Ahmedabad: JNK India Limited 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. , has fixed the price band of Rs 395/- to Rs 415/- per Equity Share of face value Rs 2/- each for its initial public offer, the company said in official statement.

“The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, April 23rd, 2024, for subscription and close on Thursday, April 25^th, 2024. Investors can bid for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter. The issue consists of a fresh issue of Rs 3,000.00 million and offer for sale (OFS) of up to 8,421,052 Equity Shares from promoter selling shareholders and individual selling shareholder,” the official release stated.

The release also states “the Company operates an in-house fabrication facility at the Mundra Special Economic Zone in Gujarat, spreads over approximately 20,243 square meters with an installed capacity of 5,000 metric tonnes of fabrication and modularization per annum. As on December 31, 2023, it had an order book of Rs 8,450.27 million”

According to the official statement, “The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.”

IIFL Securities Limited and ICICI Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the issue. The equity shares are proposed to be listed on the BSE and NSE, the company said.