iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

JNK India Files IPO Prospectus with SEBI

23 Aug 2023 , 01:59 PM

JNK India, a heating equipment manufacturer based in Maharashtra, has submitted a draft red herring prospectus to the regulatory body Sebi as part of its plans for a public issue.

The proposed initial public offering includes a fresh issuance of shares valued at Rs 300 crore by the company. Additionally, there will be an offer-for-sale (OFS) of 84,21,052 equity shares by both promoters and an investor.

The selling shareholders in the OFS are Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters, Mascot Capital and Marketing, and Milind Joshi.

Prior to filing the red herring prospectus with the Registrar of Companies (ROC), the company may opt to issue shares worth Rs 60 crore through private placement. If this pre-IPO placement occurs, the mentioned amount will be subtracted from the overall size of the fresh issue.

The funds from the fresh issue will primarily be used for working capital needs, totaling Rs 275.72 crore. The remaining funds will be allocated towards general corporate purposes and offer expenses.

JNK India has secured a prominent position in the heating equipment sector in India in terms of new order bookings between FY21 and FY23. The company specializes in thermal designing, engineering, manufacturing, supplying, installing, and commissioning process fired heaters, reformers, and cracking furnaces.

These heating equipment components are vital in process industries such as oil and gas refineries, petrochemicals, fertilizers, and hydrogen and methanol plants.

IIFL Capital Services and ICICI Securities are the designated merchant bankers for this issue.

JNK India

Related Tags

  • JNK India
  • JNK India DRHP
  • JNK India IPO
  • JNK India SEBI
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.