Check Subscription Status, GMP Today, as JNK India IPO Closes Today

JNK India IPO: Investor reaction to JNK India Ltd.’s initial public offering, which will conclude on April 25, has been mostly subdued. On Thursday, the last day of bidding, at 10:27 am, the Rs 649.47-crore initial public offering (IPO) garnered bids for 1,47,62,052 shares against the 1,09,54,889 shares that were on offer, just 1.35 times the subscription rate.

On April 23, the public may subscribe to the JNK India IPO. The initial public offering (IPO) price of JNK India has been set at Rs 415 per share.

2.11 times as many people subscribed to the non-institutional investor category as to the Retail Individual Investor (RII) component, which received 1.41 times as many subscribers. A 0.67 times subscription was acquired by the QIB category.

April 23 marked the start of the JNK India IPO, which will end on April 25. On April 26, shares will be allocated, and on April 30, the shares will be listed on the BSE and SME.

Today’s JNK India IPO GMP

Market watchers claim that unlisted shares of JNK India Ltd. are selling on the grey market for Rs. 25 more than the company’s issue price. The grey market anticipates a 6.02 per cent listing gain from the public offering, as indicated by the Rs 25 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.

The willingness of investors to pay above the issue price is shown by the “grey market premium.”

Details of JNK India’s IPO

Up to Rs 300 crore in new issues and up to 84,21,052 equity shares in the Offer for Sale (OFS) are part of the Initial Public Offer (IPO).

Promoters Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co Ltd, Mascot Capital and Marketing Pvt Ltd, and shareholder Milind Joshi are the ones selling their shares in the OFS. The offer’s price range is set at Rs 395–415 per share.

JNK India Ltd. said on Monday that it had received Rs 195 crore from anchor investors. The IPO price has been set at Rs 650 crore, which is at the top end of the pricing range.

The offer’s managers are ICICI Securities and IIFL Securities. The proceeds of the new issuance will be used for general company operations and to meet working capital needs.

JNK India is a company that manufactures, supplies, installs, and commissions heating equipment and specializes in thermal planning, engineering, manufacturing, and servicing both local and international markets. Industries include petrochemicals, fertilizers, hydrogen and methanol facilities, and oil and gas refineries use the heating equipment.

It is suggested that the equity shares be listed on the NSE and BSE.