JNK India Ltd, the Maharashtra-based company, has set a price range of Rs 395-415 per share for its upcoming IPO. The JNK India IPO comprises fresh shares worth Rs 300 crore. Additionally, it has an offer-for-sale of up to 8.42 million shares by existing shareholders and promoters. Let us take a look at the key details like JNK India IPO price, GMP and key dates.
JNK India IPO| Key Insights
- JNK India’s IPO to open on April 23 with a price band of Rs 395-415 per share.
- The IPO includes a fresh issue of Rs 300 crore and an offer-for-sale of up to 8.42 million shares.
- At the upper price band, the issue size will be Rs 650 crore, valuing JNK India Pvt Ltd at Rs 2,300 crore post-issue.
- Basis of allotment on April 26, refunds on April 29, and listing on exchanges by April 30.
- Proceeds from the IPO’s fresh issue will fund working capital requirements.
JNK India IPO Details and Issue Structure
| Event | Date |
| IPO Opening Date | April 23, 2024 |
| IPO Closing Date | April 25, 2024 |
| Anchor Investor Bidding Date | April 22, 2024 |
| Price Band | Rs 395-415 per share |
| Issue Size (at upper price band) | Rs 650 crore |
| Fresh Issue Amount | Rs 300 crore |
| Offer-for-Sale (OFS) | Up to 8.42 million shares |
| Lead Managers | IIFL Securities, ICICI Securities |
| Post-Issue Market Capitalisation | Rs 2,300 crore |
| Important Post-IPO Dates | |
| Basis of Allotment | April 26, 2024 |
| Refunds and Credit of Equity Shares | April 29, 2024 |
| Listing on Exchanges | April 30, 2024 |
| Financial Highlights | |
| FY23 Revenue | Rs 407.32 crore |
| FY23 Net Profit | Rs 46.36 crore |
| Total Debt (as of 9 months ended 2023) | Rs 56.73 crore |
| Order Book (as of December 31, 2023) | Rs 845.03 crore |
| Order Book Composition (India/Overseas) | 86.29%/13.71% |
| Order Book Visibility (times annualised revenue) | 2.50 times |
The IPO comprises a fresh issue of shares worth Rs 300 crore. This includes an offer-for-sale (OFS) of up to 8.42 million shares by existing shareholders and promoters.
- JNK India IPO Price: The price band for the JNK India IPO is set at Rs 395-415 per share.
- JNK India IPO Date: The JNK India IPO shall open for subscription on April 23, 2024, and will close on April 25, 2024.
- JNK India IPO GMP (Grey Market Premium): The Grey Market Premium (GMP) for the JNK India IPO will provide an indication of demand and sentiment towards the IPO closer to its listing date. However, it has not been revealed yet.
JNK India Pvt Ltd IPO Timeline for Allotment and Listing
The company has scheduled the Basis of allotment for April 26. It will complete refunds and credit of equity shares by April 29. JNK India Pvt Ltd plans to list its stock on exchanges by April 30, adhering to the planned timeline as per the reports.
Utilisation of JNK India IPO Proceeds
The proceeds from the fresh issue will primarily fund the company’s working capital requirements. Leading the issue as managers are IIFL Securities and ICICI Securities.
About JNK India Pvt Ltd
The company specializes in thermal design, engineering, manufacturing, supplying, installing, and commissioning process-fired heaters, reformers, and cracking furnaces.
JNK India is currently the seventh out of India’s 12 oil refining companies.
The company is expanding its capabilities in the renewable energy sector. The current initiatives include onsite hydrogen production and Solar PV-EPC (Engineering, Procurement, and Construction).
It operates both domestically and internationally, competing with Thermax Ltd as its primary rival in India.
Financial Performance and Order Book
For the fiscal year 2022-23, JNK India reported a revenue of Rs 407.32 crore, a substantial increase from Rs 296.40 crore the previous year. The oil and gas segment contributed 77 percent of the total revenue. Net profit for the fiscal year stood at Rs 46.36 crore compared to Rs 35.98 crore in the previous year.
As of December 31, 2023, the company’s order book was valued at Rs 845.03 crore, predominantly from domestic sources (86.29 percent). This included a notable overseas contribution of 13.71 percent.
The company’s recent financial performance and expansion plans into renewable sectors make this IPO significant for potential investors.
Conclusion
JNK India’s IPO pricing announcement signals an important milestone for the company’s growth. It is actually an attractive opportunity for investors willing to invest in renewable energy technologies.
Source– jnkindia.com, moneycontrol.com
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.