JNK India IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: When will JNK India Limited's IPO open for subscription?

The IPO subscription window will open on April 23, 2024 .

Q: When will JNK India Limited list on exchanges?

The listing date for JNK India is Tuesday, April 30, 2024 .

IPO Details

Bidding Dates

22 Apr '24 - 24 Apr '24

Minimum Investment

₹14,940 / 1 Lot ( 36 Shares )

Price Range

₹395 - ₹415

Maximum Investment

₹194,220 / 13 Lot (368 Shares )

Retail Discount

Not Applicable

Issue Size

₹649.47 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

JNK India IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Apr 22, 2024

IPO Closing Date

Apr 24, 2024

Basis of Allotment

Apr 25, 2024

Initiation of Refunds

Apr 28, 2024

Credit of Shares to Demat

Apr 28, 2024

IPO Listing Date

Apr 29, 2024

Cut-off time for UPI mandate confirmation

Apr 24, 2024

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Apr 22, 2024	0.66x	0.26x	0.52x	0.50x
Day 2Apr 23, 2024	0.67x	1.28x	1.17x	1.05x

JNK India IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	0.67
Non-Institutional Buyers	2.40
Retail Investors	1.51
Total	1.46

About JNK India Ltd

JNK India Limited, established in 2010, specialises in the design, production, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. The company has successfully delivered projects across various Indian states including Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal.

Additionally, it has expanded its reach internationally with projects in Nigeria and Mexico. As of March 31, 2023, JNK India Limited boasts a clientele of over 17 domestic customers, including prominent names such as Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited, along with seven international clients.

All products by JNK India Limited are custom-made to meet client specifications and adhere to relevant industry standards. The manufacturing processes are conducted both at their in-house facilities and through external vendors. The company operates a major manufacturing facility within the Multi-Product Special Economic Zone in Mundra, Gujarat.

This facility, dedicated exclusively to exports, spans approximately 20,243 square meters and has an annual manufacturing and modularisation capacity of 5,000 metric tonnes. As of the end of March 2023, JNK India Limited employed 192 permanent staff members.

Industry Outlook:

India's refinery expansion, with 18 projects by 2031 boosting capacity by 124 MMTPA, aims to meet soaring oil demand, driven by transportation and petrochemicals.
With a 10% annual growth in petroleum consumption, India's increasing reliance on oil underlines its pivotal role in the global non-OECD petroleum market.

JNK India Limited IPO Details

JNK India Limited IPO Dates

JNK India IPO is open from April 23, 2024, to April 25, 2024. The IPO will be listed on BSE and NSE.

JNK India Limited IPO Price Band

JNK India is a book-built issue IPO. The price band is set at ₹395 to ₹415 per share.

JNK India Limited IPO Lot Size

The lot size for JNK India Limited’s IPO is 36 shares with a minimum investment of ₹14,940.

JNK India Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Working capital requirements; and
General corporate purposes

Peer Details

The following are the listed peers of JNK India:

Thermax Limited
Bharat Heavy Electricals Limited

How to Check the Allotment Status of the JNK India Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of JNK India Limited IPO

Registered office: Unit No. 203, 204, 205 & 206, Opposite. TMC Office Centrum IT Park, Near Satkar Hotel, Thane -West, Thane 400 604, Maharashtra, India.
Phone: +91-22 6885 8000
E-mail:compliance@jnkindia.com

JNK India Ltd Company Financials

Particulars	9-Month period Ending on December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Revenue from Operations (in ₹ million)	2,533.93	4,073.02	2,963.96	1,377.21
Profit After Tax (PAT) (in ₹ million)	462.11	463.62	359.83	164.76
Cash & Cash Equivalents (in ₹ million)	187.31	153.93	225.19	80.10
Net Worth (in ₹ million)	1,685.61	1,221.70	721.80	368.17
Debt to Equity Ratio(x)	0.40	0.36	0.21	0.32
Return on Equity (%)	31.79%	47.71%	66.03%	56.96%
Return on Capital Employed (RoCE) (%)	34.73%	57.17%	83.25%	71.90%
Diluted Earning Per Share (EPS)-in absolute ₹	9.49	9.51	7.50	3.43

Know before investing

Strengths

JNK India Limited has a commendable track record, having completed diverse projects across India and overseas for 21 domestic and 8 international clients over a decade.
The company holds strong safety and quality recognitions, including certificates for 'Safety Compliance and Campaign Performance' and four million safe man-hours without lost time incidents.
With installations in 11 of India's 24 operating oil refineries, JNK India Limited caters extensively to the oil refining industry, demonstrating significant industry penetration and expertise.
JNK India Limited is strategically positioned to capitalise on industry growth, aiming to meet an estimated annual demand of ₹45,000 million for Heating Equipment from 2024 to 2029.

Risks

JNK India Limited is heavily reliant on contracts from Contracting Customers, particularly JNK Global, which contributed 54.39% to 73.85% of its revenue from FY2021 to FY2023. Any reduction in these contracts could significantly impact its financial stability.
The company faces risks from execution delays and cost overruns in projects, which could lead to variable revenue and adversely affect its financial results and cash flow.
Historical regulatory non-compliances and the inability to locate certain corporate records could subject JNK India Limited to regulatory penalties and damage its reputation.
JNK India Limited does not engage in long-term contracts with raw material suppliers, exposing it to sudden cost increases and supply chain vulnerabilities that could affect operational continuity.