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Jyoti CNC IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Post Listing Review: The shares of CNC (computer numerical control) machines manufacturer Jyoti CNC Automation listed on the bourses on Tuesday — the first mainboard IPO listing of 2024. The stock listed at a premium of 12.4% at Rs 372 a share on the BSE. It listed at Rs 370 on the NSE, a premium of 11.78% against an issue price of Rs.331.
Jyoti CNC Automation Allotment Status
1.Click below link:
https://www.bseindia.com/investors/appli_check.asp

2. Find ‘Issue Type’ and select ‘Equity’ under it.

3. Select ‘Jyoti CNC Automation Ltd’ in the drop box.

4. Next Enter your Application Number or Permanent Account Number (PAN).

5.Then, press the ‘Search’ option.

6.Your share application status will be on your screen.

What is the latest GMP of Jyoti CNC IPO?   
Premium: Rs. 38
R- Subject to Rate   Rs. 1000 
H-Application Rate Rs. 1300
H-Subject to Rate   Rs.18200 

What are the promoters of Jyoti CNC IPO?   
PARAKRAMSINH GHANSHYAMSINH JADEJA, SAHDEVSINH LALUBHA JADEJA, VIKRAMSINH RAGHUVIRSINH RANA, AND JYOTI INTERNATIONAL LLP are the promoters of the Jyoti CNC Automation.

What are the Objects of Jyoti CNC IPO?

The Issue comprises a Fresh Issue by the Company.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following objects:
1. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company;
2. Funding long-term working capital requirements of the Company; and
3. General corporate purposes

What is the business of Jyoti CNC?

Jyoti CNC Automation is one of the world’s leading manufacturers of CNC machines with the second and twelfth largest market share, in India and globally, respectively. In Fiscal 2022, it was the second largest CNC machine manufacturer in India and accounted for approximately 8% of the market share. It is a prominent manufacturer of simultaneous 5-Axis CNC machines in India and is a supplier of one of the most diverse portfolios of CNC machines in India including CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs), CNC Horizontal Machining Centers (HMCs), simultaneous 3-Axis CNC machining Centers, simultaneous 5-Axis CNC machining Centers and multi-tasking machines. It relies on its expertise built over 2 decades of presence and strong R& D capabilities to deliver customised solutions to its customers across diverse set of industries including aerospace and defence, auto and auto components, general engineering, EMS, dies and moulds, and others.
It offers solutions suited for transitioning towards ‘Industry 4.0’, including its flagship multifunctional solutions package viz. ‘7th Sense’ – which is geared towards automating sophisticated diagnostic and analytical functions enabling seamless management of productivity, health and tool life of the CNC machine. The CNC machines market is expected to grow globally at a CAGR of 9.9% during CY 2023-2027. This growth is expected to be propelled by a growth in the manufacturing industries due to factors such as industrial automation, and integration of computer aided manufacturing. The surge in demand for high precision machinery from various industries including aerospace.

It has vertically integrated operations which it consider 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, , Turkish Aerospace, Uniparts India Limited, AVTEC Limited, Tata Advances System Limited, Tata Sikorsky Aerospace Limited, Bharat Forge Limited, C.R.I. Pumps Private Limited, Kalyani Technoforge Limited, Shakti Pumps (India) Limited, Shreeram Aerospace & Defence LLP, Rolex Rings Limited, Orbit Bearings India Private Limited, Omnitech Engineering Private Limited, Harsha Engineers International Limited, Bosch Limited, HAWE Hydraulics Private Limited, Festo India Private Limited, Elgi Rubber Company Limited, National Fittings Limited, and Aequs Private Limited.

It has been awarded Best Metal Cutting Brands by Economic Times for 5 consecutive years from 2018 to 2022. It offers over 200 variants across 44 series and during the last 3 Fiscals, the Company has supplied over 7,200 CNC machines to more than 3,000 customers in India and across Asia (excluding India), Europe, North America and rest of the world. Since April 1, 2004, it has supplied over 30,000 CNC machines globally. During the last 3 Fiscals it has sold its products in India and 16 other countries across the globe through our principal offices in India, France, Germany, Turkey and Canada. It sells its products in Romania, France, Poland, Belgium, Italy, and United Kingdom through Huron’s established dealer network and also has 29 sales and service centres (including its sales offices located within the precincts of one of its Manufacturing Facilities in Rajkot, Gujrat) spread across 12 states in India. As of June 30, 2023, it had an order book of Rs 31,430.56 million including an order of Rs 2,602.50 million from an entity in the electronics manufacturing services (EMS) industry.

