Jinkushal Industries IPO - Listing Performance & Details

Jinkushal Industries Limited was founded in November 2007 and is headquartered in Raipur, Chhattisgarh. It works in the construction and mining machinery export trading sector.

The company exports new, used and refurbished construction and mining machinery through three business verticals: customised new construction machines, refurbished used machines, and machines under its own brand, HexL, currently offering backhoe loaders. It operates a 30,000 sq ft in-house refurbishment facility in Raipur staffed by 48 skilled employees, along with partnerships with six third-party refurbishment centres in India and one in the UAE. Since pivoting to exports in 2017, the company has supplied over 1,500 machines to more than 30 countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia and the UK, and is recognised by the Indian government as a Three-Star Export House. The company is promoted by Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain and Yashasvi Jain.

Revenue rose 59% and profit after tax rose 3% between FY24 and FY25, with PAT of about Rs 18.6 crore in FY24, as per the DRHP. This was a mainboard IPO, listed on the NSE and BSE, comprising a fresh issue of up to 86.5 lakh equity shares along with an offer for sale of up to 10 lakh equity shares by promoter selling shareholders Anil Kumar Jain, Abhinav Jain and Sandhya Jain, taking the total issue to 96.5 lakh equity shares of face value Rs 10 each, at a price band of Rs 115 to Rs 121 per share, aggregating to about Rs 116.15 crore. Of the net proceeds, up to Rs 72.68 crore was earmarked for funding working capital requirements, with the balance for general corporate purposes.