Heating equipment company JNK India, pencil maker Doms Industries file draft papers with Sebi for IPOs
IPO.
The issue comprises fresh equity of up to Rs 300 crore and an offer for sale (OFS) of up to Rs 84.2 lakh worth shares.
Under the OFS, Goutam Rampelli, Dipak Kacharulal, JNK Heaters, Mascot Capital and Marketing, and Milind Doshi will offload shares.
JNK India has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning process fired heaters, reformers and cracking furnaces.
The company is one of the well-recognized heater companies in India, having a market share of approximately 27% in the segment, in terms of new order booking in FY23.
Its heating equipment is required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants.
The net proceeds from the issue will be used towards working capital requirements and other general corporate purposes.
For FY23, the company has clocked revenue from operations of Rs 407 crore and a profit of Rs 46.3 crore.
IIFL Securities and ICICI Securities are the book running lead managers to the issue, while Link InTime India is the registrar.
Doms Industries
Creative products company Doms Industries, too, has filed its DRHP with the regulator for Rs 1,200 crore IPO, which consists of fresh equity issue of Rs 350 crore and an OFS of Rs 850 crore.
Under the OFS, Italian company FILA will offload shares worth Rs 800 crore, while Sanjan Rajani and Ketan Rajani will sell up to Rs 25 crore each.
The company designs, develops, manufactures, and sells a wide range of 'stationery and art' products, primarily under its flagship brand 'Doms' in the domestic market as well as in over 40 countries internationally.
Its core products such as pencils and mathematical instrument boxes enjoy high market
