Jyoti CNC Automation Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | January 9, 2024 to January 11, 2024 |
| Listing Date | January 16, 2024 |
| Face Value | ₹ 2 per share |
| Price Band | ₹ 315 to ₹ 331 per share |
| Lot Size | 45 Shares |
| Total Issue Size | 3,02,11,480 shares (aggregating up to ₹ 1,000.00 Cr) |
| Fresh Issue | 3,02,11,480 shares (aggregating up to ₹ 1,000.00 Cr) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 19,72,04,447 |
| Share holding post issue | 22,74,15,927 |
About Jyoti CNC Automation Limited IPO
Jyoti CNC Automation Ltd. is one of the largest CNC machine manufacturers of the Nation. Since inception, the company has grown manifold from manufacturing gearboxes for machines to developing precision all-geared head lathe machines. Later on Jyoti has identified shift from conventional machines to highly sophisticated CNC machines. The company has a very widespread product basket consisting of series of CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers, CNC Horizontal Machining Centers, CNC 5 Axis Machining Centers and CNC Multitasking Machining Centers along with Industry 4.0 and Artificial Intelligence (AI) Solutions.
The company has vertically integrated operations which is considered essential to its ability to provide technologically relevant and customized solutions that has helped it garner customers such as Space Applications Centre - ISRO, BrahMos Aerospace Thiruvananthapuram Limited, etc. Jyoti CNC Automation IPO is a book-built issue of Rs 1,000.00 crores. The issue is entirely a fresh issue of 3.02 crore shares. The shares get listed on BSE, NSE on January 16, 2024. Jyoti CNC Automation IPO price band is set at ₹315 to ₹331 per share. The minimum lot size for an application is 45 Shares. Equirus Capital Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jyoti CNC Automation IPO, while Link Intime India Private Ltd is the registrar for the issue.
Objectives of Jyoti CNC Automation IPO
The company proposes to utilize the Net Proceeds from the Fresh Issue towards the following objectives:
- 1. Repayment and/ or prepayment, in full or part, of certain borrowings availed by the company.
- 2. Funding long-term working capital requirements of the company.
- 3. General corporate purposes.
Jyoti CNC Automation IPO Review
After suffering a setback for FY21 and FY22, the company has turned the corner and currently has an order book of Rs. 3315+ cr. on hand. However, based on its FY23 earnings, the issue is priced at a P/E of 501.52 and on annualized FY24 earnings, it is at a P/E of 1103.33. Thus the issue appears exorbitantly priced discounting all near term positives. Only well-informed cash surplus investors may park funds for the long term, while others may ignore, as it is a long race horse.
Jyoti CNC Automation Limited IPO Financial Information
Latest Revenue
510.53
₹ Crore
Profit After Tax
3.35
₹ Crore
Net Worth
205.63
₹ Crore
Total Borrowing
821.40
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 1,706.07 | 510.53 | 3.35 | 205.63 | 821.40 | ||||
| 31 Mar 2023 | 1,515.38 | 952.60 | 15.06 | 36.23 | 834.97 | ||||
| 31 Mar 2022 | 1,286.24 | 750.06 | -48.30 | -29.68 | 792.16 | ||||
| 31 Mar 2021 | 1,388.19 | 590.09 | -70.03 | 18.67 | 725.12 | ||||
| Amount in ₹ Crore | |||||||||
Jyoti CNC Automation Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.35% |
| ROCE | 9.50% |
| Debt/Equity | 10.17 |
| RoNW | 18.35% |
| P/BV | 59.43 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.76 | 0.29 |
| P/E (x) | 433.43 | 1122.83 |
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Competitive Strengths
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Jyoti CNC Automation Limited IPO Timeline
| IPO Open Date | Tuesday, January 9, 2024 |
| IPO Close Date | Thursday, January 11, 2024 |
| Basis of Allotment | Friday, January 12, 2024 |
| Initiation of Refunds | Monday, January 15, 2024 |
| Credit of Shares to Demat | Monday, January 15, 2024 |
| Listing Date | Tuesday, January 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 11, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,895 |
| Retail (Max) | 13 | 585 | ₹193,635 |
| S-HNI (Min) | 14 | 630 | ₹208,530 |
| S-HNI (Max) | 67 | 3,015 | ₹997,965 |
| B-HNI (Min) | 68 | 3,060 | ₹1,012,860 |