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JNK India IPO is a book built issue of Rs 649.47 crores. The issue is a combination of fresh issue of 0.76 crore shares aggregating to Rs 300.00 crores and offer for sale of 0.84 crore shares aggregating to Rs 349.47 crores.
JNK India IPO bidding started from April 23, 2024 and ended on April 25, 2024. The allotment for JNK India IPO was finalized on Friday, April 26, 2024. The shares got listed on BSE, NSE on April 30, 2024.
JNK India IPO price band is set at ₹395 to ₹415 per share. The minimum lot size for an application is 36 Shares. The minimum amount of investment required by retail investors is ₹14,940. The minimum lot size investment for sNII is 14 lots (504 shares), amounting to ₹209,160, and for bNII, it is 67 lots (2,412 shares), amounting to ₹1,000,980.
Iifl Securities Ltd and ICICI Securities Limited are the book running lead managers of the JNK India IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to JNK India IPO RHP for detailed information.
| IPO Date | April 23, 2024 to April 25, 2024 |
| Listing Date | April 30, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹395 to ₹415 per share |
| Lot Size | 36 Shares |
| Total Issue Size | 16,015,988 shares (aggregating up to ₹649.47 Cr) |
| Fresh Issue | 7,594,936 shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 8,421,052 shares of ₹2 (aggregating up to ₹349.47 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 48,392,000 |
| Share holding post issue | 55,986,936 |
JNK India IPO offers 15,649,878 shares. 3,129,903 (20.00%) to QIB, 2,347,497 (15.00%) to NII, 5,477,489 (35.00%) to RII and 4,694,989 (30.00%) to Anchor investors. 152,152 RIIs will receive minimum 36 shares and 1,552 (sNII) and 3,105 (bNII) will receive minimum 504 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 4,694,989 (30.00%) | NA |
| QIB Shares Offered | 3,129,903 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,347,497 (15.00%) | |
| bNII > ₹10L | 1,564,997 (10.00%) | 3,105 |
| sNII < ₹10L | 782,500 (5.00%) | 1,552 |
| Retail Shares Offered | 5,477,489 (35.00%) | 152,152 |
| Total Shares Offered | 15,649,878 (100%) |
JNK India IPO raises Rs 194.84 crore from anchor investors. JNK India IPO Anchor bid date is April 22, 2024. JNK India IPO Anchor Investors list
| Bid Date | April 22, 2024 |
| Shares Offered | 4,694,989 |
| Anchor Portion Size (In Cr.) | 194.84 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 25, 2024 |
JNK India IPO opens on April 23, 2024, and closes on April 25, 2024.
| IPO Open Date | Tuesday, April 23, 2024 |
| IPO Close Date | Thursday, April 25, 2024 |
| Basis of Allotment | Friday, April 26, 2024 |
| Initiation of Refunds | Monday, April 29, 2024 |
| Credit of Shares to Demat | Monday, April 29, 2024 |
| Listing Date | Tuesday, April 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 25, 2024 |
Investors can bid for a minimum of 36 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,940 |
| Retail (Max) | 13 | 468 | ₹194,220 |
| S-HNI (Min) | 14 | 504 | ₹209,160 |
| S-HNI (Max) | 66 | 2,376 | ₹986,040 |
| B-HNI (Min) | 67 | 2,412 | ₹1,000,980 |
| Lot Size Calculator | |||
| Share Holding Pre Issue | 94.56% |
| Share Holding Post Issue |
JNK India Limited was incorporated in 2010 and is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces.
The company has completed projects in Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal and has implemented projects globally, including in Nigeria and Mexico. As of March 31, 2023, the company has served over 17 clients in India and seven clients overseas. The domestic clients include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited and Numaligarh Refinery Limited.
