JNK India Limited IPO: Check IPO Details, Date, Price | Espresso


JNK India Limited IPO opens on April 23. Check IPO Details Issue Date Price

April 24, 2024
JNK India Limited IPO opens on April 23. Check IPO Details Issue Date Price

JNK India Limited is coming out with a public issue to raise Rs 649 crores from the market.

Below are the details of the JNK India Limited IPO:

  • Issue opens – April 23 (Tuesday)
  • Issue closes – April 25 (Thursday)
  • Issue size – Rs 649 crores
  • Price band – Rs 395 to 415 per equity share
  • Bid lot – 36 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

The Company was incorporated in June 2010 as "JNK India Pvt. Ltd". Subsequently on conversion into a public limited company the name was changed to "JNK India Ltd" in May 2023. JNK Global, a KOSDAQ listed company, is one of the Corporate Promoters, holding 25.79% in the company.

JNK India 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.

The company has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen. As of December 31, 2023, the company has installed 1 Hydrogen Refuelling Station (HRS), at Indian Oil R&D Centre, Faridabad, Haryana. Apart from HRS, the company has the capability to offer customized Solar PV systems of capabilities above 100KW and is in discussions with multiple prospective customers for systems cumulating to over 16 MW.

JNK India's business model involves collaboration with its customers, from the initial consultation, specification, and design stage to the final installation of the Heating Equipment.

JNK India's domestic customers include Indian Oil Corporation, Tata Projects, Rashtriya Chemicals & Fertilizers and Numaligarh Refinery, while its overseas customers include a leading EPC company in Europe, a leading oil & gas exploration & production company in Oman and a Middle East arm of European EPC company in oil and gas.

As of December 31, 2023, JNK India has served 29 customers including 21 in India and 8 overseas. Further, 7 out of the 12 oil refining companies in India, are its customers and the company has supplied or is in the process of supplying Heating Equipment to 11 of the 24 operating oil refineries across India.

The company's Order Book value was Rs. 845.03 Cr on December 31, 2023, out of which Rs. 729.20 Cr or 86.29% was from the Indian market and Rs. 115.83 Cr or 13.71% was from the overseas market. The company's Order Book to sales ratio has doubled from 1.04 times for Fiscal 2021 to 2.13 times for Fiscal 2023.

For Fiscals 2021 to 2023, the company's Revenue from Operations, EBITDA and Profit After Tax had grown at a CAGR of 71.97%, 68.09% and 67.75%, respectively, indicating growth in its financial performance in recent years.

Issue Size: 

Rs. 649 crores

Issue break-up:

  • QIB – 50% of the net offer – Rs 324.74 crores
  • NIB – 15% of the net offer – Rs 97.42 crores
  • RET – 35% of the net offer – Rs 227.32 crores




Link Intime India Pvt Ltd


All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Thursday, April 25, 2024

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