Jinkushal Industries IPO: Price, Analysis, Allotment, And GMP

Jinkushal Industries IPO - Company Analysis

Jinkushal Industries IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 116.15 Cr by Jinkushal Industries Ltd., and is one of India's biggest exporters of non-OEM construction equipment is Jinkushal Industries Limited, which was established in 2007 and has its headquarters in Raipur, Chhattisgarh. 

The business engages in leasing, logistics, mining support services, refurbishing, and the export trading of new and old construction equipment. It exports equipment to more than 30 countries and is acknowledged by the Indian government as a Three-Star Export House.

The foundation of Jinkushal's business is the provision of pre-owned machinery that has been reconditioned, tailored, altered, and embellished, as well as the introduction of its own line of construction equipment. Backhoe loaders, cranes, dozers, excavators, motor graders, rollers, telehandlers, wheel loaders, and piling rigs are among the products offered.

Jinkushal Industries IPO Details

The Jinkushal Industries Ltd IPO open date is from Sep 25 to Sep 29, with IPO allotment on Sep 30, refund initiation on Oct 01, 2025.

The Rs. 116.15 Cr mainline IPO comprises a combination of fresh issue of 0.86 crore shares (Rs. 104.54 Cr) and an offer for sale (OFS) of 0.10 crore shares (Rs. 11.61 Cr).

The Jinkushal Industries IPO listing date might be on Friday, 03 October 2025, and it will be listed at the BSE and NSE. The Jinkushal Industries IPO price band is Rs. 115 to Rs. 121 for each Share. 

Events	Date
IPO Opening Date	September 25, 2025
IPO Closing Date	September 29, 2025
IPO Allotment Date	September 30, 2025 (Tentative)
Refund Initiation	October 1, 2025 (Tentative)
Tentative IPO Listing Date	October 3 2025

 

Industry Outlook

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Financial 

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024
Total Assets	179.35	109.44
Total Income	385.81	242.80
Profit After Tax (PAT)	19.14	18.64
EBITDA	28.60	27.57
Net Worth	86.19	43.07
Borrowings	54.82	46.04

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in lac)

Net Cash Flow In Multiple Activities	FY23	FY24	FY25
Net Cash Flow from Operating Activities	1,052.76	(2,383.42)	(1,124.67)
Net Cash Flow from Investing Activities	(461.70)	(739.22)	(556.53)
Net Cash Flow from Financing Activities	385.95	2,762.32	1,329.92

 

Revenue Bifurcation 

Revenue from Operations Breakdown

Verticals-wise Revenue Breakdown

(Source RHP)

The Objective of The Issue

• Meeting the needs for working capital.
  
  

• Financing general business objectives.
  
  

• Fostering the expansion of equipment brands, trading, and renovation.

Click to check the IPO application status.

Listed Peers of Jinkushal Industries Ltd.

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Action Construction Equipment	2	34.39	31.18
Vision Infra Equipment Solutions	10	15.97	10.94

 

Valuation

Metric	Value
ROE	28.30%
ROCE	18.39%
Debt/Equity	0.58
RoNW	21.22%
PAT Margin	5.03%
EBITDA	7.52%
PB Value	4.18

 

 

Evaluation of P/E Ratio

Considering the period of FY 2025, with an EPS of Rs. 6.15 from the last year, the resulting P/E ratio is 19.67x. When compared with the industry’s average P/E of 21.06x, it indicates a justified price bid (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors

Explore the BMW Ventures IPO.

IPO's Strengths

• Robust construction equipment export business with over 30 international markets.
  
  

• Broad range of products in several heavy machinery areas.
  
  

• Acknowledged as a Three-Star Export House with government certification.
  
  

• Steady sales growth and a high ROE.
  
  

IPO’s Weaknesses

• Modest PAT margins in contrast to peers with larger listings.
  
  

• International demand cycles have a significant impact on business.
  
  

• Competition from big original equipment manufacturers.
  
  

• Variations in the EBITDA margin (range: 6–10%) during FY23–FY25.

 

Jinkushal Industries IPO GMP 

Jinkushal Industries IPO GMP today is Rs. 51 as of 23 Sep 2025, while writing this information. Hence, the Jinkushal Industries IPO listing price (estimated) might be Rs. 172 (upper price + current GMP or grey market premium).

 

Jinkushal Industries Limited IPO Summary

IPO Opening & Closing Date	Sep 25, 2025 to Sep 29, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 115 to Rs. 121
Lot Size	120 Shares
Issue Size	95,99,548 Shares (Rs. 116.15 Cr)
Offer for Sale	9,59,548 Shares (Rs. 11.61 Cr)
Fresh Issue	86,40,000 Shares (Rs. 104.54 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	Bigshare Services Pvt. Ltd.

 

 

Jinkushal Industries IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (120 Shares) amounting to Rs. 14520 and 13 Lots (1560 Shares) amounting to Rs. 1,88,760, respectively, while for S-HNI investors, the minimum Lot is 14 (1680 Shares) amounting to Rs. 2,03,280.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	68 Lots
BHNI (Minimum)	69 Lots

 

Jinkushal Industries IPO Reservation

Institutional Share Portion	50%
Retail Investors' Share Portion	35%
Non-Institutional Shares Portion	15%

Jinkushal Industries IPO Allotment Status

To check the Jinkushal Industries IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Jinkushal Industries Ltd.

• Anil Kumar Jain
  
  

• Abhinav Jain
  
  

• Sandhya Jain
  
  

• Tithi Jain
  
  

• Yashasvi Jain.

Pre-Issue Promoter Shareholding	99%
Post-Issue Promoter Shareholding	-

 

Jinkushal Industries IPO Lead Managers

• GYR Capital Advisors Pvt. Ltd.

Dividend Policy

The company has not paid a dividend during the last three fiscal years.

Conclusion

The Jinkushal Industries IPO gives investors a chance to get involved in India's rapidly expanding export market for construction equipment. The business is in a good position thanks to its robust ROE, sales growth, and leadership in non-OEM exports. Modest margins and fierce OEM rivalry, however, continue to be issues. This IPO may appeal to risk-tolerant investors seeking exposure to the global infrastructure export narrative.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.