JNK India Ltd

The scrip was listed at Rs 620, exhibiting a premium of 49.4% to the issue price.

So far, the stock has hit a high of 674.40 and a low of 620. On the BSE, over 4.18 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of JNK India was subscribed 28.13 times. The issue opened for bidding on 23 April 2024 and closed on 25 April 2024. The price band of the IPO was fixed at Rs 395 to Rs 415 per share.

The offer comprised of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.

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The equity shares of JNK India (Scrip Code: 544167) are listed effective 30 April 2024 and admitted to dealings on the Exchange in the list of ''B'' Group Securities.

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The initial public offer (IPO) of JNK India received 31,17,66,156 bids for shares as against 1,10,83,278 shares on offer. The issue was subscribed 28.13 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 75.72 times. The Non Institutional Investors (NIIs) category was subscribed 23.26 times. The Retail Individual Investors (RIIs) category was subscribed 4.11 times.

The issue opened for bidding on 23 April 2024 and closed on 25 April 2024. The price band of the IPO was fixed at Rs 395 to Rs 415 per share.

The offer comprised of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

Ahead of the IPO, JNK India on 22 April 2024 raised Rs 194.84 crore from anchor investors. The board allotted 46.94 lakh shares at Rs 415 each to 19 anchor investors.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.

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The initial public offer (IPO) of JNK India received 31,10,55,912 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 17:30 IST on Thursday (25 April 2024). The issue was subscribed 28.07 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

The offer comprises of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

Ahead of the IPO, JNK India on Monday, 22 April 2024 raised Rs 194.84 crore from anchor investors. The board allotted 46.94 lakh shares at Rs 415 each to 19 anchor investors.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.

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The initial public offer (IPO) of JNK India received 1,14,14,556 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (24 April 2024). The issue was subscribed 1.03 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

The offer comprises of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

Ahead of the IPO, JNK India on Monday, 22 April 2024 raised Rs 194.84 crore from anchor investors. The board allotted 46.94 lakh shares at Rs 415 each to 19 anchor investors.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.

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The initial public offer (IPO) of JNK India received 53,86,212 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (23 April 2024). The issue was subscribed to 0.49 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

The offer comprises of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

Ahead of the IPO, JNK India on Monday, 22 April 2024 raised Rs 194.84 crore from anchor investors. The board allotted 46.94 lakh shares at Rs 415 each to 19 anchor investors.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.

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The headline indices traded continued to trade with moderate gains in mid-morning trade. The Nifty traded around 22,400 level. FMCG shares witnessed buying demand for the third day in a row.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 211.73 points or 0.29% to 73,848.75. The Nifty 50 index added 61 points or 0.27% to 22,397.40.

In the broader market, The S&P BSE Mid-Cap index rose 0.36% and the S&P BSE Small-Cap index added 0.86%.

The market breadth was strong. On the BSE, 2,381 shares rose and 1,219 shares fell. A total of 134 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 18.99% to 10.29. Volatility zoomed as traders roll over their positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts will expire on Thursday, 25 April 2024.

Economy:

Rising from 61.8 in March to 62.2 in April, the headline HSBC Flash India Composite PMI Output Index – a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors – indicated the fastest rate of increase in aggregate business activity since mid-2010. Survey participants overwhelmingly attributed the expansion to buoyant demand from domestic and external clients.

Growth in India remained broad-based across the manufacturing and service sectors. The former saw the sharper rate of increase, albeit one that was softer than in March. In the service economy, business activity rose to the greatest extent in three months.

IPO Update:

The initial public offer (IPO) of JNK India received 6,41,772 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 11:25 IST on Tuesday (23 April 2024). The issue was subscribed 0.06 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Buzzing Index:

The Nifty FMCG index rose 0.60% to 53,819.95. The index rallied 1.88% in three consecutive trading sessions.

Hindustan Unilever (up 0.93%), Varun Beverages (up 0.89%), Marico (up 0.88%), ITC (up 0.79%), Balrampur Chini Mills (up 0.75%), Colgate-Palmolive (India) (up 0.62%), Dabur India (up 0.61%), Nestle India (up 0.46%) and Godrej Consumer Products (up 0.28%) advanced.

On the other hand, Tata Consumer Products (down 1.29%), United Spirits (down 0.68%) and Radico Khaitan (down 0.67%) edged lower.

Stocks in Spotlight:

Hatsun Agro Product rallied 11.71% after the company reported net profit stood at Rs 52.15 crore in Q4 FY24, steeply higher than Rs 24.98 crore in Q4 FY23. Revenue from operations jumped 14.38% to Rs 2046.87 crore during the quarter as compared with Rs 1,789.46 crore posted in corresponding quarter last year.

K.P. Energy was locked in 5% upper circuit after the company has received new order for development of 9MW wind power project forming part of the wind-solar hybrid power project to be developed in Gujarat.

Inox Wind advanced 2.28% after the company announced that the meeting of the board of directors of the company is scheduled on 25 April 2024 to consider and approve issuance of bonus equity shares.

Global Markets:

Asian stocks were traded mixed on Tuesday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India. Investors remained on edge ahead of earnings from some of the world’s biggest companies this week, while more cues on U.S. interest rates were also in focus.

Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health. Markets were now awaiting earnings reports from some of the biggest companies on Wall Street

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