JNK IPO Day 3: Latest GMP, Subscription Status, And More

JNK India IPO aims to raise ₹649.47 crore. The IPO, which opened on April 23, 2024, and is set to close on April 25, 2024, is a book-built issue with a price band of ₹395 to ₹415 per share. The minimum lot size is 36 shares, requiring a minimum investment of ₹14,940 from retail investors.

JNK India IPO Subscription Status

As of 11:04 am, the JNK India IPO has seen a subscription status of 1.46 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.68 times, while the Non-Institutional Investors (NII) portion saw a subscription of 2.38 times. The Retail Individual Investors (RIIs) portion was subscribed 1.49 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 India IPO GMP

The JNK India 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.

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