JNK India IPO: Issue booked 16% on day 1 so far; retail portion subscribed 29%. Check latest GMP

The retail constituent has been subscribed 29%, the class for non-institutional investors (NIIs) has been truthful acold subscribed 7%, arsenic per information disposable connected BSE. The quota for qualified organization buyers (QIBs) is yet to beryllium booked.

Also Read: JNK India IPO opens today: GMP, subscription status, review, price, different details. Apply oregon not?

"Exciting news! Mint is present connected WhatsApp Channels 🚀 Subscribe contiguous by clicking the nexus and enactment updated with the latest fiscal insights!" Click here!

The terms set for the JNK India IPO has been acceptable successful the scope ofRs 395 to ₹415 for each equity stock with a look worth of ₹2. The contented volition adjacent connected Thursday, April 25. About 15% of the shares successful the JNK India IPO are reserved for non-institutional organization investors (NII), up to 50% has been allocated for qualified organization buyers (QIB), and 35% of the connection is reserved for retail investors.

The institution raised ₹194.84 crore from anchor investors connected Monday, April 22. Goldman Sachs, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, Mirae Asset Fund, DSP, LIC Mutual Fund, Bajaj Allianz Life Insurance, and Aditya Birla SunLife Insurance were among the planetary and home institutions that took portion successful the anchor.

Also Read: JNK India IPO: Heating instrumentality shaper raises ₹195 crore from anchor investors up of IPO

JNK India is successful the concern of manufacturing "heating equipment," which comprises reformers, cracking furnaces, and process fired heaters, according to the reddish herring prospectus (RHP). Process industries specified arsenic lipid and state refineries, petrochemicals, and fertiliser necessitate them. The institution provides heating instrumentality development, engineering, manufacturing, supply, installation, and commissioning services for some section and overseas markets.

Some of the company's home clients see Rashtriya Chemicals & Fertilizers Limited, Indian Oil Corporation Limited, Tata Projects Limited, and Numaligarh Refinery Limited.

Bharat Heavy Electricals Ltd (P/E of 186.02) and Thermax Ltd (P/E of 112.90) are the company's listed peers.

Also Read: Upcoming IPOs: JNK India, Varyaa Creations and 2 different SME nationalist issues scheduled for this week

JNK India IPO subscription status 

JNK India IPO has received bids for 17,92,152 shares against 1,10,83,278 shares connected offer, astatine 13:00 IST, according to information from the BSE.

The retail investors' conception received bids for 16,13,016 shares against 56,05,596 shares connected connection for this segment.

The NIIs information got bids for 1,78,632 shares against 24,02,399 connected connection for this segment.

The QIBs conception got bids for 504 shares against 30,75,283 connected connection for this segment.

JNK India IPO details 

In summation to an offer-for-sale (OFS) of up to 8,421,052 equity shares with a look worth of ₹2 made by the promoter selling shareholders Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd. (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and idiosyncratic selling shareholder Milind Joshi (up to 467,835), the JNK India IPO consists of a caller contented of ₹300 crore.

The nett proceeds volition beryllium utilized by the firm, among different things, to screen moving superior requirements and different wide firm purposes.

The contented registrar for the JNK India IPO is Link Intime India Private Ltd, portion the publication moving pb managers are IIFL Securities Ltd and ICICI Securities Limited.

Also Read: JNK India IPO: From terms set to GMP - present are 10 things to cognize earlier subscribing to issue

JNK India IPO GMP today

JNK India IPO GMP oregon grey marketplace premium is +25. This indicates JNK India stock terms were trading astatine a premium of ₹25 successful the grey market, according to investorgain.com.

After taking into information the precocious extremity of the IPO pricing scope and the existing premium connected the grey market, it is expected that JNK India shares volition database astatine a terms of ₹440 per share, which is 6.02% much than the IPO terms of ₹415.

Today's IPO GMP indicates higher and anticipates a coagulated listing based connected the enactment of the grey marketplace implicit the past 8 sessions. Analysts astatine investorgain.com estimation that the lowest GMP is ₹0 and the maximum GMP is ₹25.

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

Also Read: JNK India IPO announces terms set astatine ₹395-415 per share; cheque contented details, cardinal dates, more

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 23 Apr 2024, 01:08 PM IST