Jyoti CNC Automation IPO Details: Launching January 9th, 2024
The Jyoti CNC Automation IPO is opening for subscription tomorrow, January 9th, 2024 and will close on January 11th, 2024. Here are some key details you should know:
General Information:
- Type of Issue: Mainboard IPO
- Issue Size: ₹1,000 crores (entirely fresh issue)
- Number of Shares Offered: 30,211,480 equity shares
- Price Band: ₹315 to ₹331 per share
- Minimum Lot Size: 45 shares
- Listing Exchanges: BSE & NSE
- Tentative Listing Date: January 16th, 2024
- Book Running Lead Managers: Equirus Capital, ICICI Securities, SBI Capital
- Registrar to the Issue: Link Intime India Private Ltd
Company Information:
- Jyoti CNC Automation is one of the leading manufacturers of metal-cutting computer numerical control (CNC) machines in India.
- They hold the third-largest market share in India with approximately 10% in FY23.
- They are also a prominent manufacturer of 5-Axis CNC machines in India.
Financial Highlights:
- Strong order book of Rs. 3315 crore+ as of September 30th, 2023.
- Revenue of Rs. 583.41 crore for FY23 (up 60.8% YoY).
- Profit After Tax (PAT) of Rs. 52.27 crore for FY23 (up 147.3% YoY).
- P/E based on FY23 earnings and annualized FY24 earnings are high, ranging from 501.52 to 1103.33.
Risks and Analyst Recommendations:
- Some analysts recommend avoiding the IPO due to its high valuation and concerns about industry cyclicality.
- Others suggest caution and advise only well-informed long-term investors to consider subscribing.
Before investing, it's crucial to conduct your own research and due diligence. Consider your risk tolerance and investment goals carefully. The information provided here is for informational purposes only and should not be construed as financial advice.