JNK India IPO To Open On 23rd April: Check Price Band, Issue Size & More Details Here

JNK India Limited is a company that manufactures process-fired heaters, reformers, and cracking furnaces (collectively, "Heating Equipment") needed in process industries like fertiliser, petrochemical, and oil and gas refineries. For its initial public offer (IPO), the company has set a price band of Rs 395 to Rs 415 per equity share with a face value of Rs 2.

The issue comprises an offer for sale (OFS) of up to 8,421,052 equity shares from promoter-selling shareholders and individual selling shareholders, in addition to a fresh issuance of Rs 300 Cr.Goutam Rampelli owns up to 1.12 million shares in the OFS, JNK Global has up to 2.43 million shares, Mascot Capital and Marketing has up to 4.4 million shares, and Milind Joshi has up to 4.68 lakh shares who are the part of the OFS segment.

The JNK India IPO is scheduled to open its subscription window on April 23, 2024, and close on April 25, 2024, in accordance with the DRHP. On Friday, April 26, 2024, the allocation of shares for the JNK India IPO is anticipated to be completed. Tuesday, April 30, 2024 has been set as the tentative listing date for the JNK India IPO on the BSE and NSE. Retail investors have to contribute a minimum of Rs 14,940 for subscription, given that the minimum lot size for an application is 36 shares.

The JNK India IPO's book-running lead managers are Iifl Securities Ltd and ICICI Securities Limited, while the issue's registrar is Link Intime India Private Ltd.

JNK India IPO is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation to Qualified Institutional Buyers (QIPs), not less than 15% of the offer shall be available for allocation to Non-Institutional Investors (NIIs) and not less than 35% of the offer shall be available for allocation to retail individual investors, as per the DRHP.

The firm generated revenue of Rs 407.32 crore for FY23, up from Rs 296.40 crore in FY22. Compared to FY22's Rs 35.98 crore, the profit for FY23 was Rs 46.36 crore. It maintained an order book of Rs 8,450.27 million as of December 31, 2023. By December 31, 2023, it had catered to 8 customers internationally and 21 consumers in India. It wrapped up projects throughout India, including Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal. Internationally, it has completed projects in Mexico and Nigeria.

Furthermore, it is now working on projects in Oman, Algeria, Lithuania, and Gujarat, Odisha, Haryana, and Rajasthan in India. Furthermore, it has effectively finished projects in a variety of remote areas, including Lagos, Nigeria; Numaligarh, Assam; Kochi, Kerala; and Barauni, Bihar, in India.