Jinkushal Industries IPO Price: ₹472 to ₹496 per share
IPO Dates: 25th September 2025 – 29th September 2025
Company Overview
Founded in November 2007, Jinkushal Industries Limited is a global export trading company specializing in construction machinery. With operations spanning more than thirty countries—including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK—the company has established a strong reputation for quality, customization, and service excellence.
Business Verticals
The company operates through three primary business segments:
- HexL Brand Machines: Under its proprietary brand, HexL, the company currently manufactures and exports backhoe loaders designed for durability, performance, and value across global markets.
- Export of New Construction Machines: Jinkushal provides customised, modified, and accessorised machines tailored to client-specific operational and regional needs.
- Export of Used and Refurbished Machines: Offering cost-effective alternatives, the company rigorously refurbishes pre-owned machines to meet strict quality and performance standards.
Operations and Facilities
As of April 2025, Jinkushal Industries had supplied over 1,500 construction machines, including 900 new units and 600 refurbished ones. The company showcased impressive growth by delivering 1,171 machines in the nine months ended December 31, 2024, comprising 815 new and 356 refurbished units.
Its in-house Refurbishment Facility, staffed by 48 skilled employees, plays a pivotal role in reconditioning and customising pre-owned machinery to client specifications. To expand capacity, Jinkushal also collaborates with independent refurbishment centres that follow its strict standard operating procedures and technical guidelines.
With a procurement network of 228 suppliers—including 172 contractors, 51 traders, and five manufacturers—the company ensures a robust and efficient supply chain. As of December 31, 2024, it employed 90 permanent staff and 21 interns.
Competitive Strengths
- Leading exporter of construction machinery in the UAE and USA through subsidiaries.
- Strong contribution to the circular economy through refurbishment and reuse initiatives.
- Diversified market presence with tailored machine solutions for global clients.
- Efficient supply chain infrastructure ensuring reliable delivery and operations.
Bidding Starts In
Jinkushal Industries IPO Specifics:
| IPO Date | September 25, 2025 to September 29, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹115 to ₹121 per share |
| Lot Size | 120 Shares |
| 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 | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,97,46,000 shares |
| Share Holding Post Issue | 3,83,86,000 shares |
Jinkushal Industries IPO Timetable (Important Dates)
| IPO Open Date | Thursday, September 25 2025 |
| IPO Close Date | Monday, September 29 2025 |
| Tentative Allotment | Tuesday, September 30 2025 |
| Initiation of Refunds | Wednesday, October 1 2025 |
| Credit of Shares to Demat | Wednesday, October 1 2025 |
| Listing Date | Friday, October 3 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 26, 2025 |
Jinkushal Industries IPO Lot Size
Bidders have the opportunity to bid for a minimum of 120 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,520 |
| Retail (Max) | 13 | 1560 | ₹1,88,760 |
| S-HNI (Min) | 14 | 1680 | ₹2,03,280 |
| S-HNI (Max) | 68 | 8160 | ₹9,87,360 |
| B-HNI (Min) | 69 | 8280 | ₹10,01,880 |
Jinkushal Industries IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Jinkushal Industries Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|
| Assets | 109.44 | 179.35 |
| Total Income | 242.80 | 385.81 |
| Profit After Tax | 18.64 | 19.14 |
| EBITDA | 27.57 | 28.60 |
| Net Worth | 43.07 | 86.19 |
| Total Borrowing | 46.04 | 54.82 |
Key Performance Indicator – Jinkushal Industries IPO
| KPI | Values |
|---|---|
| Market Cap | ₹464.42 Cr |
| EPS | ₹6.43 |
| P/E (x) | 18.8 |
| ROE | 28.30% |
| ROCE | 18.39% |
| Debt/Equity | 0.58 |
| RoNW | 21.22% |
| PAT Margin | 5.03% |
Objects of the Issue:
Jinkushal Industries Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Funding Working Capital Requirements: ₹726.75 million will be allocated to meet the company’s working capital needs, ensuring smooth operations and supporting business growth.
- General Corporate Purposes: The balance funds will be utilized for general corporate activities, including administrative expenses, business development, and other strategic initiatives.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
