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Let’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

JNK India IPOThey 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:


    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.[●]
    Net Issue to the Public Up to [●] Equity Shares aggregating up to Rs.[●]
    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.)

    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 [●]
    Listed Peers
    Thermax Limited 2

    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
    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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