Jinkushal Industries IPO will open for subscription on September 25, 2025, and closes on September 29, 2025. Founded in November 2007, Jinkushal Industries Limited is an export trading company specialising in supplying construction machinery across global markets.
The company has built a presence in more than thirty countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK. It has established itself as a trusted partner known for quality, customisation, and service excellence.
Further details on the IPO will cover the issue size, price band, minimum investment amount, business model, financial performance, and risk factors.
Jinkushal Industries IPO Date
The key pointers for the Jinkushal Industries IPO dates are:
- Bidding Opening Date: September 25, 2025
- Bidding Closing Date: September 29, 2025
- Allotment Date: September 30, 2025
- Initiation of Refunds (in case of less or no allotment): October 1, 2025
- Shares Credited to Your Demat Account: October 1, 2025
- IPO Listing Date: October 3, 2025
- Listing on Exchange: BSE and NSE
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Jinkushal Industries: IPO Issue Size
Jinkushal Industries IPO valuation, as denoted by the market capitalisation, stood at ₹464.42 crores. Here are the essential details:
- Jinkushal Industries IPO Price Band: ₹115 to ₹121 per share
- Lot Size: 120 Shares
- Issue Size and Amount: 96 lakh shares (aggregating up to ₹116.15 crores)
- Fresh Issue and Amount: 86 lakh shares (aggregating up to ₹104.54 crores)
- Offer for Sale and Amount: 9.5 lakh shares of ₹10 (aggregating up to ₹11.61 crores)
Jinkushal Industries IPO Proceeds Usage
The net proceeds from the Jinkushal Industries IPO are proposed to be utilised for the following purposes:
- Working Capital Requirements: To fund the company’s long-term incremental working capital needs.
- General Corporate Purpose: To be used for broader business requirements and other strategic corporate objectives.
Jinkushal Industries IPO Reservations
Jinkushal Industries IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Offer
- For NIIs: Not less than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
Jinkushal Industries IPO Lot Size
Jinkushal Industries IPO lot size is 120 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,520 |
| S-HNI (Min) | 14 | 1,680 | ₹2,03,280 |
| B-HNI (Min) | 69 | 8,280 | ₹10,01,880 |
Jinkushal Industries IPO Details: Promoter Holding
The promoters of the company are Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain, and Yashasvi Jain.
Jinkushal Industries Limited: Company Overview
Jinkushal Industries Limited, founded in November 2007, is an export trading company that supplies construction machinery to global markets.
The company operates in more than thirty countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK. It is known for its focus on quality, customisation, and strong customer service.
Business Areas
Its business is structured around three main areas. The first is the export of customised, modified, and accessorised new construction machines, which are tailored to meet the specific needs of different clients and regions.
The second is the export of used and refurbished machines, which provide cost-effective and reliable alternatives that are reconditioned to meet strict quality standards.
The third vertical is its proprietary brand, HexL, under which it exports backhoe loaders designed for durability, performance, and value.
Supplies and Network
As of September 15, 2025, Jinkushal had supplied more than 1,500 construction machines, with 900 new and 600 used or refurbished units.
Supporting this, the company operates an in-house refurbishment facility with 48 skilled employees, ensuring machines are reconditioned to meet customer requirements and technical standards. It also works with independent refurbishment centres that follow its guidelines to maintain consistency in quality.
The company has a vast procurement network, which includes 228 suppliers as of March 2025, comprising 172 contractors, 51 traders, and five manufacturers. At the same time, it employed 90 permanent staff and 21 interns. With its infrastructure, international reach, and customer-focused approach, Jinkushal has continued to strengthen its position in the global construction equipment trade.
Key Strengths
Its competitive advantages include being a leading exporter of construction machinery in the UAE and USA through its subsidiaries, contributing to sustainability by promoting refurbishment and reuse, having a diversified global market presence, and maintaining an efficient supply chain to support its export operations.
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- 20 Lac+ unique clients
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Jinkushal Industries Limited: Financial Performance
Jinkushal Industries Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 | 31 Mar 2024 | YoY Change |
|---|---|---|---|
| Total Income | 385.81 | 242.80 | 59% |
| Profit After Tax (PAT) | 19.14 | 18.64 | 3% |
| EBITDA | 28.60 | 27.57 | 4% |
| Net Worth | 86.19 | 43.07 | 100% |
| Assets | 179.35 | 109.44 | 64% |
| Total Borrowing | 54.82 | 46.04 | 19% |
- Revenue Growth: Total income rose by 59%, increasing from ₹242.80 crore in FY24 to ₹385.81 crore in FY25, showing solid growth in global construction machinery exports.
