JNK India Limited IPO

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Industrial Products

Listed On: Apr 30, 2024 at ₹ 621.0(NSE)

₹ 14940 /36 Shares

Check Allotment

Price Summary

Last Closing

617.50 (48.8%)

52 Week High

897.25

52 Week Low

550.00

Last Update

22-Nov-2024 3:30 PM

JNK India Limited IPO Details

23 Apr, 2024

Open Date

25 Apr, 2024

Close Date

26 Apr, 2024

Allotment Date

30 Apr, 2024

Listing Date

Issue Price

₹395-415 per equity share

Face Value

₹2 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

621.0(NSE)

Listing Date

2024-04-30

Market Lot

Retail : 36 Shares (₹14,940/-)
S-HNI : 504 Shares (₹2,09,160/-)
B-HNI : 2,412 Shares (₹10,00,980/-)

Lead Manager

Iifl Securities Ltd
ICICI Securities Limited

Issue Size

Total ₹649.47 Cr :
#Fresh Issue : 7,594,936 shares(aggregating up to ₹300.00 Cr) +
#OFS : 8,421,052 shares of ₹2(aggregating up to ₹349.47 Cr)

Retail Portion

35% (Number of Retail Applications: 1,52,152 Approx),
(Number of S-HNI Applications : 1,553 Approx),
(Number of B-HNI Applications : 3,105 Approx)

Subscription

28.13 times

IPO Docs

DRHP RHP ANCHOR

JNK India Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	3,129,903	2,347,497 1,564,997 782,500	5,477,489	10,954,889
Day 1 - 23-04-24 05:00 PM	0.67 x	0.24 0.15 x 0.42 x	0.47 x	0.48 x
Day 2 - 24-04-24 05:00 PM	0.68 x	1.25 1.07 x 1.61 x	1.13 x	1.03 x
Day 3 - 25-04-24 05:00 PM	75.72 x	23.26 27.10 x 15.58 x	4.11 x	28.13 x

Total No. of Applications: 4,21,188 (Approx)

JNK India Limited Valuations

EPS Pre IPO

₹9.58/-

EPS Post IPO

₹11.08/-

P/E Pre IPO

43.32

P/E Post IPO

37.46

RoNW

31.79%

JNK India Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	337.78	268.32	125.12
Revenue	411.55	297.14	138.45
Profit After Tax	46.36	35.98	16.48
Net Worth	122.17	72.18	36.82
Reserves & Surplus	112.57	62.58	36.22
Total Borrowing	33.76	5.99	8.95

About The Company

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.

All products in JNK India Limited are manufactured as per the requirements of the customer and in accordance with the applicable standards. The manufacturing is done at the in-house manufacturing facilities and/or third-party vendors. One of the manufacturing facilities is located in the Multi-Product Special Economic Zone in Mundra, Gujarat, where production is exclusively for export. It is spread over an area of about 20,243 square metres with an installed capacity of 5,000 metric tonnes for manufacturing and modularization per annum.

As of March 31, 2023, the company had 192 permanent employees.

JNK India Limited - Strength and Weakness

Strength

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.

Weakness

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.

JNK India Limited - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
JNK India Limited	11.9	49.79	47.7%	412
Thermax Limited	14.2	104.0	12.3%	8,090
Bharat Heavy Electricals Limited	3.45	N/A	1.7%	23,365

JNK India Limited - Promoter(s)

Pre Issue Share Holding: 94.56%

Post Issue Share Holding: N/A%

Company Promoter(s)

Mascot Capital and Marketing Pvt. Ltd.
JNK Heaters Co. Ltd
Arvind Kamath
Gaoutam Rampelli
Dipak Kacharulal Bharuka

JNK India Limited IPO - Issue Objectives

Working capital requirements
General corporate purposes.

JNK India Limited IPO - Anchor Investors

JNK India IPO: Institutional investors raise Rs 195 crore in anchor book.

Institutional investors including Goldman Sachs, Allianz Global Investors Fund, Natixis International Funds, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Life India, Mirae, DSP Mutual Fund, Edelweiss Trusteeship, LIC Mutual Fund, Bajaj Allianz Life Insurance Company and Aditya Birla Sun Life Insurance Company invested in the company via anchor book.

Other Details

Company Contact Details

JNK India Limited

Unit No. 203, 204, 205 & 206, Opposite TMC Office Centrum IT Park, Thane-West Thane - 400604

Phone: +91-22 6885 8000

Email: compliance@jnkindia.com

Website: http://www.jnkindia.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: jnk.ipo@icicisecurities.com

Website: https://linkintime.co.in/initial_offer/public-issues.html

JNK India Limited IPO - FAQs

Ans. JNK India Limited IPO is a Mainboard IPO. The issue is priced at ₹395-415 per equity share. The minimum order quantity is 36 Shares. The IPO opens on Apr 23, 2024, and closes on Apr 25, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The JNK India Limited IPO opens on Apr 23, 2024 and closes on Apr 25, 2024.

Ans. The size of JNK India Limited IPO is Total ₹649.47 Cr : #Fresh Issue : 7,594,936 shares(aggregating up to ₹300.00 Cr) + #OFS : 8,421,052 shares of ₹2(aggregating up to ₹349.47 Cr).

Ans. The IPO price band is set between ₹395-415 per equity share.

Ans. To apply for JNK India Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find JNK India Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of JNK India Limited IPO is Apr 26, 2024.

Ans. The JNK India Limited IPO will be listed on Apr 30, 2024.

Ans. Follow the steps to check the allotment status for JNK India Limited IPO here.