Jinkushal Industries was incorporated on November 27, 2007. The company is engaged in the export of new, customised, and refurbished construction machines globally. It operates across three verticals, including its own ‘HexL’ brand. As the largest non-OEM exporter in India, JKIPL serves 30+ countries and focuses on meeting diverse technical and performance needs through in-house and outsourced customisation
| Bidding Dates |
|---|
| 25 Sep 2025 - 29 Sep 2025 |
| Subscription |
|---|
| 65.1x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,800 | 1 | 13 | 120 | 9.6 M | ₹115 - ₹121 | 74.99 % | ₹1103.9 M - ₹1161.5 M | RHP DOC |
Jinkushal Industries IPO SUBSCRIPTION STATUS
29 Sep '25Jinkushal Industries IPO overall subscription rate was 65.1 times the total available shares
Jinkushal Industries IPO retail subscription rate was 47.1 times in the retail segment
Jinkushal Industries IPO non-institutional investor subscription rate was 146.39 times in the non-institutional investor category
Jinkushal Industries IPO Qualified Institutional Bidder subscription rate was 35.66 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Sep 2025 (Day 3) | 47.1x | 146.39x | 35.66x |
26 Sep 2025 (Day 2) | 7.28x | 6.79x | 0.04x |
25 Sep 2025 (Day 1) | 3.28x | 3.01x | 0.02x |
Jinkushal Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 380.6 | 19.1 | -11.2 | -11.1 | 7.5% |
| FY24 | 238.6 | 18.6 | -23.8 | -25.2 | 11.6% |
| FY23 | 233.5 | 10.1 | 10.5 | 5.8 | 6.3% |
| Note: FY23 financials are standalone basis | |||||
Jinkushal Industries IPO SUBSCRIPTION STATUS DETAILS
Jinkushal Industries had 9.6 M shares on offer
Jinkushal Industries IPO offer price was in the range ₹115 - ₹121
Jinkushal Industries IPO minimum Investment was ₹13800
Jinkushal Industries IPO issue size was ₹ 1103.9 M - ₹ 1161.5 M
Jinkushal Industries had a minimum lot size of 120 Shares per application
Jinkushal Industries NUMBER OF SHARES ON OFFER
Jinkushal Industries IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2025 |
| Issue close Date | 29 Sep 2025 |
| Allotment Date | 30 Sep 2025 |
| Refund Date | 01 Oct 2025 |
| Demat Account Credit Date | 01 Oct 2025 |
| Listing Date | 03 Oct 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Jinkushal Industries Allotment Status | Exchange/ Registrar |
Jinkushal Industries IPO subscription opened on 25 Sep 2025, and closed on 29 Sep 2025
IPO allotment for Jinkushal Industries was finalized on Tuesday, 30 Sep 2025
IPO listing for Jinkushal Industries was on NSE and BSE on Friday, 03 Oct 2025
Jinkushal Industries IPO LISTING GAINS
| Issue Price (adjusted) | 121.0 |
| Listing Open Price | 125.0 |
| Listing Close Price | 121.7 |
| Listing Gain% | 3.3% |
| Current Gain% | -16.9% |
Jinkushal Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jinkushal Industries Ltd. | 100.5 | 385.7 | 31.9 | -0.9 | 1.1 | 6.2 | 3.3 | 359.6 | -6.8 | 12.1 | -33.9 | 3.1 | -33.9 |
| Sagility Ltd. | 43.7 | 20443.4 | 20.6 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 355.8 | 15376.2 | 25.2 | 1 | 11.3 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 29.4 | 6855.8 | 16.4 | 0 | 6.2 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 435 | 6146.2 | 41.9 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 538.8 | 4462.3 | 38.8 | 1.5 | 6 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
Jinkushal Industries IPO Reports
Jinkushal Industries INFORMATION ON IPO ISSUE
About Jinkushal Industries
Jinkushal Industries was incorporated on November 27, 2007. The company is engaged in the export of new, customised, and refurbished construction machines globally. It operates across three verticals, including its own ‘HexL’ brand. As the largest non-OEM exporter in India, JKIPL serves 30+ countries and focuses on meeting diverse technical and performance needs through in-house and outsourced customisation
Object of the Issue
- To meet the working capital requirements
- General corporate purposes
Jinkushal Industries - PROMOTERS
| Name |
|---|
| Anil Kumar Jain |
| Abhinav Jain |
| Sandhya Jain |
| Tithi Jain |
| Yashasvi Jain |
Jinkushal Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Anil Kumar Jain | Chairman & Managing Director |
| Abhinav Jain | Whole-Time Director |
| Sumeet Kumar Berlia | Executive Director & Chief Financial Officer |
| Niteen Jain | Independent Director |
| Anekant Jain | Independent director |
| Namrata Tatiya | Independent Director |
Jinkushal Industries Book Running Lead Manager
GYR Capital Advisors Private Limited
maitri.thakkar@gyrcapitaladvisors.com
Jinkushal Industries Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Jinkushal Industries Strengths
Diversified product portfolio
The company offers a wide range of construction machines across global markets, reducing reliance on any single product or region. Its portfolio includes new branded machines, refurbished equipment, and accessorised models from other brands, supporting various infrastructure needs. This diversity enhances customer retention, enables cross-selling, and improves resilience to market fluctuations
Supply chain network
The company has built a robust and efficient supply chain comprising 228 suppliers and multiple third-party refurbishment centres across India and the UAE. This network supports the sourcing and customisation of a wide range of construction machines based on customer needs
Branded product expansion
The launch of the HexL brand marks a key shift from selling third-party products to offering self-branded construction machines. Through contract manufacturing, the company maintains control over specifications, quality, and performance standards without owning production facilities
Jinkushal Industries Risks
Export market dependence
The company derives around 99% of its revenue from exports, making it highly vulnerable to global trade uncertainties. Exposure to changing international regulations, tariffs, sanctions, and diplomatic tensions increases the risk of supply chain disruptions, rising compliance costs, and potential loss of market access
Geographic revenue concentration
A large share of the company’s revenue comes from Mexico and the United Arab Emirates. Any political, economic, or regulatory disruptions in these key markets may result in order cancellations, payment delays, or customer loss, potentially affecting cash flows and long-term growth
Dependence on third-party suppliers
The company relies heavily on third-party domestic and international suppliers for construction machines without long-term contracts. This dependence exposes operations to risks such as supply delays, price volatility, and foreign trade disruptions, which may adversely affect margins, delivery schedules, and overall financial performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 11.6 crore, of 959,548 shares. It also consists of a fresh issue of Rs 104.5 crore.
The promoters of the company are Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain and Yashasvi Jain.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 115.0 - 121.0.
The IPO application opens on Sep 25, 2025 and closes on Sep 29, 2025.
The minimum lot size for the IPO is 120. The maximum lot size for the IPO is 1560.
For all category investors, the minimum application amount for this IPO is Rs. 13,800.0, the maximum value for this IPO is Rs 188,760.0.
This IPO will be allotted on Sep 30, 2025.
The refund will be credited to your account on Oct 01, 2025.
The allotted shares will be credited to your demat on Oct 01, 2025.
Jinkushal Industries Ltd.’s shares listed on the stock exchanges on Oct 03, 2025.