JNK India Limited, a company in the business of manufacturing Heating Equipments for various industries, has allocated Rs 194.84 crores to anchor investors ahead of its initial public offering (IPO), which is scheduled to commence today, April 23, 2024. The allocation includes 46,94,989 equity shares of Rs 415 per share to various investors, both foreign and domestic.
Opening and closing dates
The IPO is scheduled to open for public subscription today, Tuesday i.e April 23, 2024 and will close on Thursday, April 25, 2024.
IPO Details
The IPO comprises a fresh issue of equity shares worth Rs 3,000 million and an offer for sale (OFS) of 84,21,052 equity shares by Promoter Selling Shareholders and Investor Selling Shareholder.
Price Band
For the offer, the price band has been set at Rs 395 to Rs 415 per equity shares. At the upper end of the price band, the IPO is expected to fetch Rs 649.47 crore.
Lead Managers and Registrar
IIFL Securities Limited and ICICI Securities Limited are serving as the book-running lead managers for the IPO, while Link Intime India Private Limited is appointed as the registrar of the issue.
Domestic Mutual Fund Participation
Among the anchor investors, 7 domestic mutual funds received an allocation of Rs 27,93,594 equity shares, totaling approximately Rs 11.93 crore, constituting 59.50 per cent of the total anchor book size.
Investor Participation
Investors can bid for a minimum of 36 equity shares and in multiples of 36 equity shares thereafter. The offer is being made through the book building process, with specific allocations for different types of investors.
Listing
The equity share offered by JNK India Limited will be listed on both the BSE and NSE stock exchanges.
