Investors have the opportunity to subscribe to the JNK India IPO from April 23, 2024, to April 25, 2024.
JNK India Limited, a company founded in 2010, is planning to go public with an initial public offering (IPO) scheduled to open on April 23, 2024.
They aim to raise Rs 649.47 crore through this IPO.The company specializes in the design, manufacturing, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces.
As part of the IPO, JNK India Limited will offer 76 lakh new shares valued at Rs 300.00 crore for issuance, and existing shareholders will sell 84 lakh shares worth Rs 349.47 crore.
JNK India Limited, a company specializing in designing and manufacturing process-fired heaters and furnaces, is planning to launch its IPO on April 23, 2024, aiming to raise Rs 649.47 crore. Investors can subscribe to the IPO from April 23 to April 25, 2024.
The IPO consists of a fresh issue of 76 lakh shares valued at Rs 300.00 crore and an offer for sale of 84 lakh shares worth Rs 349.47 crore. The price band for each share is set between Rs 395 to Rs 415.
The company intends to list its shares on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) with a tentative listing date of April 30, 2024. For retail investors, the minimum lot size is 36 shares, requiring an investment of at least Rs 14,940. Institutional investors have different minimum requirements based on their category.
IIFL Securities Ltd and ICICI Securities Limited are the book running lead managers for the IPO, and Link Intime India Private Ltd is the registrar for the issue.
JNK India, established in 2010, specializes in designing, manufacturing, supplying, installing, and starting up process-fired heaters, reformers, and cracking furnaces. They have completed projects in various Indian states and in countries like Nigeria and Mexico.
They have worked with over 17 clients in India and seven abroad, including big names like Indian Oil Corporation Limited and Tata Projects Limited. Financially, the company saw a 38.5% increase in revenue and a 28.84% rise in profit after tax between March 31, 2022, and March 31, 2023. The funds raised from the IPO will be used for day-to-day operations and general business needs.