JNK India IPO day 3: check latest subscription details and other key details
Upstox
3 min read • Updated: April 25, 2024, 2:06 PM
Summary
The three-day subscription period for the ₹650-crore initial public offering of JNK India Limited is open form April 23 to April 25. JNK India IPO allotment status is expected to be finalised on April 26.
JNK India IPO was fully subscribed on the third and final day of bidding so far on Thursday, April 25. The strong demand from non-institutional investors (NIIs) and the retail applicants helped the public issue to get subscribed 5.26 times.
The initial public offer received bids for more than 5.8 crore shares compared to 1.1 crore shares on offer, until 2:00 pm on Thursday, the NSE data showed.
The qualified institutional buyers’ (QIBs) portion was booked over 11 times with biddings for 3.4 crore shares compared to over 30.75 lakh shares reserved for the category. The NII segment saw highest demand with 5.6 times subscription as the investors applied for 1.3 crore lakh shares against 24.02 lakh shares on offer for them.
The retail portion of the IPO was also fully subscribed as the bidders submitted applications for 1.14 crore shares against 56.05 lakh shares on offer for the category, as per the NSE data.
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JNK India Limited IPO price band, issue size and other details
The JNK India IPO, worth ₹649.47 crore, consists of a fresh issue of 76 lakh shares worth ₹300 crore and an offer-for-sale (OFS) of 84 lakh shares worth ₹349.47 crore.
JNK India Limited IPO price band has been set at ₹395 to ₹415 per share, with a minimum lot size of 36 shares. Retail investors need to invest a minimum amount of ₹14,940.
IIFL Securities Ltd and ICICI Securities Limited serve as the book running lead managers, with Link Intime India Private Ltd acting as the registrar for the issue.
JNK India Limited IPO dates
The JNK India Limited IPO subscription window is open from April 23 to April 25. The basis of allotment of the JNK India Limited IPO is scheduled to be determined on April 26, with the initiation of refunds and crediting of shares to demat accounts expected on April 29.
JNK India IPO share listing on both BSE and NSE is tentatively scheduled on April 30.
About JNK India Ltd
Established in 2010, JNK India Limited specialises in manufacturing process-fired heaters, reformers, and cracking furnaces, collectively known as heating equipment, crucial for process industries such as oil and gas refineries, petrochemical, and fertiliser. The company’s promoters are Arvind Kamath, Goutam Rampelli, Dipak Kacharulal Bharuka, Mascot Capital and JNK Global.
Its registered office is in Thane, Maharashtra. JNK India Limited caters to both domestic and international markets, executing projects across various states, including Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal. Additionally, the company has undertaken projects globally, especially in Nigeria and Mexico.