Investors Clamor for Jyoti CNC Automation IPO on Opening Day

Jyoti CNC Automation Limited’s initial public offering (IPO) has attracted huge investor interest, with the Rs 1,000 crore offering fully subscribed within hours of opening bids on January 9th.

The enthusiasm was evidenced by surging grey market premiums, an indicator of expected listing prices. By the end of the first day, Jyoti CNC’s shares were trading at a 29% premium over the IPO issue price of Rs 331, implying an expected listing price of Rs 426 per share.

The oversubscribed IPO reflects positive investor sentiments toward Jyoti CNC Automation, a leading manufacturer of computer numerical control (CNC) machines. With strong financials and robust growth prospects in the automation industry, the company has garnered significant interest ahead of its market debut.

The final subscription numbers and allotment details are awaited, but the opening day response suggests a successful IPO for the automation company. Analysts say Jyoti CNC’s shares could see further upside when they begin public trading later this month.