The initial public offering (IPO) of JNK India Ltd will open for bidding on Tuesday, April 23. The company would be selling its shares in the range of Rs 395-415 apiece and investors can bid for a minimum of 36 equity shares and its multiples thereafter. The bidding process will close on Thursday, April 25. JNK India, incorporated in 2010, is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces. The manufacturing is done at the in-house manufacturing facilities and/or third-party vendors. The issue includes a fresh share sale of Rs 300 crore and offer-for-sale (OFS) of up to 84,21,052 equity shares by its promoters and other selling shareholders, amounting to Rs 349.47 crore at the upper end of the price band. The company is looking to raise a total of Rs 649.47 crore via IPO route. The Thane-based JNK India has completed projects in Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal. It has implemented projects globally, including in Nigeria and Mexico. The company has served over 17 clients in India and seven clients overseas as of March 31, 2023. Indian Oil Corporation, Tata Projects, Rashtriya Chemicals & Fertilizers and Numaligarh Refinery are few of its clients. One of JNK India’s manufacturing facilities is located in the Multi-Product Special Economic Zone in Mundra, Gujarat, where the production is exclusively for export. For the nine-month ended December 31, 2023, JNK India reported a net profit of Rs 46.21 crore with a revenue of Rs 256.76 crore. The company's net profit came in at Rs 46.36 crore witha revenue of Rs 411.55 crore for the financial year ended on March 31, 2023. JNK India has reserved 50 per cent of the net offer for the qualified institutional investors (QIBs), while non-institutional investors (NIIs) will get 15 per cent of shares. Retail investors will get 35 per cent of the net offer. IIFL Securities and ICICI Securities are the book running lead managers of the JNK India IPO, while Link Intime India is the registrar for the issue. Shares of the company are likely to be listed at both the bourses- BSE and NSE on April 30, Tuesday.