Jyoti CNC Automation raises Rs.448-Cr from anchor investors

Jyoti CNC Automation has raised INR 448 crore from anchor investors ahead of the IPO opening today. The company has allocated about 1.35 crore shares to investors at INR 331 apiece, the upper price band for the offer.Participants in the anchor round include Goldman Sachs, Nomura HSBC, Edelweiss, Axis MF, Kota MF, Nippon MF, Canara Robeco MF, and Invesco India.Jyoti CNC Automation is a manufacturer of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting for approximately 10% market share in FY23.In the public offer, about 75% of the offer is reserved for qualified institutional buyers, 10% for retail investors and the rest 15% for non-institutional investors.