Last day to subscribe JNK India IPO, check subscription details here

25 Apr 2024 , 11:47 AM

On April 25, the final day of bidding for JNK India’s Initial Public Offering (IPO), worth ₹649.47 Crore, witnessed a subscription of 1.66 times. According to exchange data, investors bid for 1.84 Crore equity shares against the total issue size of 1.1 Crore shares.

By 11.45 am, the non-institutional investors took the lead, subscribing 2.96 times the allocated quota, followed by retail investors who purchased 1.64 times the reserved portion. However, Qualified Institutional Buyers (QIBs) were not fully subscribed, acquiring 69% of their quota.

The JNK India offer consists of a fresh issuance of shares amounting to ₹300 Crore and an offer-for-sale (OFS) of 84.21 lakh equity shares worth ₹349.47 Crore by existing shareholders, including Goutam Rampelli, JNK Global Company, Mascot Capital and Marketing, and Milind Joshi.

Having raised ₹194.84 Crore through the anchor book on April 22, notable funds such as Natixis International Funds, Kotak Mutual Fund, Goldman Sachs, HDFC Mutual Fund, Allianz Global Investors Fund, DSP Mutual Fund, and LIC Mutual Fund participated in the IPO.

The price band for the issue has been set at ₹395-415, and the shares are expected to list on both BSE and NSE, tentatively scheduled for April 30, 2024.