Apr 29, 2024 03:51 PM IST
JNK India IPO listing is set to happen tomorrow. Know how well the subscription effort of the company did.
The initial public offerings (IPO) season is still in full swing and under the spotlight now is JNK India IPO and its listing date. Notably, JNK India IPO subscription was to the tune of 28.07 times on the closing day of bidding last Thursday. For the ₹650 crore IPO that amounted to total bids for 31,10,55,408 shares against 1,10,83,278 shares on offer, National Stock Exchange (NSE) data revealed.
With all that having been done and dusted, those who have invested in the JNK India IPO would want to know when the listing will happen. Well, the same is set to happen on April 30, which is tomorrow. The shares have been proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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Those investors who want to know what the JNK India IPO GMP is, then know that the same was trading at a 28% premium according to a Financial Express report. This is as per the unofficial grey market and there is nothing official about it.
JNK India IPO details
The category for Qualified Institutional Buyers (QIBs) fetched 75.72 times subscription, while the portion for non-institutional investors got subscribed 23.19 times. The quota for Retail Individual Investors (RIIs) received 4.01 times subscription.
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JNK India IPO price range was ₹395-415 a share. The demand from Qualified Institutional Buyers (QIBs) soared to 75.72 times its allocation, whereas non-institutional investors subscribed 23.19 times their portion. Retail investors clinched a 4.01 times subscription for their quota. JNK India had revealed that it had collected as much as ₹195 crore from anchor investors.
JNK IPO consisted of a fresh issue of up to ₹300 crore. There was also an offer for sale that totalled up to 84,21,052 equity shares.
The funds raised from the new offering will be allocated to support operational needs and general corporate initiatives.
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JNK India specializes in thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment, serving diverse clientele across domestic and international markets with excellence in quality and service.
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