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JNK India Limited is in the business of manufacturing the process fired heaters, reformers and cracking furnaces (together, the Heating Equipment) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. The Company has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning Heating Equipment and cater to both domestic and overseas market. The Indian heating equipment market is closely competed among seven companies with the Company and Thermax Limited being the most prominent and comparable players. Over the years the company has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| 156.5 L | 84.21 L | 54.77 L | 457.6 L | BSE | ₹ 649.47 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 23 Apr, 24 | 25 Apr, 24 | 36 | ₹ 14,220 | Book Building | 30 Apr, 24 |
Details
| Sector | Type |
|---|---|
| Sector | Engineering |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times |
|---|---|
| QIB | 75.72x |
| NII | 23.26x |
| Retail | 4.11x |
| Employee | 0x |
| Total | 28.13x |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 69.39 | 50.52 | 24.22 |
| EBITDA | 75.70 | 53.25 | 25.63 |
| PAT | 46.63 | 35.95 | 16.48 |
| Total Assets | 307.92 | 228.46 | 105.91 |
| Share Capital | 9.60 | 9.60 | 0.60 |
| Total Borrowings | 98.93 | 36.70 | 43.97 |
| Operating Activities (Net Cash) | 52.94 | 38.68 | 17.89 |
| Investing Activities (Net Cash) | 0.11 | 11.07 | 0.00 |
| Financing Activities (Net Cash) | 98.93 | 36.70 | 43.97 |
| Net Cashflow | 46.35 | 25.30 | 11.76 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
JNK India Limited was incorporated as JNK India Private Limited, a private limited company under the Companies Act, 1956 in Thane, Maharashtra, pursuant to a certificate of incorporation dated June 14, 2010, granted by the Registrar of Companies, Maharashtra at Mumbai (RoC). Pursuant to the conversion of the Company from a private limited company into a public limited company and as approved by its Board on April 12, 2023, and a special resolution passed by its Shareholders at the EGM on April 14, 2023, the name of the Company was changed to JNK India Limited, and the RoC issued a fresh certificate of incorporation on May 26, 2023.
India is the third largest oil consumer in the world and the oil demand is expected to reach 11 million barrels per day by calendar year 2045. Demand for Heating Equipment from Indian refineries, petrochemicals and fertilizer (urea) segments between Fiscals 2024 and 2029 is estimated at Rs. 270,890 million i.e., approximately Rs. 45,000 million on an annualized basis. Further, 61%, 37% and 2% of this demand would come from petrochemicals, refineries and fertilizers (urea), respectively. Furthermore, 46%, 24%, 16% and 14% of this demand would come from cracking furnaces, low capital expenditure heaters, high capital expenditure heaters and reformers, respectively.
Peer Comparison:
Strengths
Risk
Strategy
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From the list of open IPOs, select the IPO you want to invest.
Go through the IPO details like lot size, price band, about the company, etc.
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
