JNK India IPO details: The Rs 649.5-crore initial public offer (IPO) was off to a slow start on Tuesday. Till 1:30 PM, the issue was subscribed 18 percent, led mainly by retail investors (31 per cent subscription).
The portion reserved for non-institutional investors (NII) was subscribed 8 percent, while the portion reserved for QIBs has not received any bids so far.
JNK India Subscription: Should you apply?
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JNK India has done well during the previous three fiscal years. The business has carved out a niche for itself in the heating equipment category and has seen growth in both its top and bottom lines over the periods under review.
As of December 31, 2023, it had an order book valued at Rs 845 crore. The IPO valuation of 43x P/E appears fairly priced. Read more
