Opening day of JNK India IPO is April 23: These are the top ten things to be aware of about the offer

The JNK India IPO’s subscription period began on April 23. The business plans to sell both a new issue and an offer for sale in order to raise Rs 649.47 crore. The IPO price range for each equity share was established by JNK India between Rs 395 and Rs 415. The deadline for placing bids on this issue is April 25.

To fund Rs 300 crore, the business is issuing 7.6 million shares via a new issue, and to earn Rs 349.47 crore, it is offering 8.4 million shares through an offer for sale. A retail bid must consist of at least 36 shares, totaling Rs 14,940.

It is anticipated that the listing will occur on April 30 and the allocation will be finalized on April 26. The company’s shares are scheduled to be listed on the NSE and BSE exchanges. JNK India’s shares were trading on the grey market for 6% more than the issue price on the first day of the offering. Before being listed, shares are traded illegally on a “grey market.”

Working capital needs and other general corporate tasks would be covered by the money obtained, according to JNK India.

Regarding the business, JNK India is involved in the design, production, supply, installation, and commissioning of cracking furnaces, reformers, and process-fired heaters. The clientele of the organization is impressive and includes well-known brands like Rashtirya Chemicals & Fertilizers, Indian Oil Corporation, and Tata Projects. It offers its services not just in Maharashtra, Kerala, and other Indian states, but also in international markets such as Nigeria and Mexico.

Over the last few years, JNK has emerged as one of the major players to take advantage of the impending need for heating equipment to finish the value chain in heaters, reformers, and cracking furnaces. The geographic expansion with an emphasis on high growth markets is necessary to take advantage of the global industry tailwinds. According to the F&S report, 53 refineries are anticipated to be commissioned in 21 countries by CY30, and heating equipment makes up 3.3% of the total capex, which is estimated to be worth $186 billion. “We anticipate an improvement in the order book with new business and better prospects for the fertilizer and oil and gas industries.” The fact that JNK has international parentage and knowledgeable, experienced promoters with expertise in related fields is an additional benefit. Therefore, we advise giving the offer a “Subscribe” rating, according to a Reliance Securities IPO letter.

The JNK India issue’s book-running lead managers were IIFL Securities and ICICI Securities. The issue’s registrant was Link Intime India.