All products in JNK India Limited are manufactured as per the requirements of the customer and in accordance with the applicable standards. The manufacturing is done at the in-house manufacturing facilities and/or third-party vendors. One of the manufacturing facilities is located in the Multi-Product Special Economic Zone in Mundra, Gujarat, where production is exclusively for export. It is spread over an area of about 20,243 square metres with an installed capacity of 5,000 metric tonnes for manufacturing and modularization per annum.
As of March 31, 2023, the company had 192 permanent employees.
JNK India Limited's revenue increased by 38.5% and profit after tax (PAT) rose by 28.84% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 453.39 | 337.78 | 268.32 | 125.12 |
| Revenue | 256.76 | 411.55 | 297.14 | 138.45 |
| Profit After Tax | 46.21 | 46.36 | 35.98 | 16.48 |
| Net Worth | 168.56 | 122.17 | 72.18 | 36.82 |
| Reserves and Surplus | 158.88 | 112.57 | 62.58 | 36.22 |
| Total Borrowing | 56.73 | 33.76 | 5.99 | 8.95 |
| Amount in ₹ Crore | ||||
The market capitalization of JNK India IPO is Rs 2308.27 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 31.79% |
| ROCE | 34.73% |
| Debt/Equity | 0.34 |
| RoNW | 31.79% |
| P/BV | 11.92 |
| PAT Margin (%) | 18.24 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.58 | 11.08 |
| P/E (x) | 43.32 | 37.46 |
The company intends to use the net proceeds from the issue to finance the following objects:
[Dilip Davda] The company has created a niche place in Heating Equipment segment and has been posting growth in its top and bottom lines for the reported periods. It has an order book worth Rs. 845 cr. as of December 31, 2023, that indicates the future prospects. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may park funds for the medium to long term rewards in this dividend paying company. Read detail review...
The JNK India IPO is subscribed 28.46 times on April 25, 2024 7:02:05 PM. The public issue subscribed 4.20 times in the retail category, 74.40 times in the QIB category, and 23.80 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 74.40 |
| NII | 23.80 |
| bNII (bids above ₹10L) | 27.73 |
| sNII (bids below ₹10L) | 15.94 |
| Retail | 4.20 |
| Total | 28.46 |
Total Application : 421,188 (2.77 times)
| Listing Date | April 30, 2024 |
| BSE Script Code | 544167 |
| NSE Symbol | JNKINDIA |
| ISIN | INE0OAF01028 |
| Final Issue Price | ₹415 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹415.00 |
| ₹620.00 |
| ₹620.00 |
| ₹712.00 |
| ₹693.95 |
| NSE |
|---|
| ₹415.00 |
| ₹621.00 |
| ₹621.00 |
| ₹712.00 |
| ₹694.55 |
JNK India Limited
Unit No. 203, 204, 205 & 206,
Opposite TMC Office Centrum IT Park,
Satkar Hotel, Thane-West, Thane - 400604
Phone: +91-22 6885 8000
Email: compliance@jnkindia.com
Website: http://www.jnkindia.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: jnk.ipo@icicisecurities.com
Website: https://linkintime.co.in/initial_offer/public-issues.html
JNK India IPO is a main-board IPO of 16,015,988 equity shares of the face value of ₹2 aggregating up to ₹649.47 Crores. The issue is priced at ₹395 to ₹415 per share. The minimum order quantity is 36 Shares.
The IPO opens on April 23, 2024, and closes on April 25, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in JNK India IPO using UPI as a payment gateway. Zerodha customers can apply in JNK India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in JNK India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The JNK India IPO opens on April 23, 2024 and closes on April 25, 2024.
JNK India IPO lot size is 36 Shares, and the minimum amount required is ₹14,940.
You can apply in JNK India IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for JNK India IPO will be done on Friday, April 26, 2024, and the allotted shares will be credited to your demat account by Monday, April 29, 2024. Check the JNK India IPO allotment status.
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RHP
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One very interesting bulk deal today in Aspire. Looks like someone from the family, Aruna Agarwal. Though checked for the name in RHP, couldn't find it.
But hints at something big :)