The scrip was listed at Rs 620, exhibiting a premium of 49.4% to the issue price.

So far, the stock has hit a high of 674.40 and a low of 620. On the BSE, over 4.18 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of JNK India was subscribed 28.13 times. The issue opened for bidding on 23 April 2024 and closed on 25 April 2024. The price band of the IPO was fixed at Rs 395 to Rs 415 per share.

The offer comprised of a fresh issue of equity shares of Rs 300 crore and an offer for sale (OFS) of up to 84,21,052 equity shares from the promoter selling shareholders and individual selling shareholders.

Of the net proceeds from the fresh issue, about Rs 262.69 crore will be utilized for funding working capital requirement and balance towards general corporate purposes. The selling shareholders will be entitled to the proceeds from the OFS (net of its portion of the offer-related expenses). The company will not receive any proceeds from the OFS.

As on 31 January 2024, its borrowings were Rs 157.06 crore on a consolidated basis.

JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.

The firm reported a net profit of Rs 46.21 crore and sales of Rs 253.39 crore for the nine months ended on 31 December 2023.