Here are the full details of the Jinkushal Industries Limited IPO, scheduled to open on September 25, 2025, and close on September 29, 2025:
Jinkushal Industries Limited is an export-focused supplier of construction machinery, specializing in manufacturing and trading machinery and equipment for the construction industry.
The company aims to utilize the proceeds from the IPO for business expansion and working capital requirements.
IPO Dates
- Opening Date: September 25, 2025
- Closing Date: September 29, 2025
- Allotment Date: September 30, 2025
- Initiation of Refunds: October1, 2025
- Credit of Shares to Demat: October1, 2025
- Listing Date: October 3, 2025
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹115 to ₹121 per equity share
- Lot Size: 120 shares per lot
- Minimum Investment: ₹14,520 (120 shares × ₹121)
- Issue Size: ₹116.11 crore
- Fresh Issue: ₹104.49 crore
- Offer for Sale (OFS): ₹11.61 crore
- Registrar: Bigshare Services Pvt. Ltd.
- Lead Manager: GYR Capital Advisors Pvt. Ltd.
- Issue Type: Bookbuilding IPO
- Listing At: BSE, NSE
- Share Holding Pre Issue: 2,97,46,000 shares
- Share Holding Post Issue: 3,83,86,000 shares
GMP of Jinkushal Industries Limited IPO
As of September 23, 2025, the Grey Market Premium (GMP) for the Jinkushal Industries Limited IPO is approximately ₹51, which translates to about 42.15% above the upper price band of ₹121 per share.
This suggests a potential listing price around ₹172–₹175 per share, assuming the GMP holds steady until the listing date on October 3, 2025
Key Points:
- GMP Indicator: A GMP of ₹51 indicates strong investor interest and positive market sentiment towards the IPO.
- Market Sentiment: The high GMP suggests that the stock may debut at a healthy premium, reflecting confidence in the company’s prospects.
- Volatility Consideration: GMP figures can fluctuate leading up to the listing date due to market conditions and investor behavior.
Promoters of Jinkushal Industries Limited
The promoters of Jinkushal Industries Limited (JKIPL) are a family-led group with over five decades of experience in machinery, mining, and logistics. They acquired control of the company in 2009, transforming it into a leading exporter of construction machinery. The key promoters are:
- Anil Kumar Jain – Founder and Chairman
- Abhinav Jain – Promoter & Director
- Sandhya Jain – Promoter
- Tithi Jain – Promoter
- Yashasvi Jain – Promoter and Marketing Head
The company is recognized as a Three-Star Export House by the Directorate General of Foreign Trade (DGFT), Government of India, and has exported construction machines to over 30 countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK.
1. Anil Kumar Jain
- Chairman & Managing Director
- Experience: Over 30 years in mining, heavy machinery, and logistics.
- Role: Founder and strategic leader of JKIPL.
- Recognition: Under his leadership, JKIPL was honored with the Economic Times MSME Exporter of the Year Award 2023.
2. Abhinav Jain
- Whole Time Director
- Experience: More than 10 years in business operations and international trade.
- Role: Oversees day-to-day operations and global expansion.
- Recognition: Featured in CEO Magazine and awarded India’s Top Exporter of the Year – Service at the Economic Times MSME Awards.
3. Sandhya Jain
- Role: Co-promoter and shareholder.
- Contribution: Supports strategic initiatives and business growth.
4. Tithi Jain
- Role: Co-promoter and shareholder.
- Contribution: Involved in company operations and strategic planning.
5. Yashasvi Jain
- Promoter & Marketing Head
- Role: Leads marketing and brand development.
- Contribution: Instrumental in establishing the HexL brand and expanding market presence.
Jinkushal Industries Limited IPO Lot Size
Certainly! Here are the lot size details for the upcoming Jinkushal Industries Limited IPO, scheduled to open on September 25, 2025, and close on September 29, 2025:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,520 |
| Retail (Max) | 13 | 1,560 | ₹1,88,760 |
| S-HNI (Min) | 14 | 1,680 | ₹2,03,280 |
| S-HNI (Max) | 68 | 8,160 | ₹9,87,360 |
| B-HNI (Min) | 69 | 8,280 | ₹10,01,880 |
Key Points:
- Retail Investors: Can apply for a minimum of 1 lot (120 shares) and up to a maximum of 13 lots (1,560 shares), totaling an investment of ₹188,760.
- S-HNI Investors: Eligible to apply for a minimum of 14 lots (1,680 shares) and up to a maximum of 68 lots (8,160 shares), with an investment range of ₹203,280 to ₹987,360.
Jinkushal Industries Limited IPO Promoter Holding
As of the latest available information, the promoter holding in Jinkushal Industries Limited (JKIPL) is as follows:
| Promoter Holding Pre Issue | 100% |
| Promoter Holding Post Issue |
Promoter Holding
- Pre-Issue Promoter Holding: Approximately 100%
This indicates that nearly all shares of the company are held by the promoters.
- Post-Issue Promoter Holding: This will be updated after the IPO allotment process.
About Jinkushal Industries Limited
- Jinkushal Industries Limited (JKIPL) is a prominent Indian company specializing in the export of construction machinery, mining services, and logistics solutions.
- Established in 2007 and headquartered in Raipur, Chhattisgarh, JKIPL has evolved from its roots in mining contracting into one of India’s leading exporters of used and refurbished construction equipment.
Core Business Verticals
- Machinery Export & Trading: JKIPL exports a diverse range of construction machinery, including excavators, dozers, motor graders, wheel loaders, rollers, telehandlers, cranes, piling rigs, pavers, and backhoe loaders. The company offers modified, customized, and accessorized new construction machines based on customer specifications.
