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JNK India IPO
Price Band
₹395.0–415.0
Issue Size
₹649.47 Cr
Lot Size
36 shares
Min Investment
₹14,940
GMP
+₹135.0 (32.53%)
Issue Price
₹415.0
Subject to Sauda
₹3700
Paid only if allotted
JNK India IPO AI Summary
- JNK India IPO is listed on BSE, NSE in the Industrial Products sector.
- Price band: ₹395.0–₹415.0 per share, lot size 36 shares (min. investment ₹14,940).
- Subscription window: 23 Apr–25 Apr 2024, listing on 30 Apr 2024.
- Current GMP is +₹135.0 (32.53%), an estimated listing price of ₹550 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
JNK India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Apr 2024 — not a current signal.
14 of 14 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
JNK India IPO Grey Market Premium (GMP) Today
GMP
+₹135.0
GMP %
+32.53%
Est. Listing
₹550.0
Updated: 25 Jul 2026 14:06
About the Company
JNK India Limited was incorporated in 2010 and is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces. The company has completed projects in Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu and West Bengal and has implemented projects globally, including in Nigeria and Mexico. As of March 31, 2023, the company has served over 17 clients in India and seven clients overseas. The domestic clients include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited and Numaligarh Refinery Limited. All products in JNK India Limited are manufactured as per the requirements of the customer and in accordance with the applicable standards. The manufacturing is done at the in-house manufacturing facilities and/or third-party vendors. One of the manufacturing facilities is located in the Multi-Product Special Economic Zone in Mundra, Gujarat, where production is exclusively for export. It is spread over an area of about 20,243 square metres with an installed capacity of 5,000 metric tonnes for manufacturing and modularization per annum. As of March 31, 2023, the company had 192 permanent employees.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 453.39 | 337.78 | 268.32 | 125.12 |
| Total Income | 256.76 | 411.55 | 297.14 | 138.45 |
| Profit After Tax | 46.21 | 46.36 | 35.98 | 16.48 |
| NET Worth | 168.56 | 122.17 | 72.18 | 36.82 |
| Reserves and Surplus | 158.88 | 112.57 | 62.58 | 36.22 |
| Total Borrowing | 56.73 | 33.76 | 5.99 | 8.95 |
Key Ratios
EPS
₹9.58
NAV
₹34.83
ROE
31.79%
ROCE
34.73%
RoNW
31.79%
P/B Value
11.92
P/E Ratio
43.32
Market Cap
₹2308.27 Cr
PAT Margin
18.24%
Debt/Equity
0.34
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Bharat Heavy Electricals Ltd. | 77.05 | 1.79% | 186.02 | 1.37 | 1.37 |
| Thermax Ltd. | 343.67 | 12.24% | 112.9 | 39.98 | 39.98 |
| JNK India Limited This IPO | 25.45 | 47.71% | — | 9.66 | 9.51 |
Promoters
Mascot Capital & Marketing Pvt.Ltd., JNK Heaters Co.Ltd., Arvind Kamath, Gaoutam Rampelli and Dipak Kacharulal Bharuka
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding working capital requirements 262.69 2 General corporate purposes 17.05
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹297.14 Cr in the year ending March 31, 2022, rising to ₹411.55 Cr by March 31, 2023. However, in the most recent period ending December 31, 2023, total income decreased to ₹256.76 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹35.98 Cr for the year ending March 31, 2022, increasing to ₹46.36 Cr by March 31, 2023. In the latest period ending December 31, 2023, profit after tax was slightly lower at ₹46.21 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
JNK India Limited has an implied P/E ratio of 43.32 at the issue price, compared to peers like Bharat Heavy Electricals Ltd. with a P/E of 186.02 and Thermax Ltd. with a P/E of 112.9.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before its official listing. A positive GMP suggests that investors expect the stock to list at a premium over the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's financial health and market position.
Who May Want to Wait
Investors who are risk-averse or prefer stable returns may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by market conditions on the day of listing. Investors should be aware that while some IPOs may see immediate gains, others may not perform as expected.
This evaluation is generated from JNK India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is JNK India IPO GMP today?
JNK India IPO GMP today is +₹135.0 (32.53%), indicating an estimated listing price of ₹550. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of JNK India IPO?
The price band of JNK India IPO is ₹395.0–₹415.0 per share.
When does JNK India IPO open and close?
JNK India IPO opens on 23 April 2024 and closes on 25 April 2024.
When does JNK India IPO list on the stock exchange?
JNK India IPO listed on 30 April 2024 at ₹550.0.
What is the lot size for JNK India IPO?
The lot size for JNK India IPO is 36 shares, requiring a minimum investment of ₹14,940.
What is the lot size for JNK India IPO?
The lot size for JNK India IPO is 36 shares.
What is the minimum investment required?
The minimum investment required is ₹14,940.
What is the price band for the IPO?
The price band for the IPO is ₹395.0 to ₹415.0.
When is the IPO opening and closing?
The IPO opens on April 23, 2024, and closes on April 25, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Apr 2024
Close
25 Apr 2024
Allotment
26 Apr 2024
Listing
30 Apr 2024
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