JNK India IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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JNK India Post Listing Review:
Listed at Rs. 621, premium of 49.64% over the issue price of Rs. 415. The listing has been much above the expectations of the grey market players.
What are the promoters of JNK India IPO?
The PROMOTERS of JNK India are MASCOT CAPITAL AND MARKETING PRIVATE LIMITED, JNK HEATERS CO. LTD, ARVIND KAMATH, GOUTAM
RAMPELLI AND DIPAK KACHARULAL BHARUKA
What are the Objects of JNK India IPO?
The Issue comprises a Fresh Issue by the Company.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following objects:
1. Funding working capital requirements; and
2. General corporate purposes
What is the business of JNK India?
JNK India is one of the leading Heating Equipment companies in India in terms of new order booking between Fiscal 2021 to Fiscal 2023 and has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning process fired heaters, reformers and cracking furnaces. It is one of the well-recognized process fired heater companies in India, having a market share of approximately 27% in the Indian Heating Equipment market, in terms of new order booking in Fiscal 2023.
A process fired heater is a type of industrial heater used to heat fluids or gases directly by burning a fuel source such as natural gas or propane. Reformers are devices used to convert hydrocarbons, such as natural gas or naphtha, into synthesis gas or syngas, which is a mixture of hydrogen and carbon monoxide. Further, cracking furnaces are used to break down large hydrocarbon molecules into smaller ones, which can then be used to produce a variety of products, including fuels, chemicals, and plastics. The process of breaking down hydrocarbons is known as cracking, and it typically involves heating the hydrocarbon feedstock in the presence of a catalyst.
The process fired heaters, reformers and cracking furnaces are required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants etc.
In India, it has completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, West Bengal and globally has completed projects in Nigeria and Mexico. Further, it has ongoing projects in Gujarat, Odisha, Haryana, Rajasthan in India and globally in Oman, Algeria, and Lithuania. Further, it has successfully completed projects which were based in far-reaching locations, which included its projects in India at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria. In recognition of its efforts, it has been accorded incentives by its Customers for early completion of projects in India and overseas. Further, in March 2022, it was recognised for its safety compliance by one of the private refinery companies of a multinational industrial conglomerate from Nigeria and was awarded a certificate of appreciation towards.
It is also working on building capabilities in renewable sector with green hydrogen. We are building
capabilities in renewable sector with onsite hydrogen production, hydrogen fuel stations and solar photovoltaic – EPC (“Solar PV-EPC”) which forms part of green hydrogen value chain.
For more information, click www.jnkindia.com
Jyoti CNC IPO GMP, Particulars & Guidance
| JNK India IPO Details | |
| IPO opens on | 23 April 2024 |
| IPO closes on | 25 April 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 15649968 Sh /Rs 649.47 Cr |
| * Fresh Issue | 7228916 Sh /Rs 300 Cr |
| * Offer for Sale | 8,421,052 Sh /Rs 349.47 Cr |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 395-415 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs.? per share |
| Retail Lot Size | 36 Shares |
| Listing will at | BSE, NSE |
| Shares offered in JNK India? | Shares | Rs. in Cr |
| QIB (50 %) | 7824984 | 324.74 |
| NII (15 %) | 2347495 | 97.42 |
| RII (35 %) | 5477489 | 227.31 |
| Employees | ? | ? |
| Total Shares | 15649968 | 649.47 |
| Retail portion will be oversubscribed by | 63780 Forms. | |
| How to apply in JNK India IPO ? | Amount Rs. | |
| Min Retail Application | 36 Sh | 14940 |
| Max Retail Application | 468 Sh | 194220 |
| Small HNI (Min) application | 504 Sh | 209160 |
| Small HNI (Max) application | 2376 Sh | 986040 |
| Big HNI Application | 2412 Sh | 1000980 |
| What is the timetable of JNK India IPO? | |
| IPO opens on | 23 April 2024 |
| IPO Closes on | 25 April 2024 |
| IPO Allotment on | 26 April 2024 |
| Unblocking of ASBA | 29 April 2024 |
| Credit of Shares | 29 April 2024 |
| Listing on | 30 April 2024 |
| Registered Office of JNK India | |
| Unit No. 203, 204, 205 & 206, Opposite. TMC Office Centrum IT Park, Near Satkar Hotel, Thane -West, Thane 400 604, Maharashtra, India | |
| Who are the Lead Managers of JNK India IPO? IIFL Securities Limited ICICI Securities Limited | |
| Registrar to IPO | |
| Link Intime India Private Limited |
| JNK India IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 138.45 | 16.48 | 3.43 | 56.96 |
| 2021-22 | 297.14 | 35.98 | 7.50 | 66.03 |
| 2022-23 | 411.55 | 46.36 | 9.66 | 47.71 |
| Book Value of the Share on 31.03.2023 | Rs. | 25.45 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 415 | ||
| JNK India IPO Ratio Analysis | |
| Price /EPS | 42.96 |
| Price/Book Value Ratio | 16.31 |
| Price/BV after IPO | ? |
How JNK India IPO compares with the Peers?
Peer Comparison.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| JNK India | 2 | 407 | 42.96 |
| Thermax Ltd | 2 | 8089 | 112.90 |
| Bhel | 2 | 23365 | 186.02 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
JNK India IPO Guidance
Price Rs 415, Lot 36 Sh, Net Size Rs.649.47 Cr.
Op 23 April Cl 25 April BoA 26 April, Listing 30 April
JNK India is one of the leading Heating Equipment companies in India in terms of new order booking between Fiscal 2021 to Fiscal 2023 and has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning process fired heaters, reformers and cracking furnaces. It is one of the well-recognized process fired heater companies in India, having a market share of approximately 27% in the Indian Heating Equipment market, in terms of new order booking in Fiscal 2023.
Size: The gross size of the IPO is Rs. 649.47 Crore whereas the size net of anchor portion is very small. Retail portion is only Rs. 227.31 crore and HNI portion is only Rs.97.42 crores. So oversubscription is not an issue. However the grey market at present is focused on Vodafone Idea FPO, so huge oversubscription may not be seen for this IPO.
Financials: The company has shown steady rise in the topline and the bottomline. The market at present is strong and expanding and we expect that the company will be able to maintain its profits of 2022-24, in the coming years. The shares are offered at reasonable valution. Listing gains are expected. Apply.
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