JNK India IPO
JNK India IPO — date, price band, lot size & details 2024
JNK India listed on 30 Apr 2024 at ₹621, 49.6% above the ₹415 issue price.
JNK India designs, makes, supplies, installs and commissions process fired heaters, reformers and cracking furnaces for refineries and chemical plants. Its total income was Rs 411.55 crore in FY2023.
Stock price
JNK India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 23 Apr 2024
- Close 25 Apr 2024
- Allotment 26 Apr 2024
- Refund/credit 29 Apr 2024
- Listing 30 Apr 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Apr, 2024 |
|---|---|
| Price Band | ₹395 – ₹415 |
| Face Value | ₹2 |
| Lot Size | 36 Shares |
| Issue Size | ₹649.47 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,940 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 36 shares at the ₹415 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 36 | ₹14,940 |
| Retail (max) | 13 | 468 | ₹1,94,220 |
| S-HNI (min) | 14 | 504 | ₹2,09,160 |
| S-HNI (max) | 66 | 2,376 | ₹9,86,040 |
| B-HNI (min) | 67 | 2,412 | ₹10,00,980 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 138.45 crore in FY2021 to Rs 411.55 crore in FY2023.
- 02Profit after tax rose from Rs 16.48 crore in FY2021 to Rs 46.36 crore in FY2023.
- 03Profit after tax was Rs 46.21 crore in the nine months to 31 December 2023.
- 04The source puts the PAT margin at 18.24% and return on net worth at 31.79%.
- 05Rs 300.00 crore of the issue was fresh capital, mostly for working capital.
Risks · 5
- 01The pre-issue P/E was 43.32 at the upper band of Rs 415, based on EPS of Rs 9.58.
- 02Orders come from a small number of large refinery and chemical projects, so income can be lumpy, as with total income of Rs 297.14 crore in FY2022.
- 03Total borrowing rose from Rs 5.99 crore on 31 March 2022 to Rs 56.73 crore on 31 December 2023.
- 04It is exposed to currency moves in the U.S. dollar, Chinese yuan and euro, and Rs 349.47 crore of the issue was offer for sale.
- 05Promoters held 94.56% before the issue and 67.97% after it.
Three years of numbers
All figures in ₹ crore, as reported in the JNK India offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 453.39 | 337.78 | 268.32 | 125.12 |
| Total Income | 256.76 | 411.55 | 297.14 | 138.45 |
| Profit After Tax | 46.21 | 46.36 | 35.98 | 16.48 |
| NET Worth | 168.56 | 122.17 | 72.18 | 36.82 |
| Reserves and Surplus | 158.88 | 112.57 | 62.58 | 36.22 |
| Total Borrowing | 56.73 | 33.76 | 5.99 | 8.95 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the JNK India RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
JNK India IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹9.58 | ₹11.08 |
| P/E Ratio (x) | 43.32 | 37.46 |
| Market Cap at Offer Price (₹ Cr) | ₹2,001.79 | ₹1,730.79 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹415 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹279.74 Cr of the issue is earmarked to named objects.
About the company
Its products are made to each customer's requirements for refineries, petrochemical, fertiliser and chemical plants. It has done projects in states such as Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal, and abroad in Nigeria and Mexico.
Its domestic clients include Indian Oil Corporation, Tata Projects, Rashtriya Chemicals & Fertilizers and Numaligarh Refinery. Its promoters include Mascot Capital and Marketing and JNK Global of Korea.
The IPO was Rs 649.47 crore, with Rs 300.00 crore of fresh issue and Rs 349.47 crore of offer for sale by promoters and another shareholder. Rs 262.69 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
113 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of JNK India?
The current Grey Market Premium is ₹105, or 25% over the issue price.
What is the JNK India IPO price band?
₹395 to ₹415, on a face value of ₹2.
When is the allotment?
The basis of allotment is 26 April 2024, with listing on 30 April 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
