The subscription status of the JNK India IPO, as of April 23, 2024, 1:41:06 PM (Day 1), indicates a subscription rate of 0.18 times overall. Among investor categories, the retail segment leads with a subscription rate of 0.33 times, followed by the NII (Non-Institutional Investors) category at 0.09 times. However, the subscription rate remains at 0.00 times for the QIB (Qualified Institutional Buyers) category.
Here’s a detailed breakdown of the subscription status:
– **QIB Category:** The subscription rate in this category stands at 0.00 times, with only 504 shares bid for out of the total 31,29,903 shares offered.
– **NII Category:** Non-Institutional Investors have bid for 2,09,196 shares out of the total 23,47,497 shares offered, resulting in a subscription rate of 0.09 times. Within this category, bids above ₹10L (bNII) have a subscription rate of 0.03 times, while bids below ₹10L (sNII) have a subscription rate of 0.21 times.
– **Retail Category:** Retail investors have shown notable interest, bidding for 17,88,696 shares against the 54,77,489 shares offered, resulting in a subscription rate of 0.33 times.
The total number of shares bid for across all categories amounts to 19,98,396, against the total shares offered of 1,09,54,889. This translates to a total application count of 32,627.
JNK India Limited, established in 2010, specializes in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. The company has a diverse clientele, having completed projects both domestically and internationally, including in Nigeria and Mexico.
With over 17 clients in India and seven clients overseas, including major names like Indian Oil Corporation Limited and Tata Projects Limited, JNK India has established itself as a trusted player in the industry.
The JNK India IPO, valued at Rs 649.47 crores, comprises a combination of a fresh issue of 0.76 crore shares amounting to Rs 300.00 crores and an offer for sale of 0.84 crore shares amounting to Rs 349.47 crores. The IPO is open for subscription from April 23, 2024, to April 25, 2024, with allotment expected to be finalized by Friday, April 26, 2024. Tentatively, the IPO will be listed on both BSE and NSE on Tuesday, April 30, 2024.
The price band for the JNK India IPO is set at ₹395 to ₹415 per share, with a minimum lot size of 36 shares. Retail investors are required to invest a minimum of ₹14,940, while sNII and bNII have different minimum lot size investments.
IIFL Securities Ltd and ICICI Securities Limited are the appointed book running lead managers for the IPO, with Link Intime India Private Ltd serving as the registrar for the issue.
