Jyoti CNC Automation IPO Day 3 - Should you subscribe? Check Anil Singhvi's view

Jyoti CNC Automation IPO Subscription, Jyoti CNC Automation IPO: This is going to be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE.

Shares of Jyoti CNC Automation are expected to be listed on leading stock exchanges BSE and NSE tentatively on Tuesday, January 16.

Jyoti CNC Automation IPO Subscription, Jyoti CNC Automation IPO: The initial share-sale offer of Jyoti CNC Automation is open for public subscription. This is the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The IPO got subscribed 3.92 times on the second day of bidding on Wednesday. The IPO received bids for 6,87,09,015 shares against 1,75,39,681 shares on offer, as per NSE data.

Jyoti CNC Automation IPO Buy or Not: Anil Singhvi's View

According to Zee Business Managing Editor Anil Singhvi, only risk-taking investors should subscribe to this IPO but not for listing gains.

"If today's market trends remain, there are chances of some listing gains. However, high-risk investors must subscribe for the long-term," Singhvi said.

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Here are some positives and negatives of Jyoti CNC Automation IPO

Positives of Jyoti CNC Automation Company

- Promoters of the company are experienced and they have been in the business for a very long period.

- The company is the third largest player in the industry in India. with over 10 per cent of market share. Also, there is no other listed player.

- The company has a strong order book of Rs 3,300 crore. Strong growth was registered in the order book last year.

- The debt-to-equity ratio (D/E ratio) of the company is not very attractive and the company plans to reduce debt substantially through this IPO.

- Strong growth outlook in the next two to three years.

Negatives of Jyoti CNC Automation Company

- The company has been at a loss for the past three years.

- Higher debt compared with peers

- Weak financials due to poor performance of the French subsidiary. However, business in India is quite good.

- Reasonable valuations.

Jyoti CNC Automation IPO: Subscription dates

The subscription window for the Jyoti CNC Automation IPO will remain open for three days i.e. till January 11. The allotment of shares is expected to be finalised on January 12.

Jyoti CNC Automation shares listing on NSE, BSE

Shares of Jyoti CNC Automation are expected to be listed on leading stock exchanges BSE and NSE tentatively on Tuesday, January 16.

Jyoti CNC Automation Ltd IPO: Price Band and Lot Size

The company has fixed a price band of Rs 315-331 per share for the issue with a face value of Rs 2. The lot size of the IPO is 45 equity shares and in multiples thereof.