Jinkushal Industries IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Sep 25 to Sep 29 2025
Price Band
₹115 - 121
Current GMP
₹125.0 (+3.31%)
Subscription
65.09 times
IPO Details
| IPO Date | September 25, 2025 to September 29, 2025 |
| Listing Date | October 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹115 to ₹121 per share |
| Issue Price Final | ₹121 per share |
| Lot Size | 120 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 95,99,548 shares (aggregating up to ₹116.15 Cr) |
| Fresh Issue | 86,40,000 shares (aggregating up to ₹104.54 Cr) |
| Offer for Sale | 9,59,548 shares of ₹10 (aggregating up to ₹11.61 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,97,46,000 shares |
| Share Holding Post Issue | 3,83,86,000 shares |
IPO Date
September 25, 2025 to September 29, 2025
Listing Date
October 3, 2025
Face Value
₹10 per share
Issue Price Band
₹115 to ₹121 per share
Issue Price Final
₹121 per share
Lot Size
120 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
95,99,548 shares (aggregating up to ₹116.15 Cr)
Fresh Issue
86,40,000 shares (aggregating up to ₹104.54 Cr)
Offer for Sale
9,59,548 shares of ₹10 (aggregating up to ₹11.61 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
2,97,46,000 shares
Share Holding Post Issue
3,83,86,000 shares
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 35.70 |
| Non-Institutional Buyers | 146.39 |
| bNII (bids above ₹10L) | 141.05 |
| sNII (bids below ₹10L) | 157.05 |
| Retail Investors | 47.04 |
| Total ** | 65.09 |
Anchor Investors
1
QIB (Ex Anchor)
35.70
Non-Institutional Buyers
146.39
bNII (bids above ₹10L)
141.05
sNII (bids below ₹10L)
157.05
Retail Investors
47.04
Total **
65.09
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Sep 25, 2025 | 0.02 | 3.02 | 1.74 | 5.56 | 3.28 | 2.29 |
| Day 2 Sep 26, 2025 | 0.04 | 6.79 | 3.87 | 12.64 | 7.28 | 5.11 |
| Day 3 Sep 29, 2025 | 35.70 | 146.39 | 141.05 | 157.05 | 47.04 | 65.09 |
DayDay 1
Sep 25, 2025
QIB (Ex Anchor)0.02
NII3.02
NII (> ₹10L)1.74
NII (< ₹10L)5.56
Retail3.28
Total2.29
DayDay 2
Sep 26, 2025
QIB (Ex Anchor)0.04
NII6.79
NII (> ₹10L)3.87
NII (< ₹10L)12.64
Retail7.28
Total5.11
DayDay 3
Sep 29, 2025
QIB (Ex Anchor)35.70
NII146.39
NII (> ₹10L)141.05
NII (< ₹10L)157.05
Retail47.04
Total65.09
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 03-10-2025 | 121.00 | 20(16.53%) | 141 |
| 02-10-2025 | 121.00 | 20(16.53%) | 141 |
| 01-10-2025 | 121.00 | 20(16.53%) | 141 |
| 30-09-2025 | 121.00 | 20(16.53%) | 141 |
| 29-09-2025 | 121.00 | 20(16.53%) | 141 |
| 28-09-2025 | 121.00 | 17(14.05%) | 138 |
| 27-09-2025 | 121.00 | 17(14.05%) | 138 |
| 26-09-2025 | 121.00 | 17(14.05%) | 138 |
| 25-09-2025 | 121.00 | 21(17.36%) | 142 |
| 24-09-2025 | 121.00 | 21(17.36%) | 142 |
| 23-09-2025 | 121.00 | 51(42.15%) | 172 |
| 22-09-2025 | 121.00 | 51(42.15%) | 172 |
| 21-09-2025 | 121.00 | 51(42.15%) | 172 |
| 20-09-2025 | 121.00 | 51(42.15%) | 172 |
| 19-09-2025 | 121.00 | 51(42.15%) | 172 |
| 18-09-2025 | 121.00 | 51(42.15%) | 172 |
| 17-09-2025 | 121.00 | 51(42.15%) | 172 |
| 16-09-2025 | 121.00 | 51(42.15%) | 172 |
| 15-09-2025 | 0(%) | (%) |
Date03-10-2025
Price121.00
GMP20(16.53%)
Estimate List Price141
Date02-10-2025
Price121.00
GMP20(16.53%)
Estimate List Price141
Date01-10-2025
Price121.00
GMP20(16.53%)
Estimate List Price141
Date30-09-2025
Price121.00
GMP20(16.53%)
Estimate List Price141
Date29-09-2025
Price121.00
GMP20(16.53%)
Estimate List Price141
Date28-09-2025
Price121.00
GMP17(14.05%)
Estimate List Price138
Date27-09-2025
Price121.00
GMP17(14.05%)
Estimate List Price138
Date26-09-2025
Price121.00
GMP17(14.05%)
Estimate List Price138
Date25-09-2025
Price121.00
GMP21(17.36%)
Estimate List Price142
Date24-09-2025
Price121.00
GMP21(17.36%)
Estimate List Price142
Date23-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date22-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date21-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date20-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date19-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date18-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date17-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date16-09-2025
Price121.00
GMP51(42.15%)
Estimate List Price172
Date15-09-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Thu, Sep 25, 2025 |
| IPO Close Date | Mon, Sep 29, 2025 |
| Tentative Allotment | Tue, Sep 30, 2025 |
| Initiation of Refunds | Wed, Oct 1, 2025 |
| Credit of Shares to Demat | Wed, Oct 1, 2025 |
