JNK India Ltd IPO
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JNK India Ltd IPO Details
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 |
JNK India Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Engineering |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 29.76x | 7824984 | 232853724 |
| NII | 23.8x | 2347495 | 55879812 |
| Retail | 4.2x | 5477489 | 23032620 |
| Employee | 0x | 0 | 0 |
| Total | 19.92x | 15649967 | 311766156 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
JNK India Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 480.24 | 407.30 | 296.40 |
| EBITDA | 99.17 | 75.70 | 53.25 |
| PAT | 61.74 | 46.63 | 35.95 |
| Total Assets | 473.60 | 307.92 | 228.46 |
| Share Capital | 9.68 | 9.60 | 9.60 |
| Total Borrowings | 191.59 | 98.93 | 36.70 |
| Operating Activities (Net Cash) | 67.36 | 52.94 | 38.68 |
| Investing Activities (Net Cash) | -3.37 | 0.11 | 11.07 |
| Financing Activities (Net Cash) | 191.59 | 98.93 | 36.70 |
| Net Cashflow | 28.85 | 46.35 | 25.30 |
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
About JNK India Ltd
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.
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.
Peer Comparison:
- Thermax Ltd
- Bharat Heavy Electricals Ltd
JNK India Ltd IPO Key Points
Strengths
- Established track record with a diverse customer base.
- Well-positioned to capture industry tailwinds through its demonstrated capabilities over time.
- Diversifying product portfolio to cater to varied industries.
- Demonstrated financial performance with a robust Order Book reflecting revenue visibility for last three Fiscals.
- Skilled and experienced Promoters and management team with committed employee base.
Risk
- The company derives a significant portion of its revenue from orders which are contracted to the company by Contracting Customers, any failure to obtain new contracts may impact its revenue from operations, cash flows and financial conditions materially and adversely.
- The number of orders the company has received in the past, the company current Order Book and its growth rate may not be indicative of the number of orders the company will receive in future. The order wins and any delays in execution of its orders expose it to time and cost overruns and variability in revenue, materially and adversely impacting the company revenue from operations, cash flows and financial conditions.
- The company is unable to trace some of the historical records and there have been certain instances of regulatory non-compliances in the past. Its may be subject to regulatory actions and penalties for any such past or future non- compliance or delays and its business, financial condition and reputation may be adversely affected.
Strategy
- Geographical expansion with focus on high growth markets to capitalise on the industry tailwinds.
- Enhance its diversified offerings including renewables.
- Pursue strategic investment, partnerships and acquisition opportunities and integrate them with its business operations.
- Established track record with a diverse customer base.
- Well-positioned to capture industry tailwinds through its demonstrated capabilities over time.
- Diversifying product portfolio to cater to varied industries.
- Demonstrated financial performance with a robust Order Book reflecting revenue visibility for last three Fiscals.
- Skilled and experienced Promoters and management team with committed employee base.
How To Apply for JNK India Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.