The initial public offering of (IPO) of JNK India Limited will open for public issue on April 23, 2024 looking to raise Rs 649.47 crore.
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JNK India Limited, established in 2010, specialises in designing, manufacturing, supplying, installing, and commissioning process-fired heaters, reformers, and cracking furnaces.
This IPO includes a fresh issue of 76 lakh shares worth Rs 300.00 crore and an offer for sale of 84 lakh shares valued at Rs 349.47 crore.
JNK Limited IPO details
Investors can subscribe to the JNK India IPO starting from April 23, 2024, until April 25, 2024. The allotment of shares is expected to be finalised by Friday, April 26, 2024.
The company plans to list its shares on both the BSE and NSE, with a tentative listing date set for Tuesday, April 30, 2024.
For investors eyeing the IPO, the price band per share is fixed between Rs 395 to Rs 415.
The minimum lot size for the IPO stands at 36 shares, requiring a minimum investment of Rs 14,940 for retail investors. Strategic and non-institutional investors (sNII) need to invest in at least 14 lots (504 shares), amounting to Rs 209,160, while for bNII, it is 67 lots (2,412 shares), totaling Rs 1,000,980.
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IIFL Securities Ltd and ICICI Securities Limited are acting as the book running lead managers for the JNK India IPO, with Link Intime India Private Ltd appointed as the registrar for the issue.
The proceeds from the IPO will be utilised by JNK India for meeting working capital requirements and general corporate purposes.
JNK Limited overview
Established in 2010, JNK India is involved in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces.
The company has executed projects across various Indian states, like Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal. Additionally, it has undertaken projects internationally in countries such as Nigeria and Mexico.
Over the years, JNK India has served more than 17 clients in India and seven overseas, including prominent names like Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited.
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In terms of financial performance, JNK India witnessed a 38.5% increase in revenue and a 28.84% rise in profit after tax (PAT) between the financial years ending on March 31, 2023, and March 31, 2022.
