IPO News

JNK India Limited raises Rs. 194.84 crore from Anchor Investors

Posted On : 2024-04-23 11:58:22( TIMEZONE : IST )

JNK India Limited raises Rs. 194.84 crore from Anchor Investors

JNK India Limited is in the business of manufacturing the process-fired heaters, reformers, and cracking furnaces (together, the "Heating Equipment") that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries, has garnered Rs. 194.84 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, April 23, 2024. The company informed the bourses that it allocated 46,94,989 equity shares at Rs. 415 per share on Monday, April 22, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Goldman Sachs, Kotak MF, HDFC MF, Nippon MF, Mirae Asset fund, DSP, LIC MF, Bajaj Allianz Life Insurance and Aditya Birla SunLife Insurance.

Out of the total allocation of 46,94,989 equity shares to the anchor investors, 27,93,594 equity shares were allocated to 7 domestic mutual funds through a total of 11 schemes amounting to Rs. 115.93 crore (approx.) i.e. 59.50% of the Total Anchor Book Size.

IIFL Securities Limited and ICICI Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the issue. The equity shares are proposed to be listed on the BSE and NSE.

Source : Equity Bulls


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