Jinkushal Industries to launch IPO on September 25, announces price band. Check all details – News Air Insight

Export-oriented construction machinery supplier Jinkushal Industries has set the price band for its upcoming IPO at Rs 115–121 per share. The issue, comprising a mix of fresh equity and an offer for sale (OFS), will open for subscription on September 25 and close on September 29. Shares are expected to list on both the BSE and NSE on October 3.

The total IPO size is Rs 116.11 crore, including a fresh issue of 86.36 lakh shares worth Rs 104 crore and an OFS of 9.60 lakh shares valued at Rs 11.61 crore. At the upper end of the price band, the company’s post-listing market capitalization is estimated at Rs 464.42 crore.

Lot size and investor categories

Investors can bid for a minimum of 120 shares per lot, requiring an investment of Rs 14,520 at the upper end of the price band. Retail investors can apply for up to 13 lots (1,560 shares), while NIIs are required to bid in higher multiples.

As per regulations, 50% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

About the company

Jinkushal Industries is engaged in the export trading of construction machinery, operating in over 30 countries, including the UAE, UK, Mexico, Belgium, South Africa, and Australia. The company’s business spans three verticals—new customized machinery, refurbished machines, and its proprietary HexL brand of backhoe loaders.

To date, it has supplied over 1,500 construction machines, including 900 new and 600 refurbished units. In the nine months ending December 2024, it delivered 1,171 machines. The company also operates an in-house refurbishment facility, supported by a procurement network of 228 suppliers.

Financials and strengths

The company’s revenues rose 59% year-on-year to Rs 385.8 crore in FY25, while net profit increased slightly to Rs 19.1 crore from Rs 18.6 crore in FY24. It reported a return on equity (ROE) of 28.3%, an EBITDA margin of 7.5%, and a debt-to-equity ratio of 0.58.Jinkushal cites its global presence, refurbishment expertise, and robust supply chain as key competitive advantages.

Objects of the issue

Proceeds from the fresh issue will be primarily used to fund working capital requirements of Rs 72.7 crore, with the remainder allocated for general corporate purposes.

GYR Capital Advisors is the book-running lead manager for the IPO, while Bigshare Services will serve as the registrar to the issue.