JNK India Limited is in the business of manufacturing the process-fired heaters, reformers, and cracking furnaces (together, the “Heating Equipment”) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries, has garnered Rs. 194.84 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, April 23, 2024. The company informed the bourses that it allocated 46,94,989 equity shares at Rs. 415 per share on Monday, April 22, 2024, to anchor investors.
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.
Out of the total allocation of 46,94,989 equity shares to the anchor investors, 27,93,594 equity shares were allocated to 7 domestic mutual funds through a total of 11 schemes amounting to Rs. 115.93 crore (approx.) i.e. 59.50% of the Total Anchor Book Size.
IIFL Securities Limited and ICICI Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the IPO. The equity shares are proposed to be listed on the BSE and NSE.
The issue consists of a fresh issue of equity shares worth Rs 3,000 million and an offer for sale (OFS) of up to 8,421,052 equity shares by Promoter Selling Shareholders and Investor Selling Shareholder.
The Company is proposing to open its initial public offering of Equity Shares on Tuesday, April 23, 2024, and closes on Thursday, April 25, 2024. The price band for the Offer has been determined at Rs 395 – Rs 415 per equity share.
The IPO will fetch Rs 649.47 crore at the upper end of the price band.
