Jyoti CNC Automation IPO is looking to raise Rs 1,000 crores

Before Market Opens
8 January, 2024

The Jyoti CNC Automation IPO, a book-built issue, aims to raise Rs 1,000 crores through the fresh issue of 3.02 crore shares. The IPO opened for subscription on January 9, 2024, and closed on January 11, 2024, with an expected allotment date of January 12, 2024. It is set to list on both BSE and NSE on January 16, 2024.

The price band for the IPO is ₹315 to ₹331 per share. The minimum lot size for retail investors is 45 shares, requiring a minimum investment of ₹14,895. For sNII, the minimum lot size is 14 lots (630 shares) amounting to ₹208,530, and for bNII, it is 68 lots (3,060 shares) totaling ₹1,012,860. The book running lead managers for this IPO are Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited, with Link Intime India Private Ltd as the registrar.

Jyoti CNC Automation Limited, established in 1991, is an Indian company specializing in the manufacturing and supply of CNC machines. Its range of products includes various types of CNC machining centers and multi-tasking machines. The company serves a broad client base, including ISRO, BrahMos Aerospace, and Tata Advances System. As of June 30, 2023, it had a production capacity of 4,400 machines per year in India and 121 machines per year in France, with an order backlog of ₹31,430.56 million and a total employee count of 2,573.

Financially, Jyoti CNC Automation Limited saw a 27% increase in revenue and a 131.18% rise in profit after tax between the financial year ending March 31, 2023, and March 31, 2022.

24 February, 2024

Byju’s, once heralded as a flagship in India’s edtech sector, is grappling with severe financial and operational challenges, marked by a dramatic valuation drop. The company, which sought to stabilize its operations and finances, is now raising funds at a valuation significantly lower than its peak. This development comes amid efforts to address a substantial debt burden, with Byju’s proposing a repayment plan for its $1.2 billion loan. Investor confidence appears shaken, with some stakeholders pushing for drastic changes in leadership to navigate the crisis effectively. The turmoil reflects broader sectoral pressures and raises questions about the sustainability of high-growth trajectories in the edtech industry

10 February, 2024

Australia’s energy market is witnessing significant transitions and investments aimed at bolstering renewable energy infrastructure and securing gas supplies. Key developments include a $179 million investment by the Queensland Government for community battery projects, Santos’ $5.7 billion gas pipeline project following a legal battle win, and a $206 million energy savings package for NSW households. Additionally, the Australian government has secured new gas supply deals to support the east coast market, emphasizing the role of gas in transitioning to a renewable grid.

India 2024
9 February, 2024

The latest opinion polls, including the Mood of the Nation survey by India Today, predict a comfortable victory for Prime Minister Narendra Modi’s BJP and its allies in the National Democratic Alliance (NDA), with a projected win of 335 Lok Sabha seats in the 2024 general elections. This forecast suggests a slight decrease from the 2019 elections but still ensures a majority. The survey, involving interviews with over 149,000 respondents, reflects Modi’s enduring popularity based on his nationalist policies and economic reforms. Other polls echo these findings, although seat projections vary slightly. The opposition INDIA alliance is expected to secure a significant number of seats, yet not enough to challenge the NDA’s majority. These predictions highlight a political landscape that remains largely favorable to Modi and the BJP as the election approaches