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Jyoti CNC IPO is priced in the range of Rs 315-331 per share. The IPO is completely a fresh issue worth Rs 1,000 crore. The share allotment for the IPO will be finalised on January 12 and the listing date is fixed as January 16.

According to various reports, as many as 28 companies have already received a green signal from Sebi to launch their offers, aimed at raising over Rs 30,000 crore. Meanwhile, 36 other companies have submitted their draft IPO papers and are awaiting the regulators approval.

The net proceeds from the upcoming IPO are earmarked for key financial objectives, including the repayment of loans, funding for long-term working capital requirements, and general corporate purposes, , Jyoti CNC Automation, Initial Public Offering (IPO)

The company had filed its draft red herring prospectus (DRHP) with the market regulator in September 2023. The IPO is completely a fresh issue worth Rs 1,000 crore. The price band for the public offer will be announced soon. The share allotment for the IPO will be finalised on January 12 and the listing date is fixed as January 16.

The company proposes to utilise the net proceeds towards repayment and/or pre-payment of some of its loans in full or part, a company release said on Wednesday. The company had availed funding for long-term working capital requirements and general corporate purposes.