Jinkushal Industries Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹115 - ₹121
- Lot size
- 120 shares
- Issue amount
- ₹116.11 cr
- Total subscription
- 65.11×
- Opens
- 25 Sept 2025
- Closes
- 29 Sept 2025
- Allotment
- 30 Sept 2025
- Listing
- 3 Oct 2025
Offer at a glance
Issue overview
- Issue size
- 95,95,483 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,800
- Fresh issue
- ₹104.49 cr
- Offer for sale
- ₹11.61 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,520
- Issue type
- Bookbuilding IPO
- Shares before issue
- 2,97,46,000
- Shares after issue
- 3,83,96,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 120 | ₹14,520 |
| sHNI | 14 | 1,680 | ₹2,03,280 |
| bHNI | 69 | 8,280 | ₹10,01,880 |
Share reservation
Subscription & GMP
Subscription by category
Reported 29 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 28,016 | 11,64,405 |
| HNIs(10L +) | 571 | 16,190 |
| HNIs (2-10L) | 286 | 43,553 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 23.22 | 828.99 |
| FIIs | 0 | 146.94 |
| FIs | 0 | 534.05 |
| Mutual Funds | 0 | 8.02 |
| Others | 0 | 139.98 |
| RETAIL | 40.68 | 1,915 |
| HNIs 2+ | 5.81 | 912.21 |
| HNIs 10+ | 11.62 | 1,638.4 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 6.15 | 6.27 | 3.4 |
| ROE | 28.3 | 55.19 | 51.95 |
| ROCE | 18.39 | 29.44 | 34.11 |
| RONW | 21.22 | 43.29 | 41.29 |
| PRE IPO(PE) | 18.8 | 0 | 0 |
| POST IPO(PE) | 24.26 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Action Construction Equipment Limited | 31.18 | 1071.5 | 2 | 135.6 | 25.34 | 34.37 |
| Jinkushal Industries Limited | NA | NA | 10 | 28.98 | 21.22 | 6.15 |
| Vision Infra Equipment Solutions Limited | 10.94 | 174.75 | 10 | 66.82 | 20.68 | 15.97 |
Company information
Company profile
Incorporated in November 2007, the company is an export trading business specializing in construction machinery with a global presence. It supplies equipment to more than 30 countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK, and has built a strong reputation for quality, customization, and service excellence. The company operates across three main verticals. The first is customised new construction machines, where it exports new, modified, and accessorised machines tailored to meet diverse operational and regional needs. The second vertical is used and refurbished construction machines, offering reliable and cost-effective alternatives that are refurbished to meet performance and global quality standards. The third vertical is its proprietary brand, ‘HexL,’ which currently focuses on backhoe loaders designed for durability, performance, and value. As of April 2025, the company has supplied over 1,500 machines, including 900 new and 600 refurbished units. During the nine months of FY25 ending December 31, 2024, it supplied 1,171 machines, of which 815 were new and 356 refurbished. Its operations are supported by an in-house refurbishment facility staffed with 48 skilled employees, ensuring reconditioning, customization, and adherence to strict technical standards. Additionally, non-exclusive third-party refurbishment centres, operating under the company’s standard operating procedures, provide further support to meet customer requirements.
Strengths
- Global Leadership & Market Presence: Recognized as the top Non-OEM exporter of construction machinery with a 6.3% market share (CareEdge Report); accredited as a Three-Star Export House by DGFT, exporting to 30+ countries including the UAE, USA, Mexico, UK, and Australia.
- Sustainability & Green Practices: Prolongs equipment life through systematic refurbishment, reducing reliance on new production, conserving raw materials and energy, lowering carbon emissions, and ensuring consistent performance.
- Comprehensive Product Portfolio: Provides a diverse lineup of machines—including hydraulic excavators, cranes, backhoe loaders, and asphalt pavers—spanning new, refurbished, and proprietary HexL brand equipment, supporting resilience against market fluctuations.
Risk factors
- High Dependence on Export Markets: Nearly 99% of the company’s revenue comes from international markets, leaving it exposed to global trade risks.
- Geographic Concentration Risk: A large share of revenue is concentrated in Mexico and the UAE, making the company susceptible to adverse market conditions in these regions.
- Reliance on Third-Party Suppliers: The company depends on domestic and international third-party suppliers without long-term agreements, posing risks of supply chain disruptions and price fluctuations.
Promoters
Anil Kumar Jain
Abhinav Jain
Sandhya Jain
Tithi Jain
Yashasvi Jain
Registrar & documents
Lead manager
GYR Capital Advisors Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
H. No. 260, Ward No. 42 Opp. C. M. House Near Chhattisgarh Club, Civil Lines Raipur, Chhattisgarh, 492001
NA
[email protected]Company website ↗Understanding JKIPL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.