JNK India IPO: Here's what GMP, subscription status signals ahead of listing

 On the 3rd time of subscription, the JNK India IPO witnessed sizeable enthusiasm from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs). Despite the retail conception being afloat subscribed, the wide effect remained stable.

According to BSE data, the JNK India IPO garnered bids for 31,17,66,156 shares, importantly surpassing the 1,10,83,278 shares disposable for subscription. This oversubscription translates to a subscription complaint of 28.13 times.

The retail conception saw a subscription complaint of 4.11 times, portion non-institutional investors subscribed astatine a complaint of 23.26 times. The quota for Qualified Institutional Buyers (QIB) was oversubscribed importantly astatine 75.72 times.

Also read: JNK India IPO: Issue subscribed 28.13 times connected the past time of bidding process led by QIBs, NIIs. Check GMP

JNK India GMP today

The grey marketplace premium (GMP) for the JNK India IPO is +117, suggesting that JNK India shares are trading astatine a premium of ₹117 successful the unofficial market, arsenic reported by investorgain.com.

Considering the precocious extremity of the IPO pricing scope on with the existing grey marketplace premium, it is anticipated that JNK India shares volition debut astatine ₹532 per share, representing an summation of 28.19% implicit the IPO terms of ₹415.

Today's GMP for the IPO indicates a higher premium and predicts a robust listing, based connected the grey marketplace enactment observed implicit the past 10 sessions. Analysts astatine investorgain.com estimation that the GMP ranges from a minimum of ₹0 to a maximum of ₹117.

'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.

Also read: JNK India IPO allotment finalised connected April 26; latest GMP, 6 steps to cheque status

Analysts instrumentality connected JNK India IPO

Brokerage steadfast Reliance Securities said that it expects that the the bid publication to spot betterment with caller businesses and improved prospects for the oil-gas and fertilizer sectors, portion recommeding ‘subscribe’ to the issue.

“JNK has evolved arsenic 1 of the cardinal players to capitalize connected the upcoming request of Heating Equipment completing the worth concatenation successful Heaters, Reformers and Cracking Furnace implicit the past fewer years. The geographical enlargement with absorption connected precocious maturation markets to capitalize connected the manufacture tailwinds worldwide arsenic determination are a full of 53 refineries expected to beryllium commissioned successful 21 countries by CY30 arsenic per F&S study and heating instrumentality accounts for 3.3% of the full capex estimated astatine $ 186 bn. We expect the bid publication is expected to spot betterment with caller businesses and improved prospects for the oil-gas and fertilizer sectors. JNK has the planetary parentage, skilled and experienced promoter’s holding respective backgrounds successful their enactment of concern are the added advantages. Hence, we urge an “SUBSCRIBE" to the issue," the brokerage steadfast said successful its note.

Also read: Upcoming IPOs: 4 caller issues and listings scheduled for this week

Another brokerage steadfast Nirmal Bang said that JNK India delivered maturation and instrumentality ratios which are superior to comparable companies portion its valuation is astatine the little extremity of the range.

The brokerage steadfast giving ‘subscribe’ tag to the contented said, “JNK is good placed to capitalize connected the Global arsenic good arsenic Indian capex unfolding successful the lipid and gas, petrochemicals and fertilizer industries. With the heating instrumentality manufacture having constricted players owed to precocious introduction barriers, JNK has been capable to bid beardown EBITDA margins of 17% and make ROCE of 40% successful FY23. JNK has delivered maturation and instrumentality ratios which are superior to comparable companies portion its valuation is astatine the little extremity of the range. Based connected favourable manufacture operation with constricted contention and beardown pipeline of orders, we are affirmative connected JNK and urge to Subscribe to the IPO."

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Published: 28 Apr 2024, 04:28 PM IST