JNK India’s IPO update
Shares from the JNK India IPO are projected to be listed on April 30th. The offering, which commenced on April 23rd, aimed to gather a total of Rs 649.47 crore. JNK India established the price range at Rs 395 to Rs 415 per share and concluded its offering on April 25th.
Before being listed on the bourses, JNK India’s shares were trading at a premium of more than 28% in the grey market. The grey market operates unofficially, facilitating the illegal exchange of company stocks before their official listing on the bourses.
The allocation of the shares was finalized on April 26, with the anticipated listing date set for April 30.
Retail investors were required to subscribe to a minimum of 36 shares, totaling Rs 14,940. For Non-Institutional Investors (NII), the lot size was 14, comprising 504 shares, with an aggregate value of Rs 2,09,160 for small non-institutional bidders. Large non-institutional investors had a lot size of 67, consisting of 2,412 shares, amounting to Rs 10,00,980.
IIFL Securities and ICICI Securities acted as the book-running lead managers for the JNK India IPO.
As Of March 31, 2023, We Have Served 17 Customers In India And Seven Customers Overseas. Further, Seven Out Of The 12 Oil Refining Companies In India, Are Our Customers And We Have Supplied Or Are In The Process Of Supplying Heating Equipment To 11 Of The 24 Operating Oil Refineries Across India.
Since Our Inception, We Have Been Working Closely With JNK Heaters A KOSDAQ Listed Company. The Relationship Between Our Company And JNK Heaters Is Both Independent And Collaborative in Nature.
