Jyoti CNC Automation allotment status out; check latest GMP ahead of Tuesday's listing

Jyoti CNC Automation is set to make its Dalal Street debut on Tuesday, January 16, after announcing its allotment status over the weekend. The company is set to become the first mainboard listing of Dalal Street. The grey market premium for Jyoti CNC Automation has corrected sharply since the closure of the issue.

Grey market premium (GMP) of Jyoti CNC Automation has continued to correct, since the closure of the issue, even as broader markets are scaling new highs. Last heard, the company was commanding a premium of Rs 40 45 per share, suggesting a listing pop of 12 15 per cent for the investors. However, it was around Rs 80 100, before the issue opened for bidding.

Jyoti CNC Automation has sold its IPO in the price band of Rs 315 331 apiece with a lot size of 45 shares, which was open for bidding between January 9 to January 11. The company raised a total of Rs 1,000 crore from its primary offering, which entirely included a fresh share sale of more than 3.02 crore equity shares.

The issue was overall subscribed 38.53 times, thanks to strong bidding across all investor categories. The allocation for qualified institutional bidders (QIBs) was booked 44.13 times, while the quota for non institutional investors was subscribed 36.48 times. The portion reserved for retail investors and employees was subscribed 26.17 times and 12.47 times, respectively.

Jyoti CNC Automation is a manufacturer and supplier of CNC machines, which is specialized in a diverse range of CNC machines, offering 200 types across 44 series. CNC machines are computer numerical control machines, which play an important role in the manufacturing industry. Brokerage firms had a mixed view on the issue of Jyoti CNC Automation.

A few suggest to bid for the issue in the longer run citing its strong business and market share, while others suggest to avoid the issue on the back of low profitability, loss making nature of business and mounting debt. SBI Capital Markets, Equirus Capital and ICICI Securities are the book running lead managers of the Jyoti CNC Automation IPO, while Link Intime India is the registrar for the issue.

Shares of the company will be listed on both BSE and NSE, with January 16, Tuesday, as the tentative date of listing. Investors, who bid for the issue of Jyoti CNC Automation, can check the allotment status on the BSE website's IPO application check page. Check in equity, under the issue type and select Jyoti CNC Automation Limited in the dropbox; type in the application number and add the PAN card number before checking in at 'I am not a Robot' before hitting the submit button.

Allotment status can also be checked through the online portal of Link Intime India, the registrar to the issue. Visit the web portal of Link Intime and select the IPO of Jyoti CNC Automation in the dropbox. Enter the either PAN Card number, Application Number or DP Client ID as selected tab and hit 'search' to get the allotment status for your application.

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