Jinkushal Industries Limited (JKIPL) is a global export trading company specializing in construction machinery. With operations spanning over 30 countries—including the UAE, Mexico, Netherlands, Belgium, South Africa, Australia, and the UK—the company has earned a strong reputation for quality, customization, and service excellence.
The company operates across three primary business verticals:
- Customized & Accessorized New Machinery: JKIPL procures construction machines from leading OEMs and enhances their value through customization, modification, and accessorization to meet region-specific and client-specific needs.
- Refurbished Construction Equipment: The company refurbishes used machines, providing reliable and cost-effective alternatives. Its 30,000 sq. ft. in-house Refurbishment Facility in Raipur, staffed with 48 skilled employees, ensures strict compliance with international quality standards. In addition, JKIPL partners with third-party refurbishment centers that follow its technical guidelines and SOPs.
- Proprietary Brand – HexL: Under its in-house brand HexL, JKIPL manufactures and exports backhoe loaders designed for performance, durability, and value. The brand reflects the company’s move toward building a globally recognized product line in construction equipment.
As of April 2025, the company has supplied over 1,500 construction machines, including 900 new and 600 refurbished. In the nine months ended December 31, 2024, JKIPL supplied 1,171 machines (815 new and 356 refurbished), showcasing rapid growth momentum.
Its procurement network included 228 suppliers (172 contractors, 51 traders, and 5 manufacturers) as of December 2024.
The company employed 90 permanent staff and 21 interns, reflecting a growing workforce aligned with its expanding global footprint.
Jinkushal Industries IPO – Details
| IPO Opening Date | 25 September 2025 |
| IPO Closing Date | 29 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 95,99,548 Shares Worth ₹116.15 Crore Fresh Issue: 86,40,000 Shares Worth ₹104.54 Crore Offer For Sale: 9,59,548 Shares Worth ₹11.61 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹115 – ₹121 per share |
| Market Lot | 120 Shares |
| Min Order | 120 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Jinkushal Industries IPO – Date Schedule
| IPO Open Date | 25 September 2025 |
| IPO Close Date | 29 September 2025 |
| Basis of Allotment | 30 September 2025 |
| Initiation of Refund | 01 October 2025 |
| Credit of Shares to Demat Account | 01 October 2025 |
| IPO Listing Date | 03 October 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 29, 2025 |
Jinkushal Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,520 |
| Retail (Max) | 13 | 1,560 | ₹1,88,760 |
| S-HNI (Min) | 14 | 1,680 | ₹2,03,280 |
| S-HNI (Max) | 68 | 8,160 | ₹9,87,360 |
| B-HNI (Min) | 69 | 8,280 | ₹10,01,880 |
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 Promoters
- Anil Kumar Jain
- Abhinav Jain
- Sandhya Jain
- Tithi Jain
- Yashasvi Jain
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹242.80 Cr | ₹218.07 Cr | ₹18.64 Cr | ₹46.04 Cr |
| 31 March 2025 | ₹385.81 Cr | ₹361.87 Cr | ₹19.14 Cr | ₹54.82 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 28.30% |
| ROCE | 18.39% |
| Debt/Equity | 0.58 |
| RoNW | 21.22% |
| PAT Margin | 5.03% |
| EBITDA Margin | 7.52% |
| Price to Book Value | 4.18 |
| Pre IPO | Post IPO | |
| EPS (₹) | 6.43 | 4.99 |
| P/E (x) | 18.80 | 24.26 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding the working capital requirements of the Company. | ₹72.68 |
| General corporate purposes. |
Jinkushal Industries IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Action Construction Equipment Limited | 31.18 |
| 2 | 10 | Vision Infra Equipment Limited | 10.94 |
✅Strengths
- Among the largest exporters of non-OEM construction machines with presence in 30+ countries.
- Subsidiaries in UAE and USA strengthen global reach and logistics.
- Diversified model: refurbished, new, and proprietary HexL brand.
- In-house refurbishment facility ensures quality, sustainability, and cost-effectiveness.
- Strong supplier base (228) and long-standing customer relationships.
- Consistent financial growth and solid balance sheet.
⚠️Risks
- Strong competition from global OEMs with superior brand recognition and after-sales support.
- Dependence on international trade policies and export incentives (like MTT).
- Reliance on third-party suppliers and refurbishment centers for operations.
- High working capital requirements increase financial sensitivity.
- Market volatility in global infrastructure and construction demand.
- HexL brand still new; success depends on market acceptance and execution.
Jinkushal Industries IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 75.00% |
Jinkushal Industries IPO Prospectus
Company Contact Information
| Jinkushal Industries Ltd. H. No. 260, Ward No. 42 Opp. C. M. House Near Chhattisgarh Club, Civil Lines Raipur, Chhattisgarh, 492001 Email: compliance@jkipl.in Website: https://www.jkipl.in/ |
Jinkushal Industries IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Jinkushal Industries IPO Lead Manager(s)
| 1. GYR Capital Advisors Pvt.Ltd. |
Jinkushal Industries IPO FAQs
| What is Jinkushal Industries IPO? Jinkushal Industries IPO is a main-board IPO. The issue is priced at ₹115 to ₹121 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Jinkushal Industries IPO open? The IPO is to open on 25 September 2025 for QIB, NII, and Retail Investors. |
| What is Jinkushal Industries IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Jinkushal Industries IPO Size? Jinkushal Industries IPO size is ₹116.15 Crore. |
| What is the Jinkushal Industries IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 120 Shares with ₹14,520, while the maximum bid is 1560 Shares with ₹1,88,760. |
| What is the Jinkushal Industries IPO Allotment Date? Jinkushal Industries IPO allotment date is 30 September 2025. |
| What is the Jinkushal Industries IPO Listing Date? Jinkushal Industries IPO listing date is 03 October 2025. The IPO is to be listed on BSE and NSE. |
