Jyoti CNC Automation makes decent debut, lists at 12.3% premium over IPO Price

Jyoti CNC Automation marked a favorable debut, opening at a 12.3% premium over the IPO price on January 16. The stock commenced trading at Rs 370 on NSE and Rs 372 on BSE, surpassing the issue price of Rs 331.

Analysts’ expectations for the stock’s listing ranged between a 15-18% premium, spanning Rs 380 to Rs 390. Preceding the listing, the stock demonstrated an 11% premium in the grey market—an unofficial ecosystem where shares trade before IPO allotment and persist until the listing day. The grey market premium (GMP) serves as an indicator for investors gauging the potential listing price.