JNK India files DRHP with SEBI for the proposed IPO; Key Details here

JNK India is into Consumer Heating Equipments and is looking raise funds through Fresh Issue and Offer for Sale

JNK India to raise Fresh Issue aggregating up to Rs 300 crores and an Offer for Sale up to 8,421,052 Equity Shares through public issue IPO

JNK India IPO: JNK India Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 300 crores and an Offer for Sale up to 8,421,052 Equity Share.. IIFL Securities, ICICI Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 300 Crs and offer-for-sale (OFS) of up to 8,421,052 equity shares by Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co. Ltd, Mascot Capital and Marketing Private Limited and Milind Joshi who will offload up to 1,007,169 Equity shares, up to 867,284 Equity shares, up to 2,182,200 Equity shares, up to 3,944,746 Equity shares and up to 419,653 Equity shares respectively...

Objects of the issue:
1) Funding working capital requirements amounting to Rs. 275.7 crores., and 2) General corporate purposes.

About Company:
Thane based JNK India Limited, established in 2010 is into Heating Equipments. Company is having capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning process fired heaters, reformers and cracking furnaces. Company is having a market share of approx 27% in the Indian Heating Equipment market, in terms of new order booking in FY23. (Source: F&S Report). Heating Equipment are required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants etc.

About Industry:
India is the third largest oil consumer in the world and the oil demand is expected to reach 11 million barrels per day by calendar year 2045. Demand for Heating Equipment from Indian refineries, petrochemicals and fertilizer (urea) segments between Fiscals2024 and 2029 is estimated at ₹ 270,890 million i.e., approximately ₹45,000 million on an annualized basis. Further, 61%, 37% and 2% of this demand would come from petrochemicals,refineries and fertilizers(urea), respectively. Furthermore,46%, 24%, 16% and 14% of this demand would come from cracking furnaces, low capital expenditure heaters, highcapital expenditure heaters and reformers, respectively.(Source: F&S Report)

Source: SEBI, BSE, NSE, DRHP, Company, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.