Jyoti CNC Automation IPO Day 3 Subscription Status

On the final day of subscription, it has been subscribed 11.87 times its offering size. The IPO received a positive response from retail investors, with all segments fully booked except for Qualified Institutional Buyers (QIB).
Jyoti CNC Automation IPO Day 3 Subscription Status

The Jyoti CNC Automation IPO has seen remarkable subscription numbers throughout its offering period. On the third and final day of subscription, it has been subscribed to 11.87 times its original offering size. This indicates a significant demand for IPO shares among investors.

Retail investors showed substantial interest, with their portion being subscribed to 20.66 times on the third day. Non-institutional investors (NII) also participated actively, subscribing 18.93 times their allocated shares. Qualified Institutional Buyers (QIB) had a 5.45-times subscription rate. Even the employee portion saw strong demand, with a subscription rate of 9.87 times.

The IPO journey began with a subscription rate of 2.52 times on the first day, where the retail portion was fully booked within the first 30 minutes. 

On day 2, the retail portion subscribed 11.08 times, the NII portion 6.49 times, and the QIB portion 22%. 

Day 3 witnessed an even higher subscription rate, especially among retail and NII investors.

Jyoti CNC Automation IPO received bids for 20,82,28,230 shares against the 1,75,39,681 shares on offer. This overwhelming response indicates strong investor confidence in the company.

Jyoti CNC Automation IPO, valued at ₹1,000 crores, consists of a fresh issue with no offer-for-sale component. The company plans to utilize the proceeds for long-term working capital needs, debt repayment, and general corporate purposes. Listing on the stock exchanges is also expected to enhance the company’s visibility and brand image.

The book-running lead managers for the IPO are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited, with Link Intime India Private Ltd. serving as the registrar.

In the grey market, the IPO’s grey market premium (GMP) stands at +44, indicating that investors are willing to pay a premium of ₹44 per share. Considering the upper end of the IPO price band, the estimated listing price is ₹375, which is 13.29% higher than the IPO price of ₹331. This GMP reflects investors’ eagerness to acquire shares at a premium.

The Jyoti CNC Automation IPO has witnessed strong investor interest and is poised for a potentially successful listing.

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