Jinkushal Industries IPO day 1: Check subscription status, price band, lot size, key dates and more

Jinkushal Industries IPO: The initial public offering of Jinkushal Industries, which specialises in used and new construction equipment, opened for subscription on Thursday, September 25. The issue will conclude on Monday, September 29.

The ₹116.15 crore initial share sale is a mix of 86.36 lakh new shares valued at ₹104.54 crore and an offer for sale (OFS) of ₹11.61 crore by promoters Anil Kumar Jain, Abhinav Jain and Sandhya Jain.

The company intends to use fresh issue proceeds for funding the working capital needs and general corporate purposes.

The price band has been set at ₹115 to ₹121 per share, and a lot consists of 120 shares.

Jinkushal Industries IPO day 1: Subscription status

The issue has been booked 38% so far on the first day of subscription, with bids for 25,58,280 shares compared to 67,21,048 shares on offer, according to the NSE data until 10:34 pm.

Before the IPO, Jinkushal Industries mobilised ₹35 crore from anchor investors, including HDFC Bank, Nomura Singapore, Viney Growth Fund, Santosh Industries, Swyom India Alpha Fund and Steptrade Revolution Fund.

Jinkushal Industries IPO: Allotment and listing dates

Chhattisgarh-based Jinkushal Industries is engaged in export trading of new and used or refurbished construction equipment in global markets. It holds a specialisation in the export trading of construction machines such as hydraulic excavators, backhoe loaders, motor graders, soil compactors, bulldozers, wheel loaders, cranes, and asphalt pavers.

It has supplied more than 1,500 construction machines, consisting of over 900 new (with customisation or accessorisation) and over 600 used or refurbished construction equipment.

It exports construction machines to over 30 nations, including the UAE, the Netherlands, Mexico, Belgium, Australia, South Africa, and the UK.

GYR Capital Advisors is the IPO's sole book-running lead manager, while Bigshare Services is the registrar.

Jinkushal Industries IPO GMP

According to investorgain.com and media reports, Jinkushal Industries' unlisted shares are trading at ₹142 per share, reflecting a grey market premium (GMP) of 17.36% over the upper price band of ₹121.