If you want to put money into a new investment opportunity in 2024, a company from Gujarat called Jyoti CNC Automation is about to start its IPO, which is worth Rs 1000 crore.
This is the first investment opportunity of the year. The company has shared all the important details about this, including the date and the price range.
If you are considering investing, we’ll provide you with all the information you need.
When is IPO opening?
The first IPO of 2024 will start on January 9, 2023, and you can invest money in it until January 11, 2024.
The company decided that the price of each IPO share will be between Rs 315 to Rs 331.
You can buy a set of 45 shares, which is called a “lot.” If you’re a regular investor, you can bid for at least 1 lot (45 shares) and at most 13 lots (585 shares).
This means you can invest a minimum of Rs 14,895 and a maximum of Rs 1,93,635 in this IPO. The company has set the face value of each share at Rs 2.
When will the shares be listed?
The company will give shares to people who signed up on January 12, 2024.
If you didn’t get shares, the money you put in will come back to you on January 15.
The shares will start being traded on BSE and NSE on January 16, 2024. They are making new shares worth Rs 1000 crore in this Jyoti CNC Automation IPO, and none of them are from people selling their existing shares.
For this investment offer, 75% of the shares are set aside for big organizations that invest a lot. 10% is for regular people who want to invest, and 15% is for wealthy individuals.
Additionally, the company kept some shares, valued at Rs 5 crore, especially for its employees, and they get them at a cheaper price of Rs 15 each.
What is the condition of GMP?
The company’s shares look good in the market outside the regular stock exchange.
Right now, they’re at a GMP (Gray Market Premium) of Rs 145 per share on January 4, 2024.
If this keeps up until they officially start trading, the shares might be listed at Rs 476 each, making a profit of 43.81 percent.
What does the company do?
Jyoti CNC Automation makes special machines called CNC machines for different areas like defense, medical, aerospace, and more.
The company also tried to start selling shares to the public back in 2013.
Speaking about how well the company is doing money-wise, it earned a profit of Rs 15.06 crore in the financial year 2022-23.
The company’s business is not just in India; it also operates in other countries.
