Read on the application
Heating equipment maker JNK India Limited is now going to raise money from the market through an IPO. For this, the company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). In IPO Rs. Apart from the fresh issue of up to Rs 300 crore, this includes an offer for sale (OFS) of 8.42 million equity shares by promoters and other selling shareholders. Explain that the face value of these shares is Rs 2 per equity share.
What is the next plan?
These equity shares range from 10 lakh shares of Gautham Rampelly, 8.67 lakh shares of Deepak Kachrulal Bharuka, 2.18 million shares of JNK Heater Company Limited, 3.94 million shares of Mascot Capital and Marketing Pvt Ltd to 4.19 lakh shares of Milind Joshi. According to DRHP, the fresh issue raised from Rs. 275.72 crore will be used for general corporate purposes and working capital requirements.
The company is ahead of booking new orders
It has over 27% share of the Indian heating equipment market for new order bookings during FY2023. Explain that its order book as on March 31, 2023 stood at Rs 868.27 crore, six times higher than Rs 143.58 crore on the same date in 2021.
28.84% increase in net profit
On the other hand, in FY 2023, the consolidated revenue of the company will be Rs. 296.40 crore up 37.42% to Rs. 407.30 crores. Further, between FY 2022 and 2023, the company’s net profit is expected to be Rs. 35.98 crores to Rs. 46.36 crore is expected.
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