Jinkushal Industries share price: Stock debuts at over 3% premium on NSE, BSE; here's how much investors gained per lot

Jinkushal Industries share price: Shares of Jinkushal Industries made a tepid stock market debut on Friday, October 3.

The stock started trading at ₹125 per unit on the National Stock Exchange (NSE) and the BSE. This reflects a premium of 3.31% over the IPO issue price of ₹121 per share.

Jinkushal Industries share price: Here's how much investors gained per lot

The ₹116.15 crore IPO was a fresh issue of 86.40 lakh shares valued at ₹104.54 crore and an offer-for-sale (OFS) of 9.6 lakh shares aggregating to ₹11.61 crore by promoters Anil Kumar Jain, Sandhya Jain and Abhinav Jain.

The funds raised will be used towards working capital requirements and corporate general purposes.

The initial public offering fetched a 65.10 times subscription, as it received bids for 43,75,69,560 equity shares as against 67,21,048 shares on offer, as per the consolidated data on the NSE website.

The quota set aside for non-institutional investors (NIIs) got a whopping 146.39 times subscription, while the category reserved for retail individual investors was subscribed 47.10 times. The qualified institutional buyers' portion secured a 35.66 times subscription.

Prior to the IPO, the company had collected ₹35 crore from anchor investors, including Nomura Singapore, Viney Growth Fund, Steptrade Revolution Fund, HDFC Bank, Santosh Industries and Swyom India Alpha Fun

Based in Chhattisgarh, the firm is engaged in the export trading of new and used construction machines in global markets. It specialises in the export trading of construction equipment, including motor graders, backhoe loaders, hydraulic excavators, soil compactors, bulldozers, wheel loaders, cranes, and asphalt pavers.

The company has supplied over 1,500 construction machines, comprising more than 900 new (with customisation or accessorised) and 600-plus refurbished or used construction machines.