JNK India IPO announces price band at ₹395-415 per share; check details

The floor price is 197.50 times the face value of the equity shares and the cap price is 207.50 times the face value of the equity shares. Bids may be placed for a minimum of 36 equity shares or, if less, for multiples of 36 equity shares.

The initial public offering has set aside a minimum of 15% of its shares for non-institutional institutional investors (NII), a maximum of 50% of its shares for qualified institutional buyers (QIB), and a minimum of 35% of the offer for retail investors.

The JNK India IPO’s share allotment basis is expected to be finalized on Friday, April 26. The firm will then start processing refunds on Monday, April 29, and the shares would be deposited to the allottees’ demat accounts the same day as the refund. On Tuesday, April 30, JNK India share price is going to be listed on the BSE and NSE.

JNK India IPO details 

The JNK India IPO comprises a fresh issue of ₹300 crore, and an offer-for-sale (OFS) of up to 8,421,052 equity shares of a face value of ₹2 each by the promoter selling shareholders, Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and individual selling shareholder Milind Joshi (up to 467,835).

The company intends to use the net proceeds to pay for general corporate objectives and requirements for working capital, among other things.

(more to come) 

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Published: 18 Apr 2024, 08:19 AM IST