JNk India’s shares got listed at Rs 621 a piece, a premium of almost 50% to the issue price of Rs 415. The IPO was opened on April 23 and closed on April 25 to raise Rs 649.47 crore through a combination of fresh issue and offer for sale. It kept the IPO price band for the issue between the range of Rs 395 to Rs 415 per equity share. 

JNK India offered 7.6 million shares of the company via fresh issue, while 8.4 million shares by offer for sale. 

The shares were allotted on April 26. A retail investor had to bid for a minimum of 36 shares aggregating to Rs 14,940.

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About the company, JNK India is in the business of designing, manufacturing, supplying, installing, and commissioning process-fired heaters, reformers, and cracking furnaces. The company’s client book includes names such as Indian Oil Corporation, Tata Projects, Rashtirya Chemicals & Fertilisers, etc. It not just only provides its services in Maharashtra, Kerala, and other states of India but also in global markets like Nigeria and Mexico. 

IIFL Securities and ICICI Securities were the book-running lead managers to the issue of JNK India. Link Intime India worked as the registrar for the issue.