Subscribe To Our Free Newsletter |
Jyoti CNC Automation’s IPO worth Rs 1,000 crore to open on January 9
Gujarat-based Jyoti CNC Automation's initial public offering worth up to Rs 1,000 crore will open on January 9.
It will also be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE.
The company is planning to list its shares for the second time in nearly 10 years.
The three-day Initial Public Offering (IPO) of Jyoti CNC will close on January 11, while the anchor book of the offer will be launched for a day on January 8, as per the Red Herring Prospectus (RHP).
The price band for the offer is yet to be announced.
Last month, the company got approval from markets regulator Sebi to float the public issue.
The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore.
The proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes.
Jyoti CNC Automation is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers in