JNK India has bumper listing
![JNK India](https://images.sptulsian.com/articles/JNK-India-has-bumper-listing.png)
There is a new listing on the bourses today – JNK India and it was a bumper listing! As against the IPO price of Rs.415, the stock got listed on the BSE at Rs.620 and it went up to an intraday high at Rs.709.85. It is presently trading at Rs.677 levels.
The stock had met with a moderate kind of response, not exactly trailblazing. The IPO was overall subscribed 28.06x, of which QIB portion was the highest at 75.72x, followed by HNIs at 23.19x and Retail at 4.01x.
The company, established in 2010, manufactures heating equipments, such as process fired heaters, reformers and cracking furnaces used in oil and gas refineries and petrochemical industry. It enjoys 27% domestic market share in the 7-player heating equipment industry, besides developing capabilities in renewable sector for green hydrogen and solar photovoltaic EPC.
In our IPO Analysis, we had concluded, “Good company fundamentals and attractive pricing make the IPO a ‘subscribe’.”
30th Apr 2024 at 07:58 pm