Bookbuilding IPO | ₹649 Cr | Listed at BSE, NSE | Tue, Apr 23, 2024 - Thu, Apr 25, 2024
JNK India IPO is a book build issue of ₹649.47 crores. The issue is a combination of fresh issue of 0.72 crore shares aggregating to ₹300.00 crores and offer for sale of 0.84 crore shares aggregating to ₹349.47 crores.
JNK India IPO bidding started from Apr 23, 2024 and ended on Apr 25, 2024. The allotment for JNK India IPO was finalized on Apr 26, 2024. The shares got listed on BSE, NSE on Apr 30, 2024.
JNK India IPO price band is set at ₹415 per share. The lot size for an application is 36. The minimum amount of investment required by an retail is ₹14,940 (36 shares) (based on upper price). The lot size investment for sNII is 14 lots (504 shares), amounting to ₹2,09,160, and for bNII, it is 67 lots (2,412 shares), amounting to ₹10,00,980.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to JNK India IPO RHP for detailed Information.
IPO Open
Tue, Apr 23, 2024
IPO Close
Thu, Apr 25, 2024
Issue Price
₹415 per share
Market Cap (Pre-IPO)
₹2,308.27 Cr
| IPO Date | 23 to 25 Apr, 2024 |
| Listed on | Tue, Apr 30, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹395 to ₹415 |
| Issue Price | ₹415 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,56,49,967 shares (agg. up to ₹649 Cr) |
| Fresh Issue | 72,28,915 shares (agg. up to ₹300 Cr) |
| Offer for Sale | 84,21,052 shares of ₹2 (agg. up to ₹349 Cr) |
| Share Holding Pre Issue | 4,83,92,000 shares |
| Share Holding Post Issue | 5,59,86,936 shares |
| BSE Script Code / NSE Symbol | 544167 / JNKINDIA |
| ISIN | INE0OAF01028 |
JNK India IPO offers total 1,56,49,967 shares. Out of which 78,24,982 (50.00%) allocated to QIB, 31,29,993 (20.00%) allocated to QIB (Ex- Anchor), 23,47,496 (15.00%) allocated to NII 54,77,489 (35.00%) allocated to RII and 46,94,989 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 78,24,982 (50.00%) | NA |
| − Anchor Investor Shares Offered | 46,94,989 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 31,29,993 (20.00%) | NA |
| NII (HNI) Shares Offered | 23,47,496 (15.00%) | NA |
| − bNII > ₹10L | 15,64,997 (10.00%) | 3,105 |
| − sNII < ₹10L | 7,82,499 (5.00%) | 1,552 |
| Retail Shares Offered | 54,77,489 (35.00%) | 1,52,152 |
| Total Shares Offered | 1,56,49,967 (100.00%) |
Investors can bid for a minimum of 36 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,940 |
| Retail (Max) | 13 | 468 | ₹1,94,220 |
| S-HNI (Min) | 14 | 504 | ₹2,09,160 |
| S-HNI (Max) | 66 | 2,376 | ₹9,86,040 |
| B-HNI (Min) | 67 | 2,412 | ₹10,00,980 |
JNK India IPO raises ₹194.84 crore from anchor investors. JNK India IPO Anchor bid date is April 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Apr 22, 2024 |
| Shares Offered | 46,94,989 |
| Anchor Portion (₹ Cr.) | 194.84 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, May 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jul 25, 2024 |
JNK India Limited was incorporated in 2010 and is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces.
The company has completed projects in Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal and has implemented projects globally, including in Nigeria and Mexico. As of March 31, 2023, the company has served over 17 clients in India and seven clients overseas. The domestic clients include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited and Numaligarh Refinery Limited.
All products in JNK India Limited are manufactured as per the requirements of the customer and in accordance with the applicable standards. The manufacturing is done at the in-house manufacturing facilities and/or third-party vendors. One of the manufacturing facilities is located in the Multi-Product Special Economic Zone in Mundra, Gujarat, where production is exclusively for export. It is spread over an area of about 20,243 square metres with an installed capacity of 5,000 metric tonnes for manufacturing and modularization per annum.
