Jyoti CNC Automation IPO: Latest Subscriptions Status Here, GMP Hints Premium Listing

The Jyoti CNC Automation Initial Public Offering (IPO) is creating waves in the market, witnessing an overwhelming response from retail investors as the subscription status reaches 3.26 times on day 2 at 1:45 pm.

Jyoti CNC Automation's IPO, valued at Rs 1,000 crore, is making headlines as it maintains its strong momentum on day 2, with all portions fully booked except for Qualified Institutional Buyers (QIB). The retail investors' portion, subscribed 10.07 times, has been a standout, reflecting the tremendous interest from individual investors in the offering.

On the first day, the IPO garnered attention by being subscribed 2.52 times, with the retail portion being fully booked within the first 30 minutes of trading. Retail investors displayed significant confidence, subscribing 8.28 times, while the Non-Institutional Investors (NII) portion subscribed 3.63 times, and the QIB portion saw a 2% booking. The employee portion, too, stood strong at 3.69 times.

As of 1:45 pm on day 2, Jyoti CNC Automation IPO has received bids for 5,72,07,150 shares against 1,75,39,681 shares on offer. Notably, the retail investors' portion received bids for 3,18,10,230 shares against 31,58,730 shares available, showcasing the retail enthusiasm. The non-institutional investors' portion and the QIB portion also witnessed robust bidding at 5.15 times and 2% respectively.

The company's employee portion, reflecting strong internal support, received bids for 7,89,570 shares against 1,66,666 shares on offer. These figures underscore the widespread interest in the IPO across various investor segments.

Jyoti CNC IPO, a fresh issue with no Offer for Sale (OFS) component, aims to raise Rs 448 crore from 37 anchor investors at the upper price band of Rs 331 per equity share. The net proceeds will be utilized for long-term working capital needs, repayment of borrowings, and general corporate purposes.

The company, optimistic about the benefits of listing, expects enhanced visibility and brand image among customers, along with the creation of a public market for its equity shares in India.

Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the book running lead managers for the Jyoti CNC Automation IPO, while Link Intime India Private Ltd serves as the registrar.

The grey market premium (GMP) for Jyoti CNC Automation IPO remains robust at +77, indicating a significant premium in the grey market. This translates to a trading premium of Rs 77, reflecting investors' readiness to pay more than the issue price. As a result, the estimated listing price is projected at Rs 408 per share, a substantial 23.26% higher than the IPO price of Rs 331 per share.