๐ Jyoti CNC IPO: Shares Make a Strong Debut, Investors Earn Huge Profits
๐ Jyoti CNC Automation, a leading manufacturer of metal-cutting computer numerical control machines, made its debut on the stock market on Tuesday, January 16. The shares opened at a premium of 11.8% at Rs. 370. Since then, the stock has witnessed a bumper rally.
๐ฐ Investors have reaped huge profits on the first day of trading, as the company’s shares are currently trading at Rs. 410, a premium of over 24% from the IPO price. Market experts are attributing this surge in the share price to the positive response from investors.
๐ Prior to the listing, Jyoti CNC Automation shares were trading on the grey market at a premium of Rs. 41. Considering this, the company was expected to list at a premium of 12% above the upper price band of Rs. 331. The actual listing premium has surpassed expectations.
๐ The IPO of Jyoti CNC Automation received an overwhelming response from investors, with a subscription of over 38.5 times the number of shares offered. This indicates strong investor confidence in the company’s prospects.
๐ผ The company plans to utilize the funds raised through the IPO for various purposes, including repayment of debts, long-term working capital requirements, and general corporate objectives.
๐ Jyoti CNC Automation is among the world’s leading manufacturers of metal-cutting CNC machines. It holds a 10% market share in India, making it the third-largest player in the domestic market.
๐ The IPO of Jyoti CNC Automation opened on Tuesday, January 9, and investors had the opportunity to invest in the company until January 11, 2024. The IPO price ranged from Rs. 315 to Rs. 331.
๐ผ Listing of IBL Finance IPO
๐ IBL Finance, a leading financial institution, made a splendid entry on the NSE’s SME platform on Tuesday, January 16. The shares, which were issued at a price of Rs. 51, opened at Rs. 56.
๐ Investors who participated in the IPO have earned a listing gain of 9.80%. Since the listing, the stock has witnessed a continuous upward momentum.
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