JNK India IPO, a book-built issue aiming to raise ₹649.47 crore, opened for subscription on April 23, and is scheduled to close on April 25. The price band for the IPO is set at ₹395 to ₹415 per share, with a minimum lot size of 36 shares, requiring a minimum investment of ₹14,940 from retail investors.

JNK IPO Subscription Status

The JNK India IPO, which opened on April 23, 2024, has seen a subscription status of 0.39 times as of 2:21 pm. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.67 times, while the Non-Institutional Investors (NII) portion saw a subscription of 0.11 times. The Retail Individual Investors (RIIs) portion was subscribed 0.35 times.

The IPO’s allocation structure reserves 20% of the shares for QIBs, 15% for NIIs, 35% for RIIs, and 30% for Anchor investors, ensuring broad participation across investor categories.

JNK IPO GMP

The JNK IPO GMP currently stands at ₹25. With the upper price band of the IPO at ₹415, the stock is expected to list at ₹440, indicating a gain of approximately 6.02% on listing. However, it is crucial to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance upon listing.

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JNK India IPO Details

JNK India intends to use the net proceeds from the IPO for financing working capital requirements and addressing general corporate purposes. The company successfully secured ₹194.84 crores from anchor investors a day before the IPO opening, allocating 46,94,989 equity shares at ₹415 per share.

Notable participants in the anchor round include both foreign and domestic institutions, such as Goldman Sachs, Allianz Global Investors Fund, Natixis International Funds, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Life India, Mirae, DSP Mutual Fund, Edelweiss Trusteeship, LIC Mutual Fund, Bajaj Allianz Life Insurance Company, and Aditya Birla Sun Life Insurance Company.

About JNK India

Established in 2010, JNK India is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. The company has completed projects in various Indian states and globally, including Nigeria and Mexico. As of March 31, 2023, the company has served over 17 clients in India and seven clients overseas.

JNK India IPO Listing

The shares of JNK India are tentatively scheduled to be listed on both the BSE and NSE on Tuesday, April 30, 2024.

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