JNK Limited IPO Set to Open Tomorrow: Key Details

In Brief:

- JNK India Limited aims to raise Rs 649.47 crore through its IPO

- Shares are expected to debut on BSE and NSE on April 30, 2024

- Price range per share: Rs 395 to Rs 415

JNK India Limited's IPO launch, promising potential for significant returns, is scheduled for April 23, 2024. The company aims to generate a substantial amount of Rs 649.47 crore through the IPO.

Established in 2010, JNK India Limited stands out in its specialization in the design, production, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. This unique expertise sets it apart in the market.

This IPO comprises a fresh issue of 76 lakh shares valued at Rs 300.00 crore and an offer for sale of 84 lakh shares worth Rs 349.47 crore.

Key Details of JNK Limited IPO:

Investors can participate in the JNK India IPO from April 23 to April 25, 2024. Share allocation is anticipated to be finalized by Friday, April 26, 2024.

The company intends to list its shares on both the BSE and NSE, with a projected listing date of Tuesday, April 30, 2024.

The price band per share for potential investors ranges from Rs 395 to Rs 415.

For retail investors, the lowest lot size is 36 shares, requiring a minimum investment of Rs 14,940. Strategic and non-institutional investors (sNII) must invest in at least 14 lots (504 shares), amounting to Rs 209,160. Meanwhile, bNII has 67 lots (2,412 shares), totaling Rs 1,000,980. This clear breakdown of share allocation allows potential investors to make informed decisions founded on their investment capabilities.

IIFL Securities Ltd and ICICI Securities Limited are the book-running lead managers for the JNK India IPO, with Link Intime India Private Ltd serving as the registrar for the issue.

JNK India will strategically utilize the proceeds from the IPO to fulfill its working capital requirements and for general corporate purposes, ensuring a stable and prosperous future.

Overview of JNK Limited:

Established in 2010, JNK India designs, manufactures, supplies, installs, and commissions process-fired heaters, reformers, and cracking furnaces.

The company has executed projects across various Indian states and internationally in countries such as Nigeria and Mexico.

Over the years, JNK India has built a strong reputation, serving numerous esteemed clients in India and overseas, including Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited.

Over the past years, JNK India has demonstrated impressive financial growth, with a 38.5% increase in revenue and a 28.84% rise in profit after tax (PAT) between the financial years ending on March 31, 2023, and March 31, 2022. This upward trajectory is a testament to the company's strong performance and potential for future success.