JNK India IPO is a book built issue. The issue comprises of fresh issue of Rs 300.00 crore and offer for sale of 0.84 crore shares.
JNK India IPO opens for subscription on April 23, 2024 and closes on April 25, 2024. The allotment for the JNK India IPO is expected to be finalized on Friday, April 26, 2024. JNK India IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, April 30, 2024.
JNK India IPO price band is set at ₹395 to ₹415 per share. The minimum lot size for an application is 36 Shares. The minimum amount of investment required by retail investors is ₹14,940. The minimum lot size investment for sNII is 14 lots (504 shares), amounting to ₹209,160, and for bNII, it is 67 lots (2,412 shares), amounting to ₹1,000,980.
JNK India IPO Details
| IPO Date | April 23, 2024 to April 25, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹395 to ₹415 per share |
| Lot Size | 36 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 8,421,052 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 48,392,000 |
JNK India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
JNK India IPO Timeline (Tentative Schedule)
JNK India IPO opens on April 23, 2024, and closes on April 25, 2024.
| IPO Open Date | Tuesday, April 23, 2024 |
| IPO Close Date | Thursday, April 25, 2024 |
| Basis of Allotment | Friday, April 26, 2024 |
| Initiation of Refunds | Monday, April 29, 2024 |
| Credit of Shares to Demat | Monday, April 29, 2024 |
| Listing Date | Tuesday, April 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 25, 2024 |
JNK India IPO Lot Size
Investors can bid for a minimum of 36 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,940 |
| Retail (Max) | 13 | 468 | ₹194,220 |
| S-HNI (Min) | 14 | 504 | ₹209,160 |
| S-HNI (Max) | 66 | 2,376 | ₹986,040 |
| B-HNI (Min) | 67 | 2,412 | ₹1,000,980 |
| Lot Size Calculator | |||
JNK India IPO Promoter Holding
Mascot Capital and Marketing Pvt. Ltd., JNK Heaters Co. Ltd, Arvind Kamath, Gaoutam Rampelli, and Dipak Kacharulal Bharuka are the company’s promoters.
| Share Holding Pre Issue | 94.56% |
| Share Holding Post Issue |
About JNK India Limited
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.
JNK India Limited Financial Information (Restated Consolidated)
JNK India Limited’s revenue increased by 38.5% and profit after tax (PAT) rose by 28.84% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 453.39 | 337.78 | 268.32 | 125.12 |
| Revenue | 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 | ||||
Key Performance Indicator
The market capitalization of JNK India IPO is Rs 0 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 31.79% |
| ROCE | 34.73% |
| Debt/Equity | 0.34 |
| RoNW | 31.79% |
| P/BV | 11.92 |
| PAT Margin (%) | 18.24 |
Check JNK India IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.58 | 0 |
| P/E (x) | 43.32 | 0 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (JNK India IPO Objectives)
The company intends to use the net proceeds from the issue to finance the following objects:
- Working capital requirements; and
- General corporate purposes.
JNK India Limited Contact Details
JNK India Limited
Unit No. 203, 204, 205 & 206,
Opposite TMC Office Centrum IT Park,
Satkar Hotel, Thane-West, Thane – 400604
Phone: +91-22 6885 8000
Email: compliance@jnkindia.com
Website: http://www.jnkindia.com/
JNK India IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: jnk.ipo@icicisecurities.com
Website: https://linkintime.co.in/initial_offer/public-issues.html