Jyoti CNC Automation Limited’s initial public offering to open on January 09, 2024

• Price Band fixed at ₹ 315 per equity share to ₹ 331 per equity share of the face value of ₹ 2 each (“Equity Shares”) of Jyoti CNC Automation Limited

• Anchor Investor Bidding Date – Monday, January 08, 2024

• Bid /Issue Opening Date – Tuesday, January 09, 2024, and Bid/ Issue Closing Date – Thursday, January 11, 2024

• Bids can be made for a minimum of 45 Equity Shares and in multiples of 45 Equity Shares thereafter.

• A discount of ₹ 15 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.

Bhubaneswar: Jyoti CNC Automation Limited (the “Company”), one of the world’s leading manufacturers of metal cutting computer numerical control (“CNC”) machines with the third largest market share in India in Fiscal 2023 and twelfth largest market share globally in calendar year 2022 (Source: F&S Report), proposes to open its initial public offering of Equity Shares (“Issue”) on Tuesday, January 09, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Issue Opening Date, that is, Monday, January 08, 2024. The Bid/ Issue Closing Date will be Thursday, January 11, 2024.

The Price Band for the Issue has been fixed from ₹ 315 per Equity Share to ₹ 331 per Equity Share. Bids can be made for a minimum of 45 Equity Shares and multiples of 45 Equity Shares thereafter.

The Company’s initial public offering comprises a Fresh Issue of ₹ 10,000.00 million.
The Company proposes to utilize the Net Proceeds towards repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company, funding long-term working capital requirements of the Company, and general corporate purposes.
The Issue is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in accordance with the Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Issue shall be available for allocation on a proportionate basis to qualified institutional buyers (“QIBs”) (such portion referred as “QIB Portion”), provided that the Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to the Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allotment is made to the Anchor Investors (“Anchor Investor Allocation Price”). Further, in the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds (“Mutual Fund Portion”), and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs. Further, not more than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors out of which (a) one-third of such portion shall be reserved for applicants with application size of more than ₹ 0.20 million and up to ₹ 1.00 million; and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹ 1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Investors and not more than 10% of the Net Issue shall be available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Issue through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts, and UPI ID in case of UPI Bidders using UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
The Equity Shares offered through the Red Herring Prospectus dated January 2, 2024 (“RHP”) are proposed to be listed on both the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the Book Running Lead Managers to the Issue.