JNK India IPO to debut on the bourses tomorrow; here's what GMP indicates ahead of listing

Shares that person been allotted to individuals volition beryllium credited to their demat accounts today, Monday, April 29. In addition, for individuals who person not yet received their shares, the stock refunding process volition beryllium finished today.

The JNK India IPO saw an encouraging wide subscription rate. While qualified organization buyers (QIBs) and non-institutional investors (NIIs) responded to the JNK India IPO with immense enthusiasm, retail investors showed important interest. The JNK India IPO subscription presumption was 28.13 times connected the past day. The retail constituent was booked 23.26 times, portion the non-institutional capitalist information was subscribed 4.11 times. The quota for qualified organization buyers (QIBs) was subscribed 75.72 times.

Also Read: JNK India IPO allotment finalised today; latest GMP, 6 steps to cheque status

The JNK India IPO ended connected Thursday, April 25, aft opening connected Tuesday, April 23. About 15% of the shares successful the JNK India IPO person been allocated for retail investors, up to 50% for QIB, and 15% for NII.

JNK India IPO terms set was fixed astatine ₹395-415 per share, with a look worth of ₹2. Bids for multiples of 36 shares were considered, with a minimum bid of 36 shares.

Also Read: JNK India IPO: Here's what GMP, subscription presumption signals up of listing

Let's cheque what does JNK India IPO GMP today awesome up of listing.

JNK India IPO GMP oregon JNK India IPO grey marketplace premium is +122. This indicates JNK India stock terms were trading astatine a premium of ₹122 successful the grey market, according to investorgain.com.

It is anticipated that JNK India shares would database astatine a terms of ₹537 a share, which is 29.4% higher than the IPO terms of ₹415, aft accounting for the precocious extremity of the IPO pricing scope and the existent premium connected the grey market.

Based connected the grey market's enactment implicit the past 14 sessions, the IPO GMP shows higher and predicts a beardown listing. According to investorgain.com analysts, the top GMP is ₹122 and the lowest GMP is ₹0.

'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.

Also Read: JNK India IPO Day 2: Here are 5 cardinal things to cognize from RHP earlier subscribing to issue

JNK India IPO details

The JNK India IPO includes a caller contented of ₹300 crore successful summation to an offer-for-sale (OFS) by promoter selling shareholders to the tune of up to 8,421,052 equity shares with a look worth of ₹2 from Goutam Rampelli, JNK Global Co. Ltd., Mascot Capital and Marketing Private Limited, and idiosyncratic selling shareholder Milind Joshi.

The institution volition usage the nett proceeds, among different things, to wage for different wide firm objectives and moving superior requirements.

The JNK India IPO's contented registrar is Link Intime India Private Ltd, portion ICICI Securities Limited and IIFL Securities Ltd are the publication moving pb managers.

The institution garnered ₹194.84 crore connected April 22, Monday, from anchor investors. Some of the domesticand globalcompanies included Aditya Birla SunLife Insurance, Bajaj Allianz Life Insurance, Goldman Sachs, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, Mirae Asset Fund, DSP, and LIC Mutual Fund.

Also Read: JNK India IPO: Issue subscribed 28.13 times connected the past time of bidding process led by QIBs, NIIs. Check GMP

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decision.

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Published: 29 Apr 2024, 02:14 PM IST