JNK India Launches Spectacularly, 50% Above Listing Price, Debuts at ₹621!

JNK India's stock opened at ₹621 on NSE, a 49.63% jump from the ₹415 issue price, showcasing a robust debut and a strong initial market performance.
JNK India Launches Spectacularly, 50% Above Listing Price, Debuts at ₹621!

JNK India’s stock debuted impressively, opening on the NSE at ₹621 per share, marking a 49.63% increase over the issue price of ₹415. This significant premium highlights a strong market entrance for the company.

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The JNK India IPO closed with a subscription rate of 28.13 times, driven by strong demand across all investor categories. Retail interest stood at 23.26 times, NIIs at 4.11 times, and QIBs led with a 75.72 times subscription.

Jnk India manufactures industrial heaters and furnaces for sectors like oil, gas, and petrochemicals, excelling in thermal design and branching into green hydrogen. It collaborates with global entities, including JNK Heaters, and has a strong safety record, completing projects worldwide in places like India, Nigeria, and Mexico.

Jnk India Ltd aims to allocate INR 2,626.90 million from IPO proceeds for 2024 to 2026 working capital needs and business growth. Remaining funds will support general corporate purposes, including acquisitions and marketing enhancements.

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