Jinkushal Industries IPO opens 25 September: Check all key details here
Jinkushal Industries has announced the opening of its initial public offering (IPO) for subscription on Thursday, 25 September 2025.
- Sep 16, 2025,
- Updated Sep 16, 2025 11:44 AM IST
Jinkushal Industries has announced the opening of its Initial Public Offering (IPO) for subscription on Thursday, 25 September 2025, with a price band set in the range of Rs 115 to Rs 121 per equity share of face value Rs 10 each. The IPO will close for bidding on Monday, 29 September 2025. The minimum lot size for application is 120 equity shares and in multiples thereafter. Anchor investors will be allocated shares on Wednesday, 24 September 2025.
The offering consists of a fresh issue of 86.35 lakh equity shares and an offer for sale (OFS) of 9.59 lakh shares by promoters. GYR Capital Advisors Pvt. Ltd. oversees the book building process, while Bigshare Services Pvt. Ltd. is the registrar. Not more than 50% of shares are reserved for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% for Retail Individual Investors (RII).
The IPO aims to raise capital primarily to strengthen Jinkushal Industries' long-term incremental working capital, with Rs 72.67 crore earmarked for this purpose. A portion of the proceeds is also allocated to general corporate requirements. The structure reflects a dual focus: enabling growth through operational expansion and ensuring flexibility for future corporate initiatives.
Jinkushal Industries asserts that it is the largest exporter of non-OEM construction machinery, holding a 6.9 percent market share, and competes with publicly listed companies such as Action Construction Equipment and Vision Infra Equipment Solutions. The company further diversifies by offering customised and refurbished construction machinery as well as exporting its proprietary brand, HexL, currently comprising backhoe loaders.
For the fiscal year ended March 2025, Jinkushal Industries reported a net profit of Rs 19.14 crore, a 2.65% increase from Rs 18.6 crore in the previous year. Revenue surged 59.5% year-on-year to Rs 380.6 crore from Rs 238.6 crore. However, the EBITDA margin declined to 6.1% from 9.79%, highlighting intensified competitive pressures or higher input costs.
The IPO’s price band translates into a floor price and cap price that are 11.5 and 12.1 times the equity share face value, respectively. The minimum investment for retail participants is the value of one lot (120 shares), which, at the cap price, totals Rs 14,520. For sNII and bNII categories, the minimum application size will be determined by multiples of the lot. The basis of allotment is expected to be finalised on Tuesday, 30 September, with refunds and credit of shares to Demat accounts scheduled for Wednesday, 1 October. The shares are likely to be listed on both BSE and NSE on Friday, 3 October 2025.
Jinkushal Industries operates in a market with established players, including Action Construction Equipment and Vision Infra Equipment Solutions. With a 6.9% market share as per company claims, it differentiates itself through a focus on non-OEM machinery and exports. The company leverages both customisation and brand presence to attract a diverse client base domestically and internationally.
GYR Capital Advisors Pvt. Ltd. acts as the lead manager for the IPO. Bigshare Services Pvt. Ltd. is the registrar. The company’s reservation structure—50% QIB, 15% NII, and 35% RII—aligns with regulatory norms, ensuring balanced participation across investor categories and supporting post-listing liquidity.
Jinkushal Industries has announced the opening of its Initial Public Offering (IPO) for subscription on Thursday, 25 September 2025, with a price band set in the range of Rs 115 to Rs 121 per equity share of face value Rs 10 each. The IPO will close for bidding on Monday, 29 September 2025. The minimum lot size for application is 120 equity shares and in multiples thereafter. Anchor investors will be allocated shares on Wednesday, 24 September 2025.
The offering consists of a fresh issue of 86.35 lakh equity shares and an offer for sale (OFS) of 9.59 lakh shares by promoters. GYR Capital Advisors Pvt. Ltd. oversees the book building process, while Bigshare Services Pvt. Ltd. is the registrar. Not more than 50% of shares are reserved for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% for Retail Individual Investors (RII).
The IPO aims to raise capital primarily to strengthen Jinkushal Industries' long-term incremental working capital, with Rs 72.67 crore earmarked for this purpose. A portion of the proceeds is also allocated to general corporate requirements. The structure reflects a dual focus: enabling growth through operational expansion and ensuring flexibility for future corporate initiatives.
Jinkushal Industries asserts that it is the largest exporter of non-OEM construction machinery, holding a 6.9 percent market share, and competes with publicly listed companies such as Action Construction Equipment and Vision Infra Equipment Solutions. The company further diversifies by offering customised and refurbished construction machinery as well as exporting its proprietary brand, HexL, currently comprising backhoe loaders.
For the fiscal year ended March 2025, Jinkushal Industries reported a net profit of Rs 19.14 crore, a 2.65% increase from Rs 18.6 crore in the previous year. Revenue surged 59.5% year-on-year to Rs 380.6 crore from Rs 238.6 crore. However, the EBITDA margin declined to 6.1% from 9.79%, highlighting intensified competitive pressures or higher input costs.
The IPO’s price band translates into a floor price and cap price that are 11.5 and 12.1 times the equity share face value, respectively. The minimum investment for retail participants is the value of one lot (120 shares), which, at the cap price, totals Rs 14,520. For sNII and bNII categories, the minimum application size will be determined by multiples of the lot. The basis of allotment is expected to be finalised on Tuesday, 30 September, with refunds and credit of shares to Demat accounts scheduled for Wednesday, 1 October. The shares are likely to be listed on both BSE and NSE on Friday, 3 October 2025.
Jinkushal Industries operates in a market with established players, including Action Construction Equipment and Vision Infra Equipment Solutions. With a 6.9% market share as per company claims, it differentiates itself through a focus on non-OEM machinery and exports. The company leverages both customisation and brand presence to attract a diverse client base domestically and internationally.
GYR Capital Advisors Pvt. Ltd. acts as the lead manager for the IPO. Bigshare Services Pvt. Ltd. is the registrar. The company’s reservation structure—50% QIB, 15% NII, and 35% RII—aligns with regulatory norms, ensuring balanced participation across investor categories and supporting post-listing liquidity.