JNK India IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 20, 2024Let’s have a detailed review of the company and analytics of the JNK India IPO release date, IPO offer price, subscription, JNK India Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 395 to Rs 415 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 36 Shares |
| Listing Date | April 30, 2024 |
| Offer for Sale | Rs 349.47 Crore |
| Fresh Issue | Rs 300.00 Crore |
| IPO Size | Rs 649.47 Crore |
| Tick Size | 1 |
JNK India IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – JNK India Share Price |
JNK India IPO – Summary
They are one of the leading Heating Equipment companies in India in terms of new order booking between Fiscal 2021 to Fiscal 2023 and have capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning process-fired heaters, reformers and cracking furnaces.
They are one of the well-recognized process-fired heater companies in India, having a market share of approximately 27% in the Indian Heating Equipment market, in terms of new order booking in Fiscal 2023.
The Promoter of this company is MASCOT CAPITAL AND MARKETING PRIVATE LIMITED, JNK HEATERS CO. LTD, ARVIND KAMATH, GOUTAM RAMPELLI AND DIPAK KACHARULAL BHARUKA. The lead managers of the issue are IIFL Securities Limited and ICICI Securities Limited, and the Registrar of this issue is Link Intime India Private Limited.
JNK India IPO Date
The opening and closing dates of JNK India IPO are April 23, 2024 and April 23, 2024 respectively.
JNK India IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 23rd Apr | ||||
| 2nd Day -24th Apr | ||||
| 3rd Day – 25th Apr | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
JNK India IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
JNK India Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | April 26, 2024 |
| Refunds Initiation | April 29, 2024 |
| Credit of Shares to Demat Account | April 29, 2024 |
| Share Listing Date | April 30, 2024 |
JNK India IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 395 to Rs 415
JNK India IPO Equity Size
This Initial Public Issue of 16,015,988 Equity Shares of Rs.2 each for cash at a price of Rs 395 to Rs 415 per equity share aggregating to Rs.649.47 Crore.
JNK India IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 7,594,936 Equity Shares of Rs.10/ each.
Issue Size: 16,015,988 Equity Shares of Rs.2 each, aggregating to Rs.649.47 Crore
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JNK India IPO – Live Performance
The listing date of this IPO is April 30, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – JNK India Share Price |
JNK India IPO Grey Market Premium
The JNK India Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
JNK India IPO – Company Overview
In India, they have completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, West Bengal and globally have completed projects in Nigeria and Mexico. Further, they have ongoing projects in Gujarat, Odisha, Haryana, and Rajasthan in India and globally in Oman, Algeria, and Lithuania.
Further, they have successfully completed projects which were based in far-reaching locations, including their projects in India at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria. In recognition of their efforts, they have been accorded incentives by their Customers for early completion of projects in India and overseas.
Further, in March 2022, they were recognised for their safety compliance by one of the private refinery companies of a multinational industrial conglomerate from Nigeria and were awarded a certificate of appreciation towards ‘Safety Compliance and Campaign Performance’.
Also, in November 2022, they were awarded a certificate of appreciation by the same refinery company, for providing four million safe manhours without a lost time incident and recognising their effective contribution towards the installation of process-fired heaters.
JNK India IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 3,377.75 | 2,683.19 | 1,251.24 |
| *Total Revenue | 4,115.45 | 2,971.36 | 1,384.53 |
| Total Expense | 3,488.34 | 2,493.10 | 1,156.49 |
| Profit After Tax | 463.62 | 359.83 | 164.76 |
Earnings per Equity Share (in Million)
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 9.66 | 7.50 | 3.43 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 463.62 Million, Rs. 359.83 Million and Rs. 164.76 Million respectively.
JNK India IPO – Promoters
The Promoter of this company is:
- MASCOT CAPITAL AND MARKETING PRIVATE LIMITED,
- JNK HEATERS CO. LTD,
- ARVIND KAMATH,
- GOUTAM RAMPELLI
- DIPAK KACHARULAL BHARUKA
List of Related Parties (Key Managerial Personnel)
-
Arvind Kamath, Chairperson and Whole Time Director
- Goutam Rampelli, Whole Time Director
- Dipak Kacharulal Bharuka, Whole Time Director and Chief Executive Officer
- Bang Hee Kim, Non-Executive Director
JNK India IPO – Promoters Holding
- Pre-Issue Share Holding – 94.56%
- Post-Issue Share Holding – %
JNK India IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 16,015,988 Equity Shares aggregating up to Rs.6494.70 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue |
48,392,000 Equity Shares
|
| Equity Shares outstanding after the Issue | X Equity Shares |
JNK India IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
-
Funding working capital requirements; and
-
General corporate purposes
JNK India IPO – Business Strategy
- Geographical expansion with a focus on high-growth markets to capitalise on the industry tailwinds
- Enhance their diversified offerings including renewables
- Pursue strategic investment, partnerships and acquisition opportunities and integrate them with their business operations
JNK India IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Market leader of process-fired heaters in India with an established track record
- Well-positioned to capture industry tailwinds through their demonstrated capabilities over time.
- Diversifying product portfolio to cater to varied industries
- Demonstrated financial performance with a robust Order Book reflecting revenue visibility
- Skilled and experienced Promoters and management team with a committed employee base
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
9.66
|
47.71%
|
25.45
|
| 31-Mar-22 |
7.50
|
66.03%
|
15.04
|
| Mar-21 |
3.43
|
56.96%
|
7.67
|
JNK India IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Revenue from Operations (Rs. in Millions) | |
| JNK India Limited | 2 | [●] |
9.66
|
47.71%
|
4,073.02
|
| Listed Peers | |||||
| Thermax Limited | 2 |
62.88
|
39.98
|
12.24%
|
80,898.10
|
JNK India IPO Lead Managers
| Lead Managers |
|
IIFL Securities Limited ICICI Securities Limited |
JNK India IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1stFloor, 247 ParkL.B.S. Marg, Vikhroli West Mumbai 400 083 Maharashtra, India Tel: +918108114949 E-mail:jnkindia.ipo@linkintime.co.in Website: www.linkintime.co.in Investor grievance e-mail:jnkindia.ipo@linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
JNK India IPO – Other Details
- Statutory Auditor – M/s CVK & Associates
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – State Bank of India and HDFC Bank Limited
JNK India IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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JNK India Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
JNK India IPO Review FAQs
Check out various FAQs related to the JNK India IPO:
What is the Issue Size of JNK India IPO?
The Company is making an initial public offer of 16,015,988 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of JNK India IPO?
The price band for this particular IPO ranges between Rs 395 to Rs 415. As far as the face value of the share is concerned, it is Rs. 2 per share.
What is the JNK India IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on April 23, 2024, while the closing date is set at April 25, 2024.
What is the JNK India IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on April 26, 2024, refund initiation is on April 29, 2024, credit of shares is on April 29, 2024, and share listing date is on April 30, 2024.
What is the JNK India IPO Listing Date?
Shares of this company shall be listed in the exchanges on April 30, 2024. The date, when the listing would be done, is stagnant on April 30, 2024.
Who is the Registrar of JNK India IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of JNK India IPO?
Here are the promoters of this IPO – MASCOT CAPITAL AND MARKETING PRIVATE LIMITED, JNK HEATERS CO. LTD, ARVIND KAMATH, GOUTAM RAMPELLI AND DIPAK KACHARULAL BHARUKA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of JNK India IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is JNK India IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of JNK India Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 463.62, 2022 is 359.83, and 2021 is 164.76.
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