Sunil Shankar Matkar
August 23, 2023 / 12:29 AM IST
Maharashtra-essentially based completely heating equipment maker JNK India has filed draft purple herring prospectus with the regulator Sebi for its public danger plans.
As per the submitting, the initial public offering contains a fresh issuance of shares price Rs 300 crore by the company, and a proposal-for-sale (OFS) of 84,21,052 fairness shares by promoters and investor.
Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters, Mascot Capital and Marketing and marketing, and Milind Joshi are the selling shareholders in the OFS.
The fired heater company can even honest take observe of danger of Rs 60 crore price shares via non-public placement, sooner than submitting the purple herring prospectus with the ROC. In case the pre-IPO placement is undertaken by the company, then the acknowledged amount will likely be diminished from the fresh danger size.
The fresh danger proceeds will likely be utilised mainly for working capital requirements amounting to Rs 275.72 crore and the leisure for approved corporate functions & supply charges.
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Promoters Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters, Mascot Capital and Marketing and marketing, encourage 94.56 p.c shareholding in the company, while public shareholder Milind Joshi has 4.96 p.c stake.
South Korean company JNK Heaters, and Mascot Capital are the company promoters in the company with 25.seventy 9 p.c and 46.62 p.c stakes respectively.
JNK India has reported healthy financial performance in the previous years, with profit rising at a CAGR of 67.75 p.c right via FY21-FY23 to Rs 46.4 crore in FY23. Earnings elevated at a CAGR of 71.97 p.c to Rs 407.3 crore and EBITDA (earnings sooner than passion, tax, depreciation and amortisation) grew at a CAGR of 68.09 p.c right via the same duration, to Rs 73.5 crore in FY23.
EBITDA margin stayed in the fluctuate of 18-19 p.c and PAT margin at 11-12 p.c fluctuate in the previous three financial years.
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JNK India is likely one of the critical leading heating equipment firms in India via most well liked repeat reserving between FY21-FY23, with capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning direction of fired heaters, reformers and cracking furnaces.
The direction of fired heaters, reformers and cracking furnaces (collectively heating equipment) are required in direction of industries reminiscent of oil and gas refineries, petrochemicals, fertilisers, hydrogen and methanol plant life, etc.
IIFL Securities, and ICICI Securities are the service provider bankers to the chance.
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