Raipur-based Jinkushal Industries Limited (JKIPL), India’s largest non-OEM construction machines exporter, has announced its ₹116 crore initial public offering (Jinkushal Industries IPO), with a price band set at ₹115 to ₹121 per share.
The Jinkushal Industries IPO will open for subscription on September 25 and close on September 29.
At the upper end of the price band, the company is valued at approximately ₹464 crore, according to its red herring prospectus.
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Jinkushal Industries IPO Structure
The Jinkushal Industries IPO comprises a fresh issue of up to 86.35 lakh equity shares and an offer for sale (OFS) of up to 9.59 lakh equity shares, each carrying a face value of ₹10.
The company intends to utilize ₹72.67 crore from the net proceeds of the fresh issue towards long-term incremental working capital requirements, while the remaining funds will go towards general corporate purposes.
Company Profile and Market Presence
Promoted by Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain, and Yashasvi Jain, Jinkushal Industries specializes in the export trading of new, customized, and refurbished construction machines. Recognized as a Three-Star Export House by DGFT, the company exports to more than 30 countries, including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK.
The company’s product portfolio includes hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers.
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Financial Performance
In FY25, Jinkushal Industries reported ₹380 crore in revenue from operations, reflecting a 59.5% year-on-year growth. The listed peers identified in the RHP include Action Construction Equipment Limited and Vision Infra Equipment Solutions Limited.
Operational Capabilities
JKIPL operates a 30,000 sq. ft. refurbishment facility in Raipur, Chhattisgarh, equipped with advanced machinery such as hydraulic cranes, plasma cutting systems, MIG welding units, and sandblasting equipment, ensuring adherence to international refurbishment standards.
Jinkushal Industries IPO Lead Manager
GYR Capital Advisors Private Limited has been appointed as the sole Book Running Lead Manager (BRLM) for the Jinkushal Industries IPO.
