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Jinkushal Industries IPO
Price Band
₹115.0–121.0
Issue Size
₹116.15 Cr
Lot Size
120 shares
Min Investment
₹14,520
GMP
+₹20.0 (16.53%)
Issue Price
₹121.0
Subject to Sauda
₹1800
Paid only if allotted
Jinkushal Industries IPO AI Summary
- Jinkushal Industries IPO is listed on BSE, NSE in the Dealers-Commercial Vehicles, Tractors, Construction Vehicles sector.
- Price band: ₹115.0–₹121.0 per share, lot size 120 shares (min. investment ₹14,520).
- Subscription window: 25 Sep–29 Sep 2025, listing on 03 Oct 2025.
- Current GMP is +₹20.0 (16.53%), an estimated listing price of ₹141 — unofficial and can change daily.
Jinkushal Industries Limited is set to list on October 3, 2025, following an IPO priced at ₹121.0 per share. The company has shown significant revenue growth and maintains a strong market presence in the construction machinery sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Jinkushal Industries IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 29 Sep 2025 — not a current signal.
2 of 2 reviewers say Neutral
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Jinkushal Industries IPO Grey Market Premium (GMP) Today
GMP
+₹20.0
GMP %
+16.53%
Est. Listing
₹141.0
Updated: 25 Jul 2026 14:15
About the Company
Founded in November 2007, Jinkushal Industries Limited is an export trading company supplying construction machinery globally. Operating in over thirty countries—including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK—the company has built a strong reputation for quality, customisation, and service excellence. The company operates across three primary business verticals: Export trading of customised, modified, and accessorised new construction machines. Delivering tailored solutions to meet client-specific operational and regional requirements. Export trading of used and refurbished construction machines – Offering reliable and cost-effective alternatives, rigorously refurbished to ensure optimal performance and compliance with quality standards. Export trading of its own brand ‘HexL’ construction machines – Under its proprietary brand HexL, the company currently offers backhoe loaders engineered for performance, durability, and value across global markets. As of April 2025, Jinkushal Industries has supplied over 1,500 construction machines, including 900 new and 600 used/refurbished. The company demonstrated rapid growth by supplying 1,171 machines in the nine months ended December 31, 2024, wit 815 new an 356 used/refurbished during this period. The company’s in-house Refurbishment Facility, which is staffed by 48 skilled employees, plays a critical role in customising and reconditioning pre-owned machinery to satisfy customer requirements. This facility guarantees consistent quality and performance through rigorous compliance with technical standards and customer specifications. Furthermore, Jinkushal collaborates with independent, non-exclusive refurbishment centres that adhere to its standard operating procedures and technical guidelines. With a robust infrastructure, global reach, and a customer-first philosophy, Jinkushal Industries Limited continues to scale its operations and strengthen its position as a trusted player in the international construction equipment trade. As of December 31, 2024, the procurement network included 228 suppliers: 172 contractors, 51 traders, and five manufacturers. As of December 31, 2024, the company had 90 permanent employees and 21 interns. Competitive Strength: A leading exporter of construction machines in the UAE and USA through subsidiaries. Refurbishment, reuse, and contribution to circular economy along with environmental responsibility. Diversified Market Presence and Optimised Machine Solutions. Efficient supply chain infrastructure supporting its export trading of construction machines.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 179.35 | 109.44 |
| Total Income | 385.81 | 242.80 |
| Profit After Tax | 19.14 | 18.64 |
| EBITDA | 28.60 | 27.57 |
| NET Worth | 86.19 | 43.07 |
| Total Borrowing | 54.82 | 46.04 |
Key Ratios
EPS
₹6.43
NAV
₹28.98
ROE
28.30%
ROCE
18.39%
RoNW
21.22%
P/B Value
4.18
P/E Ratio
18.8
Market Cap
₹464.42 Cr
PAT Margin
5.03%
Debt/Equity
0.58
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Vision Infra Equipment Solutions | 66.82 | 20.68% | 10.94 | 15.97 | 15.97 |
| Action Construction Equipment | 135.6 | 25.34% | 31.18 | 34.39 | 34.37 |
| Jinkushal Industries This IPO | 28.98 | 21.22% | — | 6.15 | 6.15 |
Promoters
Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain and Yashasvi Jain
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the working capital requirements of the Company 72.68 2 General Corporate Purposes 21.42 3 Issue Expenses 11.62 Total 105.72
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹242.80 Cr in the year ending March 31, 2024, rising to ₹385.81 Cr by March 31, 2025. This indicates a significant growth in revenue over the period.
Profit Trend
Profit after tax was ₹18.64 Cr for the year ending March 31, 2024, increasing to ₹19.14 Cr by March 31, 2025. This shows a modest rise in profitability during this period.
Valuation
At the issue price of ₹121.0, Jinkushal Industries has an implied P/E ratio of approximately 18.8, compared to peers trading at P/E ratios ranging from 10.94 to 31.18.
Grey Market Premium, Explained
The grey market premium (GMP) is an indicator of the expected listing price of an IPO. A positive GMP suggests that demand for the shares is high, while a negative GMP indicates lower demand. However, GMP is not a guarantee of future performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and market conditions. It's important to consider the company's growth potential and industry position.
Who May Want to Wait
Investors with a low risk tolerance or those seeking guaranteed returns may want to approach IPOs with caution, as they can be subject to market fluctuations and uncertainty.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor could make if they sell their shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Jinkushal Industries's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Jinkushal Industries IPO GMP today?
Jinkushal Industries IPO GMP today is +₹20.0 (16.53%), indicating an estimated listing price of ₹141. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Jinkushal Industries IPO?
The price band of Jinkushal Industries IPO is ₹115.0–₹121.0 per share.
When does Jinkushal Industries IPO open and close?
Jinkushal Industries IPO opens on 25 September 2025 and closes on 29 September 2025.
When does Jinkushal Industries IPO list on the stock exchange?
Jinkushal Industries IPO listed on 03 October 2025 at ₹141.0.
What is the lot size for Jinkushal Industries IPO?
The lot size for Jinkushal Industries IPO is 120 shares, requiring a minimum investment of ₹14,520.
What is the lot size for this IPO?
The lot size for Jinkushal Industries' IPO is 120 shares.
What is the minimum investment required?
The minimum investment required is ₹14,520.
What is the price band for the IPO?
The price band for the IPO is between ₹115.0 and ₹121.0.
When is the listing date for the IPO?
The listing date for the IPO is October 3, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing price of the IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Sep 2025
Close
29 Sep 2025
Allotment
30 Sep 2025
Listing
03 Oct 2025
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