| Tentative Listing Date | Fri, Oct 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 29, 2025 |
IPO Open Date
Thu, Sep 25, 2025
IPO Close Date
Mon, Sep 29, 2025
Tentative Allotment
Tue, Sep 30, 2025
Initiation of Refunds
Wed, Oct 1, 2025
Credit of Shares to Demat
Wed, Oct 1, 2025
Tentative Listing Date
Fri, Oct 3, 2025
Cut-off time for UPI mandate confirmation
5 PM on Mon, Sep 29, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,520 |
| Retail (Max) | 13 | 1,560 | ₹1,88,760 |
| S-HNI (Min) | 14 | 1,680 | ₹2,03,280 |
| S-HNI (Max) | 68 | 8,160 | ₹9,87,360 |
| B-HNI (Min) | 69 | 8,280 | ₹10,01,880 |
ApplicationRetail (Min)
Lots1
Shares120
Amount₹14,520
ApplicationRetail (Max)
Lots13
Shares1,560
Amount₹1,88,760
ApplicationS-HNI (Min)
Lots14
Shares1,680
Amount₹2,03,280
ApplicationS-HNI (Max)
Lots68
Shares8,160
Amount₹9,87,360
ApplicationB-HNI (Min)
Lots69
Shares8,280
Amount₹10,01,880
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 179.35 | 109.44 |
| Total Income | 385.81 | 242.80 |
| Profit After Tax | 19.14 | 18.64 |
| EBITDA | 28.60 | 27.57 |
| NET Worth | 86.19 | 43.07 |
| Total Borrowing | 54.82 | 46.04 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
Period EndedAssets
31 Mar 2025179.35
31 Mar 2024109.44
Period EndedTotal Income
31 Mar 2025385.81
31 Mar 2024242.80
Period EndedProfit After Tax
31 Mar 202519.14
31 Mar 202418.64
Period EndedEBITDA
31 Mar 202528.60
31 Mar 202427.57
Period EndedNET Worth
31 Mar 202586.19
31 Mar 202443.07
Period EndedTotal Borrowing
31 Mar 202554.82
31 Mar 202446.04
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Jinkushal Industries | 6.15 | 6.15 | 28.98 | 21.22 | ||
| Action Construction Equipment | 34.39 | 34.37 | 135.60 | 31.18 | 25.34 | 0.01 |
| Vision Infra Equipment Solutions | 15.97 | 15.97 | 66.82 | 10.94 | 20.68 | 2.64 |
Company NameJinkushal Industries
EPS (Basic)6.15
EPS (Diluted)6.15
NAV (per share) (Rs)28.98
P/E (x)
RoNW (%)21.22
P/BV Ratio
Company NameAction Construction Equipment
EPS (Basic)34.39
EPS (Diluted)34.37
NAV (per share) (Rs)135.60
P/E (x)31.18
RoNW (%)25.34
P/BV Ratio0.01
Company NameVision Infra Equipment Solutions
EPS (Basic)15.97
EPS (Diluted)15.97
NAV (per share) (Rs)66.82
P/E (x)10.94
RoNW (%)20.68
P/BV Ratio2.64
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 47,97,643 (49.98%) | NA |
| − Anchor Investor Shares Offered | 28,78,500 (29.99%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 19,19,143 (19.99%) | NA |
| NII (HNI) Shares Offered | 14,39,933 (15.00%) | NA |
| − bNII > ₹10L | 9,59,955 (10.00%) | 571 |
| − sNII < ₹10L | 4,79,978 (5.00%) | 285 |
| Retail Shares Offered | 33,61,972 (35.02%) | 28,016 |
| Total Shares Offered | 95,99,548 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered47,97,643 (49.98%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered28,78,500 (29.99%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered19,19,143 (19.99%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered14,39,933 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered9,59,955 (10.00%)
Maximum Allottees571
Investor Category− sNII < ₹10L
Shares Offered4,79,978 (5.00%)
Maximum Allottees285
Investor CategoryRetail Shares Offered
Shares Offered33,61,972 (35.02%)
Maximum Allottees28,016
Investor CategoryTotal Shares Offered
Shares Offered95,99,548 (100.00%)
Maximum Allottees
Information about company
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, Netherlands, Belgium, South Africa, Australia, and the UK—the company has built a strong reputation for quality, customisation, and service excellence.
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.
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, wit 815 new an 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 guarantees consistent quality and performance through rigorous compliance with 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.
Competitive Strength:
A leading exporter of construction machines in the UAE and USA through subsidiaries.
Refurbishment, reuse, and contribution to circular economy along with environmental responsibility.
Diversified Market Presence and Optimised Machine Solutions.
Efficient supply chain infrastructure supporting its export trading of construction machines.
Objectives of IPO
The Company Jinkushal Industries IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Funding the working capital requirements of the Company
72.68
2
General Corporate Purposes
2.14
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