JNK India IPO opens next week. Check issue size, key dates, other details to know
₹300 crore, and an offer-for-sale (OFS) of up to 8,421,052 equity shares of a face value of ₹2 each by the promoter selling shareholders, Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and individual selling shareholder Milind Joshi (up to 467,835).
The JNK India IPO comprises a fresh issue of ₹300 crore, and an offer-for-sale (OFS) of up to 8,421,052 equity shares of a face value of ₹2 each by the promoter selling shareholders, Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and individual selling shareholder Milind Joshi (up to 467,835).
The company intends to use the net proceeds to pay for general corporate objectives and requirements for working capital, among other things. Tentatively, JNK India IPO basis of allotment of shares will be finalised on Friday, April 26, and the company will initiate refunds on Monday, April 29, while the shares will be credited to the demat account of allottees on the same day following refund.
JNK India share price is likely to be listed on BSE and NSE on Tuesday, April 30. The JNK India IPO has set aside a minimum of 15% of its shares for non-institutional institutional investors (NII), a maximum of 50% of its shares for qualified institutional buyers (QIB), and a minimum of 35% of the offer for retail investors.
The JNK India IPO's book running lead managers are IIFL Securities Ltd and ICICI Securities Limited, while the issue's registrar is Link Intime India Private Ltd. As per the red herring prospectus (RHP), the company's business is to manufacture the "Heating Equipment," which includes reformers,
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