As of March 31, 2023, the company had 192 permanent employees.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 453.39 | 337.78 | 268.32 | 125.12 |
| Total Income | 256.76 | 411.55 | 297.14 | 138.45 |
| Profit After Tax | 46.21 | 46.36 | 35.98 | 16.48 |
| NET Worth | 168.56 | 122.17 | 72.18 | 36.82 |
| Reserves and Surplus | 158.88 | 112.57 | 62.58 | 36.22 |
| Total Borrowing | 56.73 | 33.76 | 5.99 | 8.95 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements | 262.69 |
| 2 | General corporate purposes | 17.05 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 31.79% |
| ROCE | 34.73% |
| Debt/Equity | 0.34 |
| RoNW | 31.79% |
| PAT Margin | 18.24% |
| Price to Book Value | 11.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.58 | 11.08 |
| P/E (x) | 43.32 | 37.46 |
| Promoter Holding | 94.56% | |
| Market Cap | ₹2,308.27 Cr. |
The JNK India IPO is subscribed 28.46 times on April 25, 2024 7:02:05 PM (Day 3). The public issue subscribed 4.2 times in the retail category, 74.4 times in the QIB category, and 23.8 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 74.4 | 31,29,903 | 23,28,53,724 |
| NII | 23.8 | 23,47,497 | 5,58,79,812 |
| bNII (bids above ₹10L) | 27.73 | 15,64,997 | 4,34,04,840 |
| sNII (bids below ₹10L) | 15.94 | 7,82,500 | 1,24,74,972 |
| Retail | 4.2 | 54,77,489 | 2,30,32,620 |
| Total | 28.46 | 1,09,54,889 | 31,17,66,156 |
Total Application : 4,21,188
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission) | 19.18 |
| 2 | Brokerage, selling commission, bidding charges, processing fees for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 2.72 |
| 3 | Advertising and marketing expenses for the Offer | 2.94 |
| 4 | Fee payable to the Registrar to the Offer | 0.10 |
| 5 | Fees payable to CVK & Associates, Chartered Accountants, in their capacity as the Statutory Auditor, in respect of the Restated Consolidated Financial Information and the Statement of Possible Special Tax Benefits and the certificates issued by them | 0.34 |
| 6 | Fees payable to Meman Riyazahmed M, Independent Chartered Engineer, in relation to the issuance of the capacity utilisation certificate prepared and issued in connection with the Offer | 0.01 |
| 7 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees, NSDL and CDSL fee and other regulatory expenses, | 3.81 |
| 8 | Printing and stationery expenses | 1.61 |
| 9 | Fees payable to the legal counsels | 4.52 |
| 10 | Miscellaneous | 8.65 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹415.00 | ₹415.00 |
| Open | ₹620.00 | ₹621.00 |
| Low | ₹620.00 | ₹621.00 |
| High | ₹712.00 | ₹712.00 |
| Last Trade | ₹693.95 | ₹694.55 |
Lead Manager Reports
JNK India IPO is a main-board IPO of 1,56,49,967 equity shares of the face value of ₹2 aggregating up to ₹649 Crores. The issue is priced at ₹415 per share. The minimum order quantity is 36.
The IPO opens on Tue, Apr 23, 2024, and closes on Thu, Apr 25, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in JNK India IPO using UPI as a payment gateway. Zerodha customers can apply in JNK India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in JNK India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The JNK India IPO opens on Tue, Apr 23, 2024 and closes on Thu, Apr 25, 2024.
JNK India IPO lot size is 36, and the minimum amount required for application is ₹14,940.
You can apply in JNK India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for JNK India IPO will be done on Friday, April 26, 2024, and the allotted shares will be credited to your demat account by Mon, Apr 29, 2024. Check the JNK India IPO allotment status.
The JNK India IPO listing date is on Tue, Apr 30, 2024.