For more information, click www.jyoti.co.in

Jyoti CNC IPO GMP, Particulars & Guidance

Jyoti CNC IPO Details 
IPO opens on  09 January 2024 
IPO closes on  11 January 2024 
Issue Type Book Built Issue IPO
Issue Size 30218650 Sh /Rs 1000 Cr
* Fresh Issue 30218650 Sh /Rs 1000 Cr
* Offer for Sale  – Sh /Rs – Cr
   
Face Value per share: Rs. 2
Price Band  Rs. 315-331
Retail Discount  Rs 0 per share
Employee discount  Rs.15 per share
Retail Lot Size  45 Shares
Listing will at  BSE, NSE
Shares offered in Jyoti CNC? Shares Rs. in Cr
QIB (75 %)  22658610   750
NII (15 %)    4531722   150
RII (10 %)    2870090     95
Employees @ Rs.316     158228 0005
Total Shares  30218650 1000
Retail portion will be oversubscribed by  63780 Forms.
How to apply in Jyoti CNC IPO ? Amount Rs.
Min Retail Application     45 Sh     14895 
Max Retail Application    585 Sh   193635
Small HNI (Min) application    630 Sh   208530
Small HNI (Max) application 3015 Sh   997965
Big HNI Application 3060 Sh 1012860

What is the timetable of Jyoti CNC IPO?
IPO opens on 09 January 2024
IPO Closes on 11 January 2024
IPO Allotment on  12 January2024
Unblocking of ASBA  15 January2024
Credit of Shares 15 January 2024
Listing on 16 January2024
Registered Office of Jyoti CNC
G – 506, Lodhika GIDC, Village Metoda, Rajkot – 360 021, Gujarat, India
Who are the Lead Managers of Jyoti CNC IPO?
Equirus Capital ltd
ICICI Securities Ltd
SBI Capital Markets Ltd
Registrar to IPO
Link Intime India Private Limited

Jyoti CNC IPO Financial & Analytical Ratios
Year Total Income Net Profit EPS RoNW
  Rs. in Cr Rs.in Cr Rs. %
2020-21 580 -70 -4.75 -62
2021-22 750 -48 -3.28 -117
2022-23  929 15.06 1.02 18.35
Book Value of the Share on 31.03.2023 Rs. 5.57    
BV of the Share after the FPO Rs. ?    
Offer Price at Cap Rs.  331    
Jyoti CNC IPO
Ratio Analysis
Price /EPS 324.51
Price/Book Value Ratio 59.42
Price/BV after IPO  ?

How Jyoti CNC IPO compares with the Peers?
Peer Comparison.

As on date of DRHP FV Total  PE
  Rs. Income Ratio of
    Rs. In Cr  
Jyoti CNC 2   929 324.51
Elgi Equipments 1 3041 44.30
Laxmi Machine 10 4719 37.69
Triveni Turbine 1 1248 67.76
TD Power System 2   872 46.66
       
       
       

# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

Jyoti CNC IPO Guidance
This is the much-awaited IPO. There are certain aspects of this IPO which as an investor, you must understand. The company incurred losses in FY21 & FY 22. It has very high debt to equity ratio of 3.25 and debt-service coverage ratio is just 0.70. The company has huge working capital requirements (Rs.642.28Cr) and its market-capitalization to total income is 7.90 times (somewhat on higher side). EV to EBITDA is also at 85.43 times. In spite of above parameters on higher side, the product range (CNC machines) with the second and twelfth largest market share, in India and globally, respectively & the CNC machines market which is expected to grow globally at a CAGR of 9.9% during CY 2023-2027, we have to give second look to this IPO. If we extrapolate the performance for the coming years, the offer price is reasonable and investment in this IPO is attractive. Retail portion is just 10% and if consider net of employee portion, then only Rs. 95 Cr shares are available to retail investors. So?? Huge oversubscription in retail and HNI category is assured/inevitable. Apply with FF.

👉Jyoti CNC IPO Analysis in English @
https://youtu.be/lDFzvv643XQ
👉Jyoti CNC IPO Analysis in Gujarati @
https://youtu.be/UCHM4ovceE4

Quicklinks

Jyoti CNC IPO GMP

Jyoti CNC IPO GMP today details

Jyoti CNC IPO GMP today, Details, Guidance, Subscription Status, allotment

33 Comments on “Jyoti CNC IPO listed @ Rs. 372

  1. janki Vishal, Mumbai

    This portfolio stock. If you have not received allotment, then buy on listing. You will get solid returns in next 6 months. CNC machines sales are expected to be impressive in the coming one year.

