JNK India IPO: Is It Worth Subsribing? Check Out This for GMP, Issue Size, and Price Band
JNK India Initial Public Offering (IPO): JNK India’s IPO began accepting subscriptions on April 23 and will end on April 25, 2024. The manufacturer of heating equipment said on Monday that, only one day before its inaugural share-sale opened for public subscription, it had received Rs 195 crore from anchor investors.
A circular posted on the BSE website states that the business has given 19 funds 46.95 lakh equity shares at the top of the pricing range, or Rs 415 a share.
Among the anchor investors are Goldman Sachs, Kotak Mahindra Mutual Fund (MF), Bajaj Allianz Life Insurance Company, Aditya Birla Sun Life Insurance Company, HDFC MF, LIC MF, and DSP MF.
JNK India Initial Public Offering
The IPO consists of an offer for sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder, in addition to a new issuance of equity shares valued up to Rs 300 crore.
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.
Price Band for JNK India’s IPO
Public subscription for the offering, which had a price range of Rs 395–415 per share, began on April 23 and ended on April 25. The IPO price has been set at Rs 650 crore, which is at the top end of the pricing range.
At present, the shares’ GMP (Grey Market Premium) is at Rs 15.
It is crucial to keep in mind that:
The unofficial estimate of the stock price on the unregulated grey market is known as the GMP.
The real listing price on the stock market is not guaranteed by it.
Over the course of the subscription period, GMP may change.
JNK India’s IPO Goals
The proceeds of the new issuance will be used for general company operations and to meet working capital needs.
Concerning JNK India
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 like petrochemicals, fertilizers, hydrogen and methanol facilities, oil and gas refineries, etc. need heating equipment.
The firm has an order book of Rs 845 crore as of December 31, 2023.
The company’s net profit climbed by 29% to Rs 46.36 crore in 2022–2023 from Rs 35.98 crore, while its consolidated income from operations improved by 37.42 percent to Rs 407.30 crore for FY23 from Rs 296.40 crore the previous year.
The public issue’s book-running lead managers are ICICI Securities and IIFL Securities. It is suggested that the equity shares be listed on the NSE and BSE.
JNK India IPO: Is It Worth Subscribing?
Swastika Investment believes that the 43x P/E IPO value is a reasonable price. Investors with a long-term investment may apply for this IPO in light of all these criteria.
observe. Before making a choice, investors had to consider the company’s development potential and value, it said.
