JNK India, a company that designs and builds heating equipment for industrial use, has announced details for its upcoming Initial Public Offering (IPO). This is the process where a company sells shares of ownership to the public for the first time.
Here are the essential details for investors:
- Price Band: JNK India has set a price range of Rs 395 to Rs 415 per share for the IPO. This means investors will have to pay somewhere between this range to buy the company’s shares.
- Bidding Dates: The IPO will be open for bidding from April 23rd, 2024, and will close on April 25th, 2024. Anchor investors, which are usually big institutions, can put in their bids a day earlier on April 22nd.
- IPO Size: The company aims to raise a total of Rs 649.47 crore through the IPO. This amount is made up of two parts:
- Fresh Issue of Shares: JNK India will be issuing new shares worth Rs 300 crore. This money will be used for the company’s growth plans.
- Offer for Sale (OFS): Existing shareholders of JNK India, including the company’s founders (promoters), will also be selling some of their shares (up to Rs 349.47 crore at the higher end of the price band).
What Does JNK India Do?
Established in 2010, JNK India is based in Thane, Maharashtra. They specialize in designing, manufacturing, and installing industrial heating equipment like process-fired heaters, reformers, and cracking furnaces. These play a crucial role in various industries, helping with processes like refining oil or producing chemicals.
The company has a presence not only in India but also handles projects internationally. They’ve completed projects in several Indian states and have also undertaken work in countries like Nigeria and Mexico. As of March 31st, 2023, JNK India has served over 17 clients in India and 7 clients overseas.
What to Remember as an Investor?
If you’re considering investing in JNK India’s IPO, here are a few things to keep in mind:
- This is the first time JNK India is offering its shares to the public (IPO). There’s no past stock market performance to analyze, so it’s important to carefully assess the company’s financials and future plans.
- The IPO price band provides a range, but the final price at which the shares will be allotted could be different depending on investor demand.
- It’s advisable to consult a financial advisor before making any investment decisions. They can help you understand the risks and potential rewards involved in investing in JNK India’s IPO.
JNK India’s IPO is set to open next week, and the company is looking to raise funds for its future growth. By understanding the details of the IPO and the company’s business, potential investors can make informed decisions about participating in the offering.
