JNK India IPO presents a compelling opportunity for investors to participate n the growth story of a leading player in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. Here’s an in-depth analysis of the IPO:
**IPO Highlights:**
– JNK India IPO is a book-built issue consisting of a fresh issue of Rs 300.00 crore and an offer for sale of 0.84 crore shares.
– Subscription period: April 23, 2024, to April 25, 2024.
– Allotment date: Expected on Friday, April 26, 2024.
– Listing Exchange: BSE, NSE
– Price bands: Yet to be announced
– Minimum lot size: To be disclosed
**Key Entities:**
– Book Running Lead Managers: IIFL Securities Ltd and ICICI Securities Limited
– Registrar: Link Intime India Private Ltd
**Reservation Details:**
– 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
**Timeline:**
– IPO opens: April 23, 2024
– IPO closes: April 25, 2024
– Listing Date: Tuesday, April 30, 2024
**Promoter Holding:**
– Promoters: Mascot Capital and Marketing Pvt. Ltd., JNK Heaters Co. Ltd, Arvind Kamath, Gaoutam Rampelli, and Dipak Kacharulal Bharuka
– Pre-Issue Shareholding: 94.56%
**About JNK India Limited:**
– Founded in 2010, JNK India Limited specializes in process-fired heaters, reformers, and cracking furnaces.
– Geographic Presence: The company has executed projects across various states in India and internationally in countries like Nigeria and Mexico.
– Clientele: JNK India has served over 17 clients in India and seven clients overseas, including Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited.
– Manufacturing Facilities: JNK India operates manufacturing facilities, including one in the Multi-Product Special Economic Zone in Mundra, Gujarat, exclusively for exports.
**Financial Performance:**
– Revenue Growth: JNK India witnessed a revenue increase of 38.5% between March 31, 2022, and March 31, 2023.
– Profit After Tax (PAT) Margin: The company achieved a PAT margin of 18.24%.
**Key Performance Indicators:**
– Return on Equity (ROE): 31.79%
– Return on Capital Employed (ROCE): 34.73%
– Debt/Equity Ratio: 0.34
**Objects of the Issue:**
The net proceeds from the IPO will be utilized for:
1. Meeting working capital requirements.
2. General corporate purposes to support ongoing operations and growth initiatives.
Investors are advised to refer to the detailed prospectus, including the RHP, for comprehensive information about the offering and its prospects.
