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Jinkushal Industries Ltd IPO

We are engaged in export trading of new/customized and used/refurbished construction machines in global markets. We primarily operate across three primary business verticals; (i) export trading of customized, modified and accessorized new construction machines; (ii) export trading of used/ refurbished construction machines; and (iii) export trading of our own brand `HexL' construction machines (presently in category of backhoe loaders) to cater a diverse international customer base.

Jinkushal Industries Ltd IPO Details

Total Shares Offered

₹ 95,99,548

Offer to Public

9,59,548

Retail Max (Shares)

₹ 33,59,842

Pre Issue Promoters Holding

₹ 2,97,45,786

Exchange

BSE

Issue size

₹ 116.15 Cr

IPO Open Date

Sep 25, 2025

Close Date

Sep 29, 2025

Lot Size

120

Min Investment

₹ 13,800

Issue Type

Book Building

Listing Date

Oct 3, 2025

Jinkushal Industries Ltd IPO Dates

Sep 25, 2025

Opening date

Sep 29, 2025

Closing date

Sep 30, 2025

Basis of Allotment

Oct 1, 2025

Initiation of Refunds

Oct 1, 2025

Credit of Shares

Oct 3, 2025

Listing date

Details

Sector	Type
Sector	Trading
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	14.27x	4799774	68511240
NII	146.39x	1439932	210793920
Retail	47.1x	3359842	158263680
Employee	0x	0	0
Total	45.58x	9599548	437568840

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

14.27x

146.39x

47.1x

45.58x

4799774

1439932

3359842

9599548

68511240

210793920

158263680

437568840

Jinkushal Industries Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	238.59	13.99	11.69
EBITDA	26.57	14.62	12.16
PAT	18.91	10.12	8.57
Total Assets	78.66	30.13	25.34
Share Capital	0.14	0.14	0.14
Total Borrowings	52.33	22.16	24.58
Operating Activities (Net Cash)	19.70	10.75	9.04
Investing Activities (Net Cash)	18.45	8.60	6.55
Financing Activities (Net Cash)	52.33	22.16	24.58
Net Cashflow	6.01	11.33	1.56

About Jinkushal Industries Ltd

Our Company was originally incorporated as `Zenith Tie-Up Private Limited', a private limited company under the erstwhile Companies Act, 1956, pursuant to a certificate of incorporation dated November 27, 2007, issued by the Registrar of Companies, Kolkata, West Bengal. Subsequently, our Company changed its name from `Zenith Tie-Up Private Limited' to `Jinkushal Ispat & Power Private Limited' pursuant to a fresh certificate of incorporation dated October 20, 2009. Subsequently, our Company changed its name from `Jinkushal Ispat & Power Private Limited' to `Jinkushal Industries Private Limited' pursuant to a fresh certificate of incorporation dated January 8, 2014. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at an extraordinary general meeting held on September 25, 2024 and a fresh certificate of incorporation dated October 30, 2024 was issued by the Registrar of Companies, Centeral Processing Center, recording the change in the name of our Company to `Jinkushal Industries Limited'.

The global market for used construction equipment involves the buying and selling of pre-owned machinery and vehicles utilized in the construction sector, The used construction equipment market has shown consistent growth, with an estimated value of USD 132.4 billion in CY24. This growth is mainly fueled by two significant factors: (a) the rise in infrastructure development and construction activities in emerging economies, and (b) the cost-effectiveness of used equipment compared to new machinery. Looking forward, the market is expected to reach USD 177.2 billion by CY29, with a CAGR of 6.0% during the forecast period.

Peer Comparison:

Action Construction Equipment Ltd
Vision Infra Equipment Solutions Ltd

Jinkushal Industries Ltd Key Points

Strengths

Largest exporter of non-OEM construction equipment as per CareEdge Report, in addition to presence in UAE and USA through our Subsidiaries.

Engaged in Refurbishment, reuse, and contribution to circular economy along with environmental responsibility.

Diversified market presence and optimized machines solutions.

We believe we have built an efficient supply chain infrastructure that supports our core business in the export trading of construction machines.

The recent launch of HexL, our brand, marks our transition from other brands' product sales model to own brand, product-driven, customer centric business approach.

Risk

We are heavily dependent on the export market and derive the majority of our revenue from the export trading of construction machines and therefore vulnerable to a range of risks associated with the export market.

Our revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.

A significant portion of our revenue is derived from select geographies such as Mexico and UAE. Any adverse developments in this market could adversely affect our business.

Strategy

Further Integration and Diversification.

Sales Volume Growth.

Efficiency Enhancement and Cost Optimization.

Expansion of Product portfolio.

Create and strengthen our brand recognition.

How To Apply for Jinkushal Industries Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Jinkushal Industries Ltd IPO?

Jinkushal Industries Ltd's IPO offers shares for up to 104.54 It begins on Sep 25, 2025 and ends on Sep 29, 2025.

What is the price of the Jinkushal Industries Ltd IPO?

The price of Jinkushal Industries Ltd IPO ranges between ₹115 to ₹121 per share.

What are the open and close dates for the Jinkushal Industries Ltd IPO?

The Jinkushal Industries Ltd IPO opens on Sep 25, 2025 and closes on Sep 29, 2025.

When will the Jinkushal Industries Ltd IPO be allotted?

The allotment for the Jinkushal Industries Ltd IPO will be finalised on Sep 30, 2025. The shares will be listed on BSE and NSE on Oct 3, 2025.

What is the minimum lot size required for Jinkushal Industries Ltd IPO?

The minimum lot size for Jinkushal Industries Ltd IPO is 120 shares, priced between ₹115 to ₹121 per share.

What is the GMP of Jinkushal Industries Ltd IPO?

The GMP (Grey Market Premium) of Jinkushal Industries Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Jinkushal Industries Ltd IPO?

To check the allotment status of Jinkushal Industries Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Jinkushal Industries Ltd IPO getting listed?

The Jinkushal Industries Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 25, 2025, and closes on Sep 29, 2025. The allotment is finalised on Sep 30, 2025.

How do you apply for the Jinkushal Industries Ltd IPO?

To apply for the Jinkushal Industries Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.