Stay updated with breaking news from Ipo Proceeds. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Government plans to sell 15% stake in Bharti Hexacom in multiple tranches, with TCIL set to benefit from the IPO proceeds. The telecom sector's growth potential and investor confidence are driving interest in the stake sale strategy.
Jyoti CNC Automation, the third largest CNC manufacturer, has a robust order book and the growth of manufacturing industries, supported by government initiatives like Atmanirbhar Bharat and PLI schemes, indicate sustainable profitability for the next five to seven years. Despite being richly priced, Jyoti CNC Automation expects significant growth in the coming year. The company's major growth sectors are aerospace and defence, as well as electronic manufacturing services.
“The primary issue is for Rs 400 crore and out of this, we would be using Rs 115 crore for the future augmented working capital and Rs 133 crore with respect to retiring the existing debt. Apart from this Rs 400 crore primary issue, there is a OFS of about 8 million shares at a higher price band. This would be around Rs 240 crores and so the total issue size at the cap would be around Rs 640 crore.”
Most of the amendments pertaining to price bands, manner of using issue proceeds, sale of shares post listing is aimed at start-up IPOs.