JNK India IPO opens today; Here's what a host of brokerage firms say for issue
JNK India is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces.
- Apr 23, 2024,
- Updated Apr 23, 2024 9:57 AM IST
The Rs 650 crore-initial public offering (IPO) of JNK India will open for bidding today, that is, Tuesday, April 23. The company is offering its shares in the range of Rs 395-415 apiece. Investors can bid for a minimum of 36 equity shares and its multiples thereafter. The issue will close for bidding on Thursday, April 25. JNK India has a 27 per cent market share in the Indian heating equipment market and is well poised to grow from the rising demand in the industry. The overall demand for heating equipment from Indian refineries, petrochemicals, and fertilizer segments between FY24 and FY29 is estimated at Rs 27,089 crore, said analysts from SMIFS Ltd. "The company is also in the process of licensing or acquiring companies in the heating equipment segment to capture the growing global demand. We recommend a subscription to the issue, as with a robust orderbook and JNK’s intention to diversify revenue growth by addressing industries like renewable energy the company is looking at a strong double digit growth," it said.
The Rs 650 crore-initial public offering (IPO) of JNK India will open for bidding today, that is, Tuesday, April 23. The company is offering its shares in the range of Rs 395-415 apiece. Investors can bid for a minimum of 36 equity shares and its multiples thereafter. The issue will close for bidding on Thursday, April 25. JNK India has a 27 per cent market share in the Indian heating equipment market and is well poised to grow from the rising demand in the industry. The overall demand for heating equipment from Indian refineries, petrochemicals, and fertilizer segments between FY24 and FY29 is estimated at Rs 27,089 crore, said analysts from SMIFS Ltd. "The company is also in the process of licensing or acquiring companies in the heating equipment segment to capture the growing global demand. We recommend a subscription to the issue, as with a robust orderbook and JNK’s intention to diversify revenue growth by addressing industries like renewable energy the company is looking at a strong double digit growth," it said.