Jyoti CNC Automation Ltd. launched its IPO on Tuesday to raise up to Rs 1,000 crore through a fresh issue.
The price range is set at Rs 315-331 per share. The three-day IPO ends on Thursday.
Of the total issue size, 75% is reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for private retail investors.
Jyoti CNC Automation Ltd. has raised Rs 447.7 crore from anchor investors ahead of its IPO on January 9.
The company has allocated 1,35,27,190 Shares at Rs 331 each to 37 anchor investors. It included investors such as Nippon Life India Trustee, Goldman Sachs Funds, ICICI Prudential Midcap Fund and Kotak Mahindra Trustee, among others.
Goldman Sachs Funds secured 5.30% of the allocation while ICICI Prudential Midcap Fund and ICICI Prudential Infrastructure Funds netted 1.77% each.
Nine domestic investment funds applied through a total of 21 programs, the company said in a stock exchange announcement. They collectively earned 39.11% of the anchor share of Rs 175.12 crore.
Established in 1991, the Rajkot-based company is a manufacturer and supplier of computer numerical controls. The company has a wide range of CNC machines, with the product range including turning centers and vertical and horizontal machining centers.
As of June 30, 2023, Jyoti's production capacity was 4,400 machines per year in India and 121 machines per year in France. Over the past three fiscal years, over 7,200 machines have been delivered to more than 3,000 customers, including the Space Applications Center.
The company also has 29 sales and service centers in Romania, France, Poland, Belgium, Italy and the United Kingdom.
The IPO was subscribed at 0.41 times, or 41%, as of 10:36 a.m. Tuesday.
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Institutional investors: zero
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Non-institutional investors: 0.36x or 36%
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Private investors: 1.73x.
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Employee reservation: 0.48 times or 48%
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