Jyoti CNC Automation Limited, one of the world's leading manufacturers of CNC machines with the second and twelfth largest market share, in India and globally, has filed its Draft Red Herring Prospectus ("DRHP") with market regulator Securities and Exchange Board of India ("SEBI").
The Company's initial public offering comprises a fresh issue of Rs 1000 crore.
The company proposes to utilize the net proceeds towards repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company, funding long-term working capital requirements of our Company and general corporate purposes.
Jyoti CNC Automation were the second largest CNC machine manufacturer in India and accounted for approximately 8% of the market share in fiscal 2022. The Company is prominent manufacturer of simultaneous 5-Axis CNC machines in India and are a supplier of one of the most diverse portfolios of CNC machines in India (Source: F&S Report) including CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs), CNC Horizontal Machining Centers (HMCs), simultaneous 3-Axis CNC machining Centers, simultaneous 5-Axis CNC machining Centers and multi-tasking machines. They Company rely on their expertise built over 2 decades of presence and strong R& D capabilities to deliver customised solutions to their customers across diverse set of industries including aerospace and defence, auto and auto components, general engineering, EMS, dies and moulds, and others.
Jyoti CNC Automation have vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions that has helped them garner customers such as Space Applications Centre - ISRO, BrahMos Aerospace Thiruvananthapuram Limited, MBDA, Turkish Aerospace, Uniparts India Limited, AVTEC Limited, Tata Advances System Limited, Tata Sikorsky Aerospace Limited, Bharat Forge Limited, C.R.I. Pumps Private Limited, Kalyani Technoforge Limited, Shakti Pumps (India) Limited, Shreeram Aerospace & Defence LLP, Rolex Rings Limited, Orbit Bearings India Private Limited, Omnitech Engineering Private Limited, Harsha Engineers International Limited, Bosch Limited, HAWE Hydraulics Private Limited, Festo India Private Limited, Elgi Rubber Company Limited, National Fittings Limited, and Aequs Private Limited.
The Company offer over 200 variants across 44 series and during the last 3 Fiscals, the Company has supplied over 7,200 CNC machines to more than 3,000 customers in India and across Asia (excluding India), Europe, North America and rest of the world. Since April 1, 2004, they have supplied over 30,000 CNC machines globally. During the last 3 Fiscals have sold their products in India and 16 other countries across the globe through their principal offices in India, France, Germany, Turkey and Canada. Jyoti CNC Automation sell their products in Romania, France, Poland, Belgium, Italy, and United Kingdom through Huron's established dealer network and also have 29 sales and service centres (including their sales offices located within the precincts of one of their Manufacturing Facilities in Rajkot, Gujrat) spread across 12 states in India.
As of June 30, 2023, Jyoti CNC Automation had an order book of ? 31,430.56 million including an order of ? 2,602.50 million from an entity in the electronics manufacturing services (EMS) industry (as per the end-user industries as specified to us at the time of supply of machines).
Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the Book Running Lead Managers to the issue (BRLMs). The equity shares of the company will be listed on BSE and NSE. |
