Unlisted shares of JNK India Ltd are currently trading Rs 85 higher in the grey market, expecting a 20.48 per cent listing gain from the public issue
JNK India IPO Allotment Status: The share allotment of the JNK India IPO, which was open for public subscription between April 23 and April 25, is likely to be finalised today, April 26. Once finalised, investors who have been allotted the IPO will receive debit messages from banks in the evening today. The JNK India IPO allotment status can be checked on registrar Link Intime Pvt Ltd’s portal.
On the closing day of bidding on Thursday, the initial public offer of heating equipment maker JNK India received 28.07 times subscription. The Rs 650-crore initial share sale received bids for 31,10,55,408 shares against 1,10,83,278 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) fetched 75.72 times subscription, while the portion for non institutional investors got subscribed 23.19 times. The quota for Retail Individual Investors (RIIs) received 4.01 times subscription.
The JNK India IPO will be listed on both BSE and NSE on April 30.
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JNK India IPO: How To Check Allotment Status
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘JNK India Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — https://linkintime.co.in/initial_offer/public-issues.html and check the JNK India IPO allotment status.
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JNK India IPO GMP Today
According to market observers, unlisted shares of JNK India Ltd are currently trading Rs 85 higher in the grey market as compared with its issue price. The Rs 85 grey market premium or GMP means the grey market is expecting a 20.48 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Read More: JNK India IPO Subscribed 28.07 Times On Closing Day Of Bidding; Details
About JNK India IPO
The Initial Public Offer (IPO) had a fresh issue of up to Rs 300 crore and an offer for sale of up to 84,21,052 equity shares.
The IPO had a price range of Rs 395-415 a share. The IPO of JNK India received 49 per cent subscription on the first day of bidding on Tuesday.
On Monday, JNK India Ltd said it has garnered Rs 195 crore from anchor investors. Proceeds from the fresh issue will be used for funding working capital requirements and general corporate purposes.
JNK India is engaged in the business of thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets. The heating equipment is required in industries such as oil and gas refineries, petrochemicals, fertilisers, and hydrogen and methanol plants, among others.
IIFL Securities and ICICI Securities are the managers to the offer. The company’s equity shares are proposed to be listed on the BSE and NSE.
