Jinkushal Industries IPO subscribed 5.10 times

The offer received bids for 3.42 crore shares as against 67.21 lakh shares on offer.

The initial public offer of Jinkushal Industries received bids for 3,42,94,440 shares as against 67,21,048 shares on offer, according to stock exchange data at 17:00 IST on Friday (26 September 2025). The issue was subscribed 5.10 times.

The issue opened for bidding on 24 September 2025 and it will close on 29 September 2025. The price band of the IPO is fixed between Rs 115 and 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

The IPO consists of a fresh issue of 86.36 lakh equity shares and an offer for sale (OFS) of 9.60 lakh shares by promoters. The OFS includes 6.21 lakh shares by Anil K Jain, 2.18 lakh shares by Abhinav Jain, and 1.21 lakh shares by Sandhya Jain.

Of the net proceeds from the fresh issue, Rs 72.67 crore is for funding the long-term incremental working capital requirement and the balance for general corporate purposes. As of 31 March 2025, total borrowings (including lease liability) stood at Rs 54.82 crore.

Jinkushal Industries (JKIPL), promoted by Anil Kumar Jain, is the largest non-OEM exporter of construction machines from India with a 6.9% global market share and recognition as a three-star export house by DGFT. The company trades in new, customized, used, and refurbished machines and has recently launched its own brand, HexL, for backhoe loaders.

Exports contribute over 99% of revenue, with Mexico, the UAE, and Europe being key markets. JKIPL operates an in-house refurbishment facility in Raipur along with third-party centers in India and the UAE and has supplied over 1,500 machines globally. To expand its reach, it set up Hexco Global FZCO in the UAE and a US subsidiary.

Ahead of the IPO, Jinkushal Industries on Wednesday, 24 September 2025, raised Rs 34.82 crore from anchor investors. The board allotted 28.78 lakh shares at Rs 121 each to 6 anchor investors.

The firm reported a consolidated net profit of Rs 19.14 crore and sales of Rs 380.56 crore for the twelve months ended on 31st March 2025.

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