JNK India IPO gets 28x subscription

New Delhi: The initial public offer of heating equipment maker JNK India received 28.07 times subscription on the closing day of bidding on Thursday. The Rs650 crore initial share sale received bids for 31,10,55,408 shares against 1,10,83,278 shares on offer, as per NSE data.

The category for Qualified Institutional Buyers (QIBs) fetched 75.72 times subscription, while the portion for non institutional investors got subscribed 23.19 times. The quota for Retail Individual Investors (RIIs) received 4.01 times subscription. The Initial Public Offer (IPO) had a fresh issue of up to Rs 300 crore and an offer for sale of up to 84,21,052 equity shares. The IPO had a price range of Rs 395-415 a share.