“Prime Market Sees Activity as Companies Launch IPOs in India”
The primary market is currently witnessing a surge in activity as companies are gearing up to launch Initial Public Offerings (IPOs). In this series, Jyoti CNC Automation Limited, a company specializing in computer numerical control (CNC) machine manufacturing, has applied to the market regulator, the Securities and Exchange Board of India (SEBI), to raise up to 1,000 crore INR through an IPO.
On Friday, the company submitted its Draft Red Herring Prospectus (DRHP). It’s important to note that this IPO will consist entirely of fresh issues and will not include any Offer for Sale (OFS) component.
Jyoti CNC Automation Limited counts ISRO (Indian Space Research Organisation), BrahMos Aerospace Thiruvananthapuram Limited, Turkish Aerospace, Uniparts India Limited, Tata Advanced Systems Limited, and Bosch Limited among its clientele.
The IPO market is currently buzzing with excitement, and investors keen on participating in IPOs will find this news to be promising.
