JNK India IPO will open on April 23 to raise Rs 649.47 crore through a combination of fresh issue and offer for sale. The company has kept the IPO price band for the issue between the range of Rs 395 to Rs 415 per equity share. JNK India IPO will close on April 25.
JNK India is offering 7.6 million shares of the company via fresh issue, while 8.4 million shares by offer for sale.
It is expected that the allotment will be finalised by April 26 and the listing on April 30. The company will be listed on both NSE and BSE. In the grey market, the company’s stocks were not seeing any kind of attraction, they were neither having a premium nor a discount.
A retail investor needs to apply for a minimum of 36 shares aggregating to Rs 14,940.
About the company, JNK India is in the business of designing, manufacturing, supplying, installing, and commissioning process-fired heaters, reformers, and cracking furnaces. The company’s client book includes names such as Indian Oil Corporation, Tata Projects, Rashtirya Chemicals & Fertilisers, etc. It not just only provides its services in Maharashtra, Kerala, and other states of India but also in global markets like Nigeria and Mexico.
IIFL Securities and ICICI Securities are the book-running lead managers to the issue of JNK India. Link Intime India is working as the registrar for the issue.
