Jyoti CNC Automation IPO: All You Need to Know About the Gujarat-based Company’s Upcoming IPO
Jyoti CNC Automation Limited Company is set to launch its IPO soon, offering investors the opportunity to earn big returns in the Indian stock market. The company has submitted documents to SEBI in preparation for the IPO. The IPO will involve the issuance of fresh shares and aims to raise capital of Rs 200 crore through private placement before its launch. The funds raised will be used to repay debt, meet working capital requirements, and support general corporate purposes. Jyoti CNC Automation is a manufacturer of CNC machines and boasts an impressive client list including ISRO, Brahmos Aerospace Thiruvananthapuram Limited, Turkish Aerospace, Uniparts India Limited, Tata Advanced Systems Limited, and Bosch Limited. Equirus Capital, ICICI Securities, and SBI Capital Markets will act as merchant bankers for the IPO. As of June 30, 2023, Jyoti CNC Automation Company’s order book size stood at Rs 3,143.06 crore, and the company was profitable in the financial year 2022-2023, bouncing back from a loss of Rs 48.3 crore the previous year.
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News Title: Jyoti CNC Automation IPO 04 September 2023
