JNK India filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 300 crore and an Offer for Sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder.
Proceeds from the fresh issue to the tune of Rs 276 crore will be used for funding working capital requirements and a portion will also be used for general corporate purposes. IIFL Securities and ICICI Securities are the book-running lead managers of the public issue. The equity shares are proposed to be listed on BSE and NSE.
JNK India specialises in process-fired heaters, commanding a market share of about 27 per cent within the Indian heating equipment market for new order bookings during fiscal year 2023.
| Company Name | CMP |
|---|---|
| BHEL | 316.70 |
| Thermax | 4141.20 |
| Kirloskar Oil Eng | 1616.95 |
| Skipper | 433.50 |
| GMM Pfaudler | 931.05 |
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