Jinkushal Industries shares make a flat debut; stocks list at 3% premium on BSE, NSE

Shares of Jinkushal Industries made a muted stock market debut on Friday, October 03 as the export and trading company settled at Rs 125, a premium of 331 per cent over its issue price of Rs 121 on NSE both BSE and NSE. As of the listing price, investors made a profit of Rs 480 on each lot consisting of 120 equity shares.

Listing of Jinkushal Industries has been much below the expectations. Ahead of its debut, it was commanding a grey market premium (GMP) of Rs 20 per shares in the unofficial market, suggesting a listing pop of 16-17 per cent for the investors. The stock has been listed in 'T' Group segment, implying a 5 per cent circuit filter for 10 session and prohibiting intraday buy and selling.

The IPO of Jinkushal Industries was open for bidding between September 25 and September 29, 2025. It had offered its shares in the price band of Rs 115-121 per share with a lot size of 120 shares. The company raised a total of Rs 116.16 crore from its IPO, which included a fresh share sale of Rs 104.54 crore and offer-for-sale (OFS) of up to 9,59,548 shares worth Rs 11.61 crore.

The issue was overall subscribed 65.10 times, attracting nearly 12.24 lakh applications and bids worth Rs 5,300 crore. The portion for qualified institutional bidders (QIBs) was booked 35.66 times, while the quota for non-institutional investors (NIIs) was subscribed 146.39 times. The allocation for retail investors was subscribed 47.10 times.

Founded in November 2007, Raipur-based Jinkushal Industries 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 issue saw limited traction from the brokerage firms and those tracking the issue had mostly positive views on the company. GYR Capital Advisors was the sole book running lead manager for Jinkushal Industries and Bigshare Services was appointed as the registrar of the issue.