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IPO: JNK India IPO - Detailed Discussion.

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Pradumya

Pradumya

TF Ace
JNK India IPO, a Mainline IPO of ₹649.47 Cr opens for subscription from 23-04-2024 to 25-04-2024. The IPO consists of ₹300.00 Cr fresh issue and ₹349.47 Cr offer for sale.

The face value is Rs 2 and the price band is fixed at 395.00-415.00 per share. You can apply to the JNK India Mainline IPO for a minimum lot of 36 shares amounting of Rs 14940.

More details -

DRHP: https://www.sebi.gov.in/filings/public-issues/aug-2023/jnk-india-limited-drhp_75836.html
RHP: https://nsearchives.nseindia.com/content/ipo/RHP_JNKINDIA.zip
Anchor List: https://reports.chittorgarh.com/anchor-investor/JNKIndia-Anchor-Allocation-Report.pdf
IPO Listing At: BSE, NSE
Retail Quota: Not less than 35.00% of the Offer
IPO Issue Type: Book Build Issue
IPO Issue Size: ₹649.47 Cr
Offer for Sale: ₹349.47 Cr
Fresh Issue: ₹300.00 Cr
Face Value: ₹2 Per Equity Share
IPO Discount: TBD
Promoter Holding Pre IPO: 94.56%

JNK India IPO Timeline (Tentative Schedule)

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
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


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.


What are your thoughts on the IPO?
 
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My View - The anchor list is just decent, out of the 19 names there are 7 Mutual funds which invested for their 11 schemes.
There is no big and renowned names in the anchor list.

QIB subscription figures would be out by 3rd day.
The company has created a niche place in Heating Equipment segment and has been posting growth in its top and bottom lines for the reported periods. It has an order book worth Rs. 845 cr. as of December 31, 2023, that indicates the future prospects. Based on FY24 annualized earnings, the issue appears reasonably priced as per valuation.


I would prefer to avoid this IPO as I particularly don't have expertise in the business this company is in. You may take your own decision as per your understanding and risk profile.
 
Application wise subscription
JNK India (as of 3:30PM 25 April 2024)

Big HNI : 27x
Small HNI : 15x
Retail : 4x

QIB's : 74x (7800 Cr+)

✅ Again easy Allotment in retail
Category

🔸 GMP : 54
 
Allotment Matrix in JNK India IPO

BHNI : 5 out of 26 will get 504 shares

SHNI : 2 out of 28 will get 504 shares

Retail : 5 out of 17 will get 36 shares

GMP 25%+++

Allotment is expected tonight.
 
Akashn said:
Please tag me if you continue to post about upcoming IPO's. I always forget applying for it
Click to expand...
Sure will tag you on the 3rd day of IPO
Btw I am not into sme ipos
If you are interested in them surely check the sme IPOs
There also profit is great
 
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