Automation is about to open. This IPO is opening for retail investors on 9 January. In such a situation, if you are thinking of investing in Initial Public Offering in the new year, then we are telling you about its details.

Important dates related to Jyoti CNC Automation-

This Gujarat based company is trying to raise Rs 1000 crore through IPO. The company's IPO is opening for investors on Tuesday, January 9. You can bid in this till 11th January. The company has fixed the date for allotment of shares as 12 January 2023. Apart from this, unsuccessful investors will be refunded their money on January 15. The shares will be transferred to the demat account of successful investors on January 15. According to chittorgarh.com, the listing of shares will take place on January 16. Shares will be listed on BSE and National Stock Exchange.

What is the price band fixed?

The company has also announced its price band per share before the IPO. The price band of Jyoti CNC Automation IPO has been fixed between Rs 315 to Rs 331 per share. In this IPO, the company has fixed a lot of 45 shares for investors. Such retail investors can buy a minimum of one lot and a maximum of 13 lots. A minimum bid of Rs 14,895 and a maximum of Rs 1,93,635 can be placed in such shares. In this IPO, 15 percent has been reserved for high net individuals, maximum 75 percent for qualified institutional buyers and 10 percent for retail investors. The face value of the company's shares is Rs 2 per share.

How is the condition of GMP?

According to investorgain.com, shares of Jyoti CNC Automation remain at GMP of Rs 76 in the gray market. In such a situation, if this situation persists till the listing day, then the shares can be listed at Rs 407 at a premium of 22.96 percent. The special thing about this IPO is that it is a completely fresh share IPO, that is, not a single share will be issued through offer for sale. Jyoti CNC Automation manufactures Computer Numerical Control i.e. CNC machines in many fields like aerospace, medical and defense automation. In the financial year 2022-23, the company had achieved a profit of Rs 15.06 crore. Apart from India, it has many customers in foreign countries also. 

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