- Profitability: PAT improved modestly by 3%, moving from ₹18.64 crore in FY24 to ₹19.14 crore in FY25, reflecting steady earnings despite rising costs.
- EBITDA Performance: EBITDA grew by 4%, rising from ₹27.57 crore in FY24 to ₹28.60 crore in FY25, indicating stable operating performance.
- Strengthened Net Worth: Net worth doubled from ₹43.07 crore in FY24 to ₹86.19 crore in FY25, supported by retained earnings and overall business expansion.
- Asset Base: Total assets increased by 64%, climbing from ₹109.44 crore in FY24 to ₹179.35 crore in FY25, reflecting a higher scale of operations.
- Debt Position: Borrowings went up by 19%, from ₹46.04 crore in FY24 to ₹54.82 crore in FY25, mainly to support working capital and business growth.
Jinkushal Industries IPO: Peer Comparison
Here’s the peer comparison table for Jinkushal Industries Limited with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Jinkushal Industries Limited | 6.15 | 18.8 | 21.22 |
| Action Construction Equipment Limited | 34.39 | 31.18 | 25.34 |
| Vision Infra Equipment Solutions Limited | 15.97 | 10.94 | 20.68 |
- EPS: Jinkushal Industries has the lowest EPS of ₹6.15 as compared to Vision Infra and Action Construction, which means it’s earning less per share than the others.
- P/E Ratio: Its P/E ratio of 18.8 is lower than Action Construction’s, suggesting it’s more reasonably priced, but higher than Vision Infra’s, which could mean it’s a bit more expensive relative to its earnings.
- RoNW: Jinkushal’s return on net worth is 21.22%, which is better than Vision Infra but slightly behind Action Construction.
Jinkushal Industries IPO Risk Factors
Jinkushal Industries IPO GMP is ₹42 as of September 24, 2025 (at 15:35). It is expected to list at a 34.71% gain at a price of ₹163. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Jinkushal Industries’ IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Export Market Dependence: The company earns most of its revenue from exporting construction machines, which makes it highly dependent on international markets. Operating globally exposes it to challenges such as compliance with changing foreign laws, shifting trade policies, and regulatory complexities. These factors, along with rising compliance costs and possible liabilities, could create significant operational and financial risks.
- Geographic Concentration: A large share of the company’s revenue comes from specific markets, particularly Mexico and UAE. Any negative economic, political, or regulatory changes in these countries could directly impact its operations, financial performance, and long-term growth prospects.
- Supplier Reliance: Jinkushal depends on third-party suppliers for construction machines and does not have long-term procurement contracts. This leaves it exposed to risks like price fluctuations, supply shortages, and changes in supplier priorities. If suppliers fail to deliver the required quality or quantity on time, or face insolvency or disruptions, the company’s ability to fulfil customer orders could be seriously affected.
For all the insights on Jinkushal Industries IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Jinkushal Industries IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When will the Jinkushal Industries IPO open and list on the stock exchanges?
The IPO will open for subscription on September 25, 2025, and close on September 29, 2025. The allotment is scheduled for September 30, 2025, with shares expected to list on October 3, 2025, on both BSE and NSE.
2. What is the price band, lot size, and minimum investment for retail investors?
The price band is set at ₹115 to ₹121 per share, and the lot size is 120 shares. The minimum retail investment is ₹14,520 for one lot, while the maximum is ₹1,88,760 for 13 lots.
3. What is the issue size, and how will the IPO proceeds be used?
The IPO issue size is 95,99,548 shares, aggregating up to ₹116.15 crores, including a fresh issue of ₹104.54 crores and an offer for sale of ₹11.61 crores. The proceeds will mainly be used to meet working capital requirements and for general corporate purposes.
4. How has Jinkushal Industries performed financially in recent years?
In FY25, the company reported a 59% rise in total income, from ₹242.80 crore in FY24 to ₹385.81 crore in FY25. However, PAT increased by only 3%, from ₹18.64 crore to ₹19.14 crore in the same period.
5. What are the key risks investors should consider before applying?
Risks include heavy reliance on exports, which exposes the company to global trade regulations and compliance costs. Significant geographic concentration in markets like Mexico and UAE, makes it vulnerable to local disruptions. Dependence on third-party suppliers without long-term contracts could impact supply, pricing, and timely fulfillment of orders.
References:
https://www.sebi.gov.in/filings/public-issues/sep-2025/jinkushal-industries-limited-rhp_96623.html
https://www.investorgain.com/gmp/jinkushal-industries-ipo-gmp/1439/
Author: All Content is verified by SMC Global Securities.
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