The IPO comprised fresh equity of up to Rs 300 crore and an offer for sale of up to Rs 84.2 lakh worth shares. Under the OFS, Goutam Rampelli, Dipak Kacharulal, JNK Heaters, Mascot Capital and Marketing, and Milind Doshi will offload shares.
JNK India is looking to raise Rs 649.47 crore through the IPO, a fresh issue of shares worth Rs 300 crore and an offer for sale of 84.21 lakh shares worth Rs 349.47 crore
JNK India received steady response so far on first day. The category reserved for institutional investors was booked the most at 67%, followed by retail investors at 34% and non-institutional investors at 9%.
The company’s order book has grown six-fold in the past three fiscal years. The company s order bid size has consistently expanded, which has helped in winning large orders.