The Initial Public Offer i.e. IPO of JNK India Limited will open for public subscription from today (23 April 2024). The company manufactures heating equipment for process industries such as oil refineries and petrochemical plants. Through this public issue, the company wants to raise ₹649.47 crore by selling a total of 1,60,15,988 shares. Retail investors can invest in JNK India’s IPO till 25 April 2024. The company has fixed the IPO price band at ₹395-₹415 per equity share. The allotment of shares of the company will take place on 26 April 2024. The shares will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on April 30. If you are also planning to invest money in this IPO, then we are telling you how much you can invest in it. What is the minimum and maximum amount that retail investors can invest? For this IPO, retail investors can apply for minimum one lot i.e. 36 shares. If you apply for 1 lot at the upper price band of IPO at ₹415, you will have to invest ₹14,940. Whereas retail investors can bid for a maximum of 13 lots i.e. 468 shares of IPO. For which investors will have to invest a maximum of ₹ 194,220. JNK India’s IPO is a combination of fresh issue and offer for sale. This IPO of JNK India is a combination of fresh issue and offer for sale (OFS). Through the fresh issue, the company will sell 0.76 crore shares worth Rs 300 crore. Whereas the existing shareholders and promoters of the company will sell 0.84 crore shares worth Rs 349.47 crore through OFS. The market capitalization of the company is estimated to be ₹2,300 crore after the issue. Before the issue, the promoters held 94.56% stake in the company. The promoters of the company included Deepak Kachrulal Bharuka, Gautam Rampelli, Arvind Kamat, Milind Joshi, JNK Heaters. Ltd. and mascot capital and marketing pvt. ltd. The promoters hold 94.56% stake in the company before the issue. 35% of the company’s issue has been reserved for retail investors. About 50% of the company’s issue has been reserved for Qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII). In FY23, the company had recorded a revenue of ₹407.32 crore. In FY23, the company had recorded a revenue of ₹407.32 crore, which was more than ₹296.40 crore in the previous year. Its oil and gas segment accounted for 77% of the company’s revenue. The company’s net profit for the financial year stood at ₹46.36 crore, compared to ₹35.98 crore in the previous year. The company’s total debt for the nine months ending 2023 was Rs 56.73 crore. The company’s order book as of December 31, 2023, amounted to ₹845.03 crore, of which 86.29% was from India and 13.71% from overseas. What does JNK India Limited do?