- Mining Services: The company provides comprehensive mining services, leveraging its extensive experience in the field to deliver efficient and cost-effective solutions.
- Logistics Solutions: JKIPL offers integrated logistics services, ensuring seamless transportation and delivery of machinery and equipment to clients across various regions.
Global Presence
- JKIPL exports to over 30 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 in the international market.
Recognitions & Achievements
- Three-Star Export House: Recognized by the Directorate General of Foreign Trade (DGFT), Government of India, for outstanding export performance.
- Awards: Honored with the Economic Times MSME “Top Exporter of the Year – Service” Award and recognized among the “Top SME Businesses of 2024” by Great Companies.
Proprietary Brand – HexL
- JKIPL has launched its own brand, HexL, for construction machinery. This initiative aims to enhance the company’s market offerings and cater to the growing demand for quality construction equipment.
Jinkushal Industries Limited Financial Information
Here’s a comprehensive overview of the financial performance of Jinkushal Industries Limited (JKIPL), based on the company’s audited financial statements and the Red Herring Prospectus (RHP) for the fiscal years ending March 31, 2023, 2024, and 2025:
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
| Assets | ₹179.35 Crore | ₹109.44 Crore |
| Total Income | ₹385.81 Crore | ₹242.80 Crore |
| Profit After Tax | ₹19.14 Crore | ₹18.64 Crore |
| EBITDA | ₹28.60 Crore | ₹27.57 Crore |
| NET Worth | ₹86.19 Crore | ₹43.07 Crore |
| Total Borrowing | ₹54.82 Crore | ₹46.04 Crore |
Key Performance Indicator (KPI)
Here are some Key Performance Indicators (KPIs) for Jinkushal Industries Limited (JKIPL) IPO, drawn from its DRHP / RHP as of 2025:
| KPI | Values |
|---|---|
| ROE | 28.30% |
| ROCE | 18.39% |
| Debt/Equity | 0.58 |
| RoNW | 21.22% |
| PAT Margin | 5.03% |
| EBITDA Margin | 7.52% |
| Price to Book Value | 4.18 |
Objects of the Issue (Jinkushal Industries Limited IPO Objectives)
Here are the Objects of the Issue (i.e. the IPO objectives) for Jinkushal Industries Limited:
Objects of the Issue
1) Funding Working Capital Requirements
- The company proposes to use ₹72.67 crore (or ₹726.75 million) from the fresh issue proceeds for its long-term incremental working capital needs.
2) General Corporate Purposes
- The remaining amount of the net proceeds will be used for general corporate purposes.
Strengths of Jinkushal Industries Limited IPO
1) Strong Export / Global Presence
- JKIPL exports to over 30 countries. It operates subsidiaries in the UAE (Hexco Global FZCO) and the USA, which helps with global reach, customer proximity, brand visibility, and service support.
2) Diversified Business Model
- They do not just export new machines; their model includes used/refurbished machinery, customization/modification/accessorising, and also their own brand (HexL). This diversity helps them respond to different customer segments and possibly buffer against dips in any one vertical.
3) Refurbishment Capability & Value Addition
- JKIPL has an in-house refurbishment facility (Raipur) with skilled technicians. They refurbish, test, and deliver, which adds value, reduces dependency on new machines, and taps into demand for cost-effective machinery, especially in markets where buyers may prefer refurbished.
4)Strong Supplier Network
- They have a broad procurement base (228 suppliers, including contractors, traders, manufacturers), which gives them flexibility in sourcing machines, refurbishment parts, and may help with negotiating terms or alternate sourcing if needed.
5) Revenue Growth / Track Record
- Revenues have grown significantly. For example, 2025 saw ~59% year-on-year growth in revenues vs 2024. Profits have also increased, though moderately.
Risks of Jinkushal Industries Limited IPO
1) Rising Costs & Margin Pressure
- Their DRHP shows that expenses (input, operational, export, logistics etc.) have increased significantly, sometimes faster than revenue, compressing margins. Having growth in revenues doesn’t guarantee proportional profit growth.
2) Heavy Dependence on Export Markets
- A large portion of revenue comes from exports, particularly certain geographies (Mexico, UAE). This exposes the company to risks like: changes in trade policies, import/export duties, foreign exchange fluctuations, geopolitical instability or disruption in those countries.
3) Customer Concentration
- A substantial fraction of revenue arises from a limited set of large customers. Loss of any major customer or a large order failing to materialize could materially affect performance.
4) Working Capital & Cash Flow Strain
- The business requires significant working capital — tied up in inventory, refurbishing, export cycles, receivables etc. Negative or weak cash flows in some periods could strain operations or require additional funding.
5) Dependence on Third-Party Suppliers / Vendors
- Customization, refurbishment and parts often depend on third-party vendors. Disruptions, delays, or quality issues in supplies could hurt delivery timelines or cost. Also, top few suppliers make up a large part of procurement, increasing supplier risk.
Jinkushal Industries Limited Contact Details
Here are the contact details for Jinkushal Industries Limited (from their IPO disclosures and official sources):
Registered / Head Office Address
H. No. 260, Ward No. 42, Opposite C. M. House, Near Chhattisgarh Club, Civil Lines, Raipur, Chhattisgarh, 492001
Phone Numbers
- General / Head Office: +91 77091 71934
- Investor / Registrar Contact (Bigshare Services Pvt. Ltd.): +91 22 6263 8200
Email Addresses
- General / Company Compliance: compliance@jkipl.in
- Investor / Registrar: ipo@bigshareonline.com
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