The scrip was listed at Rs 372, exhibiting a premium of 12.39% to the issue price.
So far, the stock has hit a high of 423.70 and a low of 370.05. On the BSE, over 8.89 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Jyoti CNC Automation was subscribed 38.53 times. The issue opened for bidding on 9 January 2024 and it closed on 11 January 2024. The price band of the IPO was fixed at Rs 315-331 per share.
The offer consisted only of fresh issue of equity shares aggregating to Rs 1,000 crore.
Of the net proceeds from the fresh issue, the company intends to use Rs 475 crore towards repayment and prepayment in part or full of certain borrowings availed of; Rs 360 crore towards funding long-term working capital requirements and ba...
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