Jyoti CNC Automation is set to launch its Initial Public Offering (IPO), a book-built issue amounting to Rs 1,000.00 crores. The IPO comprises an entirely fresh issue of 3.02 crore shares.
The subscription window for the Jyoti CNC Automation IPO opens on January 9, 2024, and closes on January 11, 2024. The allotment process for the IPO is scheduled to be finalized on Friday, January 12, 2024. Jyoti CNC Automation’s shares are expected to be listed on both BSE and NSE, with the tentative listing date fixed for Tuesday, January 16, 2024.
The IPO price band is established at ₹315 to ₹331 per share, with a minimum lot size of 45 shares for an application. Retail investors are required to invest a minimum amount of ₹14,895. For sNII (Non-Institutional Investors), the minimum lot size is 14 lots (630 shares), requiring an investment of ₹208,530, while for bNII (Qualified Institutional Buyers), it is 68 lots (3,060 shares), amounting to ₹1,012,860.
Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the appointed book running lead managers for the Jyoti CNC Automation IPO. Link Intime India Private Ltd will serve as the registrar for the issue.
Jyoti CNC Automation IPO Timeline
Below are timeline of Jyoti CNC Automation IPO Details
| Event | Date |
|---|---|
| IPO Open Date | 09-Jan-2024 |
| IPO Close Date | 11-Jan-2024 |
| Basis of Allotment | 12-Jan-2024 |
| Initiation of Refunds | 15-Jan-2024 |
| Credit of Shares to Demat | 15-Jan-2024 |
| Listing Date | 16-Jan-2024 |
| Cut-off time for UPI mandate confirmation | 11-Jan-2024, 5 PM |
Jyoti CNC Automation IPO Lot Size
Investors in the retail category are required to bid for a minimum of 45 shares and can bid in multiples of 45, with the corresponding minimum investment amount specified. For HNI (S) investors, the minimum bid is 630 shares, also in multiples of 630, with a defined minimum and maximum investment amount. HNI (B) investors are required to bid for a minimum of 3,060 shares and can bid in multiples of 3,060, with the corresponding minimum investment amount outlined.
| Application | Lots | Shares | 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 |
Jyoti CNC Automation IPO Promoter Holding
The key promoters of the company include Parakramsinh Ghanshyamsinh Jadeja, Sahdevsinh Lalubha Jadeja, Vikramsinh Raghuvirsinh Rana, and Jyoti International LLP. These individuals and entities play a significant role in the management and strategic decisions of the company, contributing to its overall direction and success.
| Shareholding Status | Percentage |
|---|---|
| Pre Issue | 72.66% |
| Post Issue | NA |
About Jyoti CNC Automation Limited
Incorporation Year: January 1991
Overview: Jyoti CNC Automation Limited is a distinguished manufacturer and supplier of CNC (Computer Numerical Control) machines, catering to a global clientele. The company, headquartered in India, specializes in the design, development, and production of an extensive range of CNC machines, contributing to various industries’ precision machining processes.
Product Range: The company’s diverse product portfolio includes:
- CNC turning centres
- CNC turning-milling centres
- CNC vertical machining centres (VMCs)
- CNC horizontal machining centres (HMCs)
- Simultaneous 3-axis CNC machining centres
- Simultaneous 5-axis CNC machining centres
- Multi-tasking machines
Customer Base: Jyoti CNC Automation Limited serves a notable customer base, including renowned entities such as Indian Space Applications Center (ISRO), BrahMos Aerospace Thiruvananthapuram, Turkish Aerospace, Tata group companies, Bharat Forge, Shakti Pumps (India), Rolex Rings, Bosch Limited, and more.
Global Presence: The company has a significant global footprint, delivering its CNC machines to over 3,000 customers worldwide. With 200 types in 44 series, the company has supplied more than 7,200 machines in the last three financial years, reaching markets in India, Europe, North America, and parts of Asia.
Distribution Network: Jyoti CNC Automation Limited utilizes Huron’s established dealer network for global product distribution. Additionally, the company operates 29 sales and service centers across Romania, France, Poland, Belgium, Italy, and the UK.
Manufacturing Facilities: The company boasts three manufacturing facilities, two in Rajkot, Gujarat, India, and one in Strasbourg, France. These facilities are equipped to handle the entire product development lifecycle, including design and manufacturing.
Production Capacity: As of June 30, 2023, the company’s annual production capacity was 4,400 machines in India and 121 machines in France.
Order Backlog: As of June 30, 2023, Jyoti CNC Automation Limited held a substantial order backlog of ₹31,430.56 million, including a significant order of ₹2,602.50 million from an electronic manufacturing services (EMS) company.
Workforce: As of June 30, 2023, the company had a dedicated team of 2,573 employees, contributing to its growth and success in the CNC machine industry.
Company Financial Information
These financial figures represent the company’s performance and financial position over the specified periods. Amounts are in crores of Indian Rupees.
| Financials | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | ₹1,706.07 | ₹1,515.38 | ₹1,286.24 | ₹1,388.19 |
| Revenue | ₹510.53 | ₹952.60 | ₹750.06 | ₹590.09 |
| Profit After Tax | ₹3.35 | ₹15.06 | -₹48.30 | -₹70.03 |
| Net Worth | ₹205.63 | ₹36.23 | -₹29.68 | ₹18.67 |
| Reserves and Surplus | ₹213.33 | ₹49.14 | ₹11.67 | ₹83.11 |
| Total Borrowing | ₹821.40 | ₹834.97 | ₹792.16 | ₹725.12 |
Objects of the Issue
Jyoti CNC Automation Limited intends to utilize the Net Proceeds from the Fresh Issue to achieve the following objectives:
- Repayment and/or Pre-payment of Borrowings:
- The company aims to utilize a portion of the funds raised through the IPO to repay and/or pre-pay specific borrowings availed by the company. This strategic allocation of funds contributes to enhancing the company’s financial health and reducing its debt obligations.
- Funding Long-term Working Capital Requirements:
- Another key objective is to allocate funds towards meeting the long-term working capital requirements of the company. This ensures that Jyoti CNC Automation is well-equipped to sustain and expand its operations over an extended period, supporting its ongoing business activities.
- General Corporate Purposes:
- The company plans to allocate a portion of the Net Proceeds for general corporate purposes. This may include supporting various operational aspects, investing in research and development, and addressing any unforeseen financial needs that contribute to the overall growth and stability of the organization.
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