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.
Jyoti CNC Automation Ltd files IPO papers with SEBI equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Jyoti CNC Automation Submits DRHP With Sebi businessworld.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessworld.in Daily Mail and Mail on Sunday newspapers.