JNK India made a strong start on its first day of trading at Dalal Street. Its shares opened at Rs 621 on the NSE, marking a premium of 49.64% over the issue price of Rs 415. Likewise, the stock debuted at a 49.40% premium on the BSE, opening at Rs 620 compared to the issue price.
The listing of JNK India has surpassed expectations, providing investors with a stronger-than-anticipated listing boost. Before listing, This Company’s shares were trading at a grey market premium of Rs 130 each, indicating a listing gain of over 31% for investors. The grey market premium saw a significant increase, rising from just Rs 25 at the close of the bidding period.
JNK India IPO
The JNK India IPO was available for bidding from April 23 to April 25. The company offered its shares within a fixed price range of Rs 395 to Rs 415 per share, with a lot size of 36 shares. Through its primary offering, the company raised slightly over Rs 649.47 crore, comprising a fresh share issuance of Rs 300 crore and an offer-for-sale (OFS) of up to 84,21,052 shares.
The overall subscription for the issue surpassed 28.13 times. Qualified institutional bidders (QIBs) subscribed a remarkable 75.72 times their quota, while non-institutional investors subscribed 23.26 times. Retail investors, however, only bid 4.11 times for their allocated portions during the three-day bidding period.
Established in 2010, JNK India specializes in the design, production, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces. The book-running lead managers for the JNK India IPO are IIFL Securities and ICICI Securities, with Link Intime India serving as the registrar for the issue.
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