Jinkushal Industries IPO

Jinkushal Industries IPO is a bookbuilt issue of ₹116.15 crore. It combines a fresh issue of 0.86 crore shares, aggregating to ₹104.54 crore, and an offer for sale of 0.10 crore shares, aggregating to ₹11.61 crore.

The IPO opens for subscription on September 25, 2025, and closes on September 29, 2025. The allotment is expected to be finalized on Tuesday, September 30, 2025. The price band for the IPO is set at ₹115 to ₹121 per share, and the minimum lot size for an application is 120 shares. 

Company Summary

Founded in November 2007, Jinkushal Industries Limited is an export trading company supplying construction machinery globally. Operating in over thirty countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK, the company has built a strong reputation for quality, customisation, and service excellence.

As of April 2025, Jinkushal Industries has supplied over 1,500 construction machines, including 900 new and 600 used/refurbished. The company demonstrated rapid growth by supplying 1,171 machines in the nine months ended December 31, 2024, with 815 new and 356 used/refurbished during this period.

The company’s in-house Refurbishment Facility, which is staffed by 48 skilled employees, plays a critical role in customising and reconditioning pre-owned machinery to satisfy customer requirements. This facility ensures consistent quality and performance by adhering rigorously to technical standards and customer specifications. Furthermore, Jinkushal collaborates with independent, non-exclusive refurbishment centres that adhere to its standard operating procedures and technical guidelines.

With a robust infrastructure, global reach, and a customer-first philosophy, Jinkushal Industries Limited continues to scale its operations and strengthen its position as a trusted player in the international construction equipment trade.

As of December 31, 2024, the procurement network included 228 suppliers: 172 contractors, 51 traders, and five manufacturers.

As of December 31, 2024, the company had 90 permanent employees and 21 interns.

Company Business

The company operates across three primary business verticals:

  • Export trading of customised, modified, and accessorised new construction machines. Delivering tailored solutions to meet client-specific operational and regional requirements.
  • Export trading of used and refurbished construction machines – Offering reliable and cost-effective alternatives, rigorously refurbished to ensure optimal performance and compliance with quality standards.
  • Export trading of its own brand ‘HexL’ construction machines – Under its proprietary brand HexL, the company currently offers backhoe loaders engineered for performance, durability, and value across global markets.

Company Strengths

  • A leading exporter of construction machines in the UAE and the USA through subsidiaries.
  • Refurbishment, reuse, and contribution to the circular economy, along with environmental responsibility.
  • Diversified Market Presence and Optimised Machine Solutions.
  • Efficient supply chain infrastructure supporting its export trading of construction machines.

Company Financials

Period Ended31 Mar 202531 Mar 2024
Assets179.35109.44
Total Income385.81242.8
Profit After Tax19.1418.64
EBITDA28.627.57
Net Worth86.1943.07
Total Borrowing54.8246.04
                                                                                                                                                                           Amount in ₹ crore

Objectives of IPO

  • Funding the working capital requirements of the Company
  • General Corporate Purposes

Promoters of the company

The Promoters of the company are Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain and Yashasvi Jain.

IPO Details

IPO DateSeptember 25, 2025 to September 29, 2025
Listing DateOctober 3, 2025
Face Value₹10 per share
Price Band₹115 to ₹121 per share
Lot size120 shares
Total Issue size95,99,548 shares (aggregating upto ₹116.15 Cr )
Fresh Issue86,40,000 shares (aggregating upto ₹104.54 Cr )
Offer for Sale9,59.548 shares of ₹10 (aggregating upto ₹11.61 Cr )
Issue typeBookbuilding IPO
Listing atNSE, BSE
Share Holding Pre Issue2,97,46,000 shares
Share Holding Post Issue3,83,86,000 shares

Lot Allocation Details

ApplicationLotsSharesAmount
Retail (Min)1120₹14,520.00
Retail (Max)131,560₹1,88,760.00
S-HNI (Min)141,680₹2,03,280.00
S-HNI (Max)688,160₹9,87,360.00
B-HNI (Min)698,280₹10,01,880.00

Allotment Schedule

Basis of AllotmentTue, 30 Sep, 2025
Initiation of RefundsWed, 1 Oct, 2025
Credit of Shares to DematWed, 1 Oct, 2025
Tentative Listing DateFri, 3 Oct, 2025
Cut-off time for UPI mandate confirmation5 PM on September 29, 2025

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50% of the Net Offer
Retail Shares OfferedNot less than 35% of the Net Offer
NII Shares OfferedNot less than 15% of the Net Offer

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