JNK India IPO: With subscriptions flowing in from retail, non-institutional investors (NIIs), and qualified institutional buyers (QIBs), the JNK India IPO is off to a promising start on its second day of subscriptions today and is probably going to get fully booked. JNK India IPO subscription status is 1.03 times, as per BSE data.
The brokerage in its report said that JNK India Ltd manufactures heating equipment for process sectors such as fertilizer, oil and gas refineries, and petrochemicals. In addition to venturing into the flare and incinerator systems markets, the company hopes to break into the renewable energy space by specialising in green hydrogen.
The company has performed well financially over the last three fiscal years. The company has grown both its top and bottom lines over the periods under review, having established a place for itself in the heating equipment sector. Its order book, which was worth ₹845 crore as of December 31, 2023, points to possible future development, according to the report.
With all of these considerations, investors may apply for this IPO with a long-term perspective, according to the brokerage, which also feels that the IPO value of 43x P/E is well priced.
Before making a final choice, investors should consider the company's growth potential and value, according to the brokerage. Read more:
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