The global medium voltage motors market is projected to witness steady growth during the forecast period of 2024-2028, with increasing demand for energy-efficient motors, expansion of the process industries, and growing adoption of renewable energy sources. The revival of the capex cycle in the energy sector, driven by declining costs of renewable energy and energy storage systems, is a key factor fueling market growth.
JNK India’s initial public offering (IPO), which opened for subscription on Tuesday, April 23, received a 49% subscription on the first day. Qualified institutional buyers (QIBs) led the subscription, with their portion being fully booked at 67%. The retail portion (48%) and non-institutional investors (25%) also saw decent subscriptions.
Prior to the IPO, the company garnered 194.84 crore from anchor investors. Notable participants included Goldman Sachs, Kotak Mutual Fund, HDFC Mutual Fund, and LIC Mutual Fund.
According to the Red Herring Prospectus (RHP), JNK India is a leading manufacturer of heating equipment, including reformers, cracking furnaces, and process fired heaters, which are essential for industries such as fertilizer, petrochemicals, and oil and gas refineries. The company provides comprehensive services from engineering and development to installation and commissioning for both domestic and international markets.
The JNK India IPO consists of a fresh issue of 300 crore and an offer-for-sale (OFS) of up to 8,421,052 equity shares by promoter selling shareholders and an individual selling shareholder.
