Heating equipment maker JNK India Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares worth up to Rs 300 crore and an Offer for Sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.
Those offloading shares in the OFS are of promoters — Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co. Ltd. and Mascot Capital and Marketing Pvt Ltd. — and shareholder Milind Joshi.
The Mumbai-based company may consider an issue of equity shares aggregating up to Rs 60 crore in the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced.
Going by the draft papers, proceeds from the fresh issue to the tune of Rs 276 crore will be used for funding working capital requirements and a portion will also be used for general corporate …
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Heating equipment maker JNK India files draft papers with Sebi to float IPO (23-08-2023)
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TVS Supply Chain shares settle 2% higher than issue price in debut trade (23-08-2023)
Shares of TVS Supply Chain Solutions Ltd, a part of TVS Mobility Group, ended with a premium of 2 per cent against the issue price of Rs 197 on the debut trade on Wednesday.
The stock was listed at Rs 206.30, up 4.72 per cent from the issue price on the BSE. During the day, it jumped 5.83 per cent to Rs 208.50.
Shares of the company ended at Rs 200.95, rising by 2 per cent.
At the NSE, it began the trade at Rs 207.05, registering a gain of 5.10 per cent. During the day, the stock rallied 5.88 per cent to Rs 208.60 before settling at Rs 201.10, registering an increase of 2 per cent.
The company commanded a market valuation of Rs 8,789.75 crore.
In terms of traded volume, 17.59 lakh shares were traded at the BSE and over 2.41 crore shares at the NSE during the day.
The Initial Public Offering (IPO) of TVS Supply Chain Solutions was subscribed 2.78 times last week.
The Rs 880-crore IPO had a price range of Rs 187-197 per share.
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