Summary of this article
Jinkushal Industries IPO grey market premium (GMP) is ranging between Rs 21 to Rs 22 per share on the first day of subscription.
Jinkushal Industries IPO: Jinkushal Industries' public issue opened for subscription on September 25. Jinkushal Industries' IPO subscription window will close on September 29. Here are some insights investors should know about Jinkushal Industries' IPO before applying for the public issue:
Jinkushal Industries IPO GMP
Jinkushal Industries IPO grey market premium (GMP) is ranging between Rs 21 to Rs 22 per share on the first day of subscription according to various websites which track the demand for shares of unlisted companies. Based on the GMP of Rs 22, shares of Jinkushal Industries Ltd are likely to debut at Rs 143 per share, indicating potential listing gains of over 18 per cent.
Jinkushal Industries IPO: Subscription Update
Jinkushal Industries IPO has been subscribed 35 per cent so far on the first day of subscription. Investors across categories have applied for 2.36 million shares compared to the 6.72 million shares offered for subscription.
Retail investors have booked their quota in Jinkushal Industries IPO, 50 per cent by applying for 1.68 million shares compared to the 3.35 million shares offered for subscription. Non-institutional investors have subscribed their quota 46 per cent by applying for 6,68,640 shares compared to the 1.43 million shares offered for subscription.
The construction equipment exporter has reserved 1.92 million shares for qualified institutional buyers, against which QIBs have bid for 9,960 shares.
Jinkushal Industries IPO: Offer Size, Listing Date, Price Band
Jinkushal Industries Ltd seeks to raise Rs 116.15 crore through its public issue, which consists of a fresh issue of 8.6 million shares and an offer for sale of 1 million shares.
Jinkushal Industries' IPO price band has been set between Rs 115 and Rs 121 per share. Retail individual investors can place bids for a minimum of 1 lot comprising 120 shares, amounting to an investment of Rs 14,520.
Jinkushal Industries IPO share allotment status is likely to be finalised on September 30. Once the share allotment status of Jinkushal Industries IPO is decided, successful bidders will receive shares of Jinkushal Industries in their demat accounts on October 1. Shares of Jinkushal Industries will tentatively list on the BSE and NSE. Jinkushal Industries IPO listing date is October 3.
Jinkushal Industries: Key Financials
Jinkushal Industries Ltd consolidated total income for the fiscal ended March 31, 2025 stood at Rs 385.81 crore increasing by more than 58 per cent compared to Rs 242.8 crore in the fiscal ended March 31, 2024. On the other hand the company's profit-after-tax increased by over 2 per cent to Rs 19.14 crore in FY25 compared to Rs 18.64 crore in the preceding fiscal.
Jinkushal Industries: Peers
Jinkushal Industries competes with other large, diversified companies and smaller, specialised firms which specialise in export of construction machinery. As per the company's RHP, Jinkushal Industries peers include Action Construction Equipment Ltd, Vision Infra Equipment Solutions Ltd and Bull Machines Pvt Ltd.
Jinkushal Industries: Business Model
Jinkushal Industries is engaged in exporting customised and accessorised new construction equipment. The company source the construction machines from OEMs, dealers, and intermediary suppliers based on regional demand. Jinkushal Industries enhances the value of the machinery by customising, modifying and accessorising it. The company also exports refurbished construction equipment. Jinkushal Industries also has their own brand of construction vehicles called HEXL.
The company manufactures backhoe loaders under its HEXL brand. Apart from trading in construction equipment, Jinkushal Industries also offers mining, logistics and leasing services.
Jinkushal Industries IPO: Risks and Strengths
Here's a look at some of the key risks related to Jinkushal Industries' business according to the company's RHP:
Jinkushal Industries disclosed in its RHP that it is heavily dependent on the export market and derives majority of its revenue from the export trading of construction machines, thus exposing the company to regulatory uncertainty, geopolitical risks, tariff & non-tariff barriers and trade policy volatility.
Jinkushal Industries has significant working capital requirements and inability to meet such working capital requirements may have an adverse effect on the company's results of operations.
The construction equipment exporter said that majority of its revenue is denominated in foreign currencies thus the company is exposed to foreign currency exchange risks and adverse foreign trade policies.
Here's a look at some of the key strengths of Jinkushal Industries according to the company's RHP:
Jinkushal Industries is the largest exporter of non-OEM construction equipment as per CareEdge Report.
Jinkushal Industries claims to have a diversified market presence and optimised machine solutions.
The company claims that it has built an efficient supply chain infrastructure that supports its core business in the export trading of construction machines.
Jinkushal Industries IPO: Objective
Jinkushal Industries Ltd plans to use the proceeds from the public issue to fund the working capital requirements of the company and its general corporate purposes.
