SES arm gets SEBI nod for ESG Ratings

Shares of JNK India makes strong listing at the bourses on Tuesday. Against an IPO price of ₹415, the stock listed at ₹620 on the BSE — up 49.39 per cent — and zoomed further 71.56 per cent to hit a high of ₹712 during the day. The stock ended at ₹693.95 — a gain of 67.21 per cent.

The IPO saw a strong response, especially from institutional investors, as it was subscribed 28 times. Tarun Singh, MD, Highbrow Securities, said: “I believe the IPO of JNK India stood out because, it not only had the financials to demonstrate its value but also made the strategic decision to set its valuation lower than the benchmarks of its listed competitors. This approach led to a superior valuation that was more appealing for investors to endorse.”

According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, JNK India, defied even optimistic pre-listing forecasts with a spectacular debut on the stock exchanges.

“While the initial surge might be followed by some volatility, the strong fundamentals and positive outlook suggest long-term potential,” he added.Anchor investors

SES ESG Research, the wholly-owned subsidiary of Stakeholders Empowerment Services, has received SEBI approval to provide Environment, Social and Governance (ESG) rating.

The SEBI has approved SES ESG Research as a Category 2 provider of ESG ratings from April 25. The notfor-profit SES will transfer all its ESG business to newly formed subsidiary to comply with SEBI regulations.

SES has started ESG Rating in 2018-19 and the first report was published in 2019 based on FY18 data.

The coverage has now increased to over 500 companies and will increase further gradually based on client requirements.

SES has partnered with NSE for ESG ratings.