JNK India IPO opens today: GMP, subscription status, review, price, other details. Apply or not?

JNK India IPO subscription standing

By 1:27 PM on day one in every of bidding, the general public problem was booked 0.17 occasions whereas the retail portion of the general public supply was subscribed 0.31 occasions. The NII section of the mainboard IPO was subscribed 0.08 occasions.

Necessary JNK India IPO particulars

1] JNK India IPO GMP: Shares of the corporate can be found at a premium of ₹15 within the gray market right now, say market observers.

2] JNK India IPO worth: The corporate has fastened the worth band of this public problem at ₹395 to ₹415 per fairness share.

3] JNK India IPO date: The mainboard problem has opened right now and can stay open until twenty fifth April 2024.

4] JNK India IPO dimension: The corporate goals to boost ₹349.47 crore from its preliminary supply out of which ₹300 crore is aimed via the issuance of contemporary shares.

5] JNK India IPO lot dimension: A bidder will be capable of apply in tons and one lot of the ebook construct problem includes 36 firm shares.

6] JNK India IPO allotment date: The most certainly JNK India IPO allotment date is twenty sixth April 2024.

7] JNK India IPO registrar: Hyperlink Intime India Personal Restricted has been appointed because the official registrar of JNK India IPO.

8] JNK India IPO itemizing: The ebook construct problem is proposed for itemizing on BSE and NSE.

9] JNK India IPO itemizing date: The ebook construct problem is most certainly to be listed on BSE and NSE on thirtieth April 2024.

JNK India IPO: Apply or not?

10] JNK India IPO evaluation: On whether or not the difficulty is nice or dangerous for the first market buyers, Arihant Capital report mentioned, “: JNK India has a powerful place within the heating tools market, with a concentrate on various choices and order ebook stood at INR 8,450mn as of Q3FY24 exhibits potential income visibility. The corporate’s development potential is underscored by growing demand from India’s refinery, petrochemical, and fertilizer sectors, in addition to its enlargement into world markets. Excessive entry limitations and a strategic emphasis on capitalizing on world refinery expansions additional solidify its funding attraction. With a observe report of spectacular income development and clear income visibility, JNK India presents a compelling alternative for buyers searching for publicity to the heating tools sector. On the higher band of INR 415, the difficulty is valued at an EV/EBITDA of 33.5x primarily based on FY23 EBITDA of INR 693 Mn and P/E of 43.6x primarily based on FY23 EPS of INR 9.5. We’re recommending “Subscribe for Lengthy Time period” for this problem.”

Giving a ‘subscribe’ tag to the general public problem, Nirmal Bang mentioned, “JNK is properly positioned to capitalize on the World in addition to Indian capex unfolding within the oil and gasoline, petrochemicals and fertilizer industries. With the heating tools business having restricted gamers attributable to excessive entry limitations, JNK has been in a position to command sturdy EBITDA margins of 17% and generate ROCE of 40% in FY23. JNK has delivered development and return ratios that are superior to comparable corporations whereas its valuation is on the decrease finish of the vary. Based mostly on the beneficial business construction with restricted competitors and a powerful pipeline of orders, we’re optimistic on JNK and advocate to Subscribe to the IPO.”

Aside from this, Selection Broking, InCred Equities, Reliance Securities, and Swastika Investmart have additionally given a ‘purchase’ tag to this ebook construct problem.

JNK India IPO anchor buyers

The ebook construct problem has garnered Rs. 194.84 crores from anchor buyers forward of its preliminary public providing that opens for public subscription on Tuesday, April 23, 2024. The corporate knowledgeable the bourses that it allotted 46,94,989 fairness shares at ₹415 per share on Monday, April 22, 2024, to anchor buyers.

Overseas and Home Establishments who participated within the anchor had been Goldman Sachs, Kotak MF, HDFC MF, Nippon MF, Mirae Asset fund, DSP, LIC MF, Bajaj Allianz Life Insurance coverage and Aditya Birla SunLife Insurance coverage.

Disclaimer: The views and suggestions made above are these of particular person analysts or broking corporations, and never of Mint. We advise buyers to test with licensed consultants earlier than making any funding choices.

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Printed: 23 Apr 2024, 08:51 AM IST