IIFL Securities Limited and ICICI Securities Limited are the book-running lead managers to the issue.
MUMBAI, Apr 24 (The CONNECT) – The Initial Public Offering of JNK India Limited was fully subscribed today, the second day of bidding led by NII and Retail investors.
The issue received bids of 1,14,16,932 shares against the offered 1,10,83,278 equity shares, at a price band of ₹395-415, according to the data available on the stock exchanges. Overall, the issue was subscribed 1.03 times.
Non-Institutional Investors portion was subscribed 1.25 times and retail 1.13 times. The Qualified Institutional Buyer segment was subscribed 0.68 times. The issue will close tomorrow.
JNK India Ltd had raised Rs 194.84 crores from anchor investors before the IPO opened. Foreign and Domestic Institutions who participated in the anchor were Goldman Sachs, Kotak MF, HDFC MF, Nippon MF, Mirae Asset fund, DSP, LIC MF, Bajaj Allianz Life Insurance and Aditya Birla SunLife Insurance.
Leading brokerages like Motilal Oswal, Anand Rathi, Nirmal Bang, SBI Securities, Reliance Securities, Arihant Capital, Choice Broking, InCred Equities, Swastika Investment, Ventura Securities, BP Wealth, Indsec Securities, Sushil Finance, and SMIFS have given a “SUBSCRIBE” rating to the issue, highlighting the company’s established track record, diverse customer base, and strong position in the heating equipment market. JNK India’s demonstrated capabilities, robust financial performance, and order book visibility project it as well-positioned to benefit from industry tailwinds and global expansion.
IIFL Securities Limited and ICICI Securities Limited are the book-running lead managers and Link Intime India Private Limited is the registrar of the issue.
