Upcoming IPO JNK India IPO Anchor Investor 195 Crore IPO GMP Price Band Know In Detail

JNK India IPO: JNK India’s IPO is going to hit the market today, Tuesday, April 23. However, the company collected Tk 195 crore from anchor investors before the IPO hit the market. JNK India (JNK India IPO) gave such information in the exchange filing yesterday on April 22. The company issued a total of 46,94,989 new equity shares in the market on Monday. The price per share was fixed at Rs.415. Originally these shares were reserved for anchor investors.

Response from anchor investors

In a meeting with board members of the company on April 22, it was announced that certain shares would be reserved for anchor investors. In this case, the price of each share (JNK India IPO) has been fixed at 415 rupees. IIFL Securities and ICICI Securities are the book running lead managers for this company. These anchor investors include Goldman Sachs, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, Mirae Asset Fund, DSP, LIC, Bajaj Allianz Life Insurance and Aditya Birla Sun Life Insurance. Out of the total allocation, 27,53,594 equity shares were bought by 7 domestic mutual funds. A total of 59.50 percent of the overall anchor book is bought by various mutual fund houses in the country.

Detailed information about the IPO

JNK India is going to release 3000 million shares in the market. Out of this, 8,421,052 equity shares will be sold through Offer for Sale (JNK India IPO). Shares of JNK India will come to the market today on April 23. Bidding in this IPO will continue till April 25. The IPO price band has been kept between Tk 395 and Tk 415. To buy IPO, investors have to buy a total of 36 shares in one lot. And through this IPO, JNK India wants to raise a total of Tk 649.47 crore from the market in the upper price band.

How much savings for whom?

The IPO is being offered through book building method. In this case 50 percent of the total shares are reserved for institutional investors, 15 percent for non-institutional investors and 35 percent for individual retail investors.

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