    Reply
  2. vanita Mehta, Mumbai

    Lovekesh,

    I expect listing gain of around Rs. 80 for this IPO. So donot sell in premium market, if you receive allotment today.

    Reply
    1. admin Post author

      Apparently the valuation seems to be on higher side. Yet the IPO proceeds will be used to repay most of the debt and it will reduce interest burden and increase net profits. The demand for CNC machines is increasing a fast rate and that may also boost profits. So even at apparently high PE multiple, the IPO can be recommended.

      Reply
  3. Vikas Thakkar, Rajkot

    Made losses in past 2 years. Yet Jyoti CNC is very strnog brand in engineering sector and pride for Rajkot and Gujarat. I must agree.

    Reply
  4. Sarosh Jain, Jaipur

    Admin sir,

    Should I buy 500 shares at current GMP? I am long term investors. Allotment is not expected since HNI and Retail portions are very small.

    Reply
  5. Suresh Doshi, CA MBA, Satara

    @ Milan Kothari,

    I agree with you partly since this company made losses but this was the picture for most of the Capital goods companies. Check financials of Bhel and other companies. All of them are now doing excellently good. Economic cycles do affect such sector-companies.

    Reply
  6. Anuja Sheth, Mumbai

    After sharp rise in grey premium, now it seems to be cooling off. Yet large oversubscription is sure. Chanakya has rightly suggested Apply with full force. After ovesubscription, GMP will again move up sharply I believe.

    Reply
  7. Aarav

    I am employee of this company,we recently dispatched 200 machines to TATA technology it’s small qty.do not think we don’t have work, company paid the salary during lockdown also,not like others.huge order we are going to complete in next few months.pendamic effect you see during past years in report.

    Reply
  8. milan kothari

    I am from Rajkot n i was see company very closely so according to my opinion jyoti CNC company is not impressive, also financially very poor, n also ipo is very expensive.so AVOID this IPO.

    Reply
  9. Durai Sebastin

    JYOTI CNC CNC Automation buy one France company that name HURON THAT COST Around 850 cr that why past years they have 3200 cr order now

    Reply
  10. V P. Unnad, Bangalore

    Friends, Accumulate, Yes Bank. Strong technical breakout seen. Fast bucks possible on this counter.

    Reply
  11. Sonu Sud, Delhi

    Rs. 1000 crore IPO is relatively very small. So bumper subscriptions possible accumulate 500 shares first on Day 1 of grey market activity.

    Reply
  12. Uttam Singh, New Delhi

    Last budget is due and so before budget day,most of the IPOs will tap capital market. Be ready with large funds.

    Reply
  13. Sripal Shah, Navsari

    IPO expected in second week of January.
    Rajkot based compay. Huge grey market activity expected.

    Reply
  14. Sushil Mehta, Mumbai

    Rajkot company, solid activity in the grey market. I think one must buy 500 shares on the first day of premium-trade

    Reply
  15. Sanjana Shah, Ahmedabad

    The company is very old and yet its book value is Rs. 5.57? how It is possible? It appears the promoters took away bumper bonus shares.

    Reply
  16. Amit Jhaveri, Mumbai

    Book value is just Rs. 5.57. So offer price will not high and because of small offer price, grey market may show large volumes.

    Reply
  17. Bobby Bhandari, Mumbai

    This is Rajkot based company and I have observed Rajkot-company show huge activity in premium market. So Chances are high that even Jyoti counter witness such trends.

    Reply
  18. janki Vishal, Mumbai

    Sir, I donot agree with data on peer comparison. Elgi and TD power, Triveni have different product range and cannot be compared with Jyoti CNC. This company manufactures something different.

    Reply
  19. Popat Manek, Mumbai

    I donot agree with the management, Equity is always costly and long term burden on the company. When the company has such product range, why it intends to use IPO funds to retire debt?

    Reply
  20. Karkhnawala, Surat

    Your information on company business is very elaborate and useful. No other site provide such detailed report. Every piece of information is well researched and organized.

    Reply
  21. Vijay Sahani, Jaipur

    The company has impressive list of its customers. I donot understand why it made losses in earlier years.

    Reply
  22. Dr. Subodh, Ahmedabad

    Your IPO pages is highly informative and well researched. I like your peer comparison and analytical ratios.

    Reply

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