Jinkushal Industries IPO Day 3 Live: GMP, Subscription Status & Expert Review – Should You Apply?
Jinkushal Industries IPO Day 3: Strong Retail and NII Response Indicates Potential Listing Gains
The initial public offering (IPO) of Jinkushal Industries, which opened for subscription on Thursday, September 25, is set to close today, Monday, September 29. The IPO has been attracting healthy buying interest from both retail investors and non-institutional investors (NIIs). While the mainboard issue has already been subscribed more than five times, grey market trends indicate the stock could debut at a strong premium on the NSE and BSE.
Jinkushal Industries IPO Subscription Status – Day 3
By 10:15 AM on Monday, the public issue had been subscribed 6.46 times, receiving bids for 4,34,47,080 shares against the 67,21,048 shares offered. Breaking it down:
Retail investors: Subscribed 8.91 times
Non-Institutional Investors (NIIs): Subscribed 9.32 times
Qualified Institutional Buyers (QIBs): Subscribed 0.04 times
The strong response from retail and NII segments suggests robust demand, while the limited interest from QIBs is consistent with trends seen in similar IPOs.
Jinkushal Industries IPO Today: GMP, Subscription, and Expert Review
Jinkushal Industries IPO GMP
According to grey market reports, Jinkushal Industries shares are currently trading at a premium of ₹17 per equity share. With the upper price band set at ₹121, the stock is expected to list at around ₹138, reflecting a 14% premium.
Jinkushal Industries IPO Details
The IPO consists of a fresh issue of 86,35,935 shares and an Offer for Sale (OFS) of 9,59,548 shares.
Proceeds from the fresh issue will be used to meet long-term incremental working capital requirements and for general corporate purposes, as per the company’s RHP.
Book-running Lead Manager: GYR Capital Advisors
Registrar: Bigshare Services
Minimum Application Lot Size: 120 shares
Minimum Investment (Retail): ₹14,520
Maximum Investment (Retail, 13 lots): ₹1,88,760
Key Dates:
Share allotment likely: Tuesday, September 30
Credit to demat accounts/refunds: Wednesday, October 1
Listing on BSE & NSE: Friday, October 3
Jinkushal Industries IPO Review
Jinkushal Industries is engaged in the export and trade of new, customized, used, and refurbished construction machinery in global markets, with an international presence through subsidiaries in the UAE and USA.
Financial Performance:
Revenue: ₹233.45 crore (FY23) → ₹238.60 crore (FY24) → ₹380.6 crore (FY25)
Profit: ₹10.12 crore (FY23) → ₹18.64 crore (FY24) → ₹19.14 crore (FY25)
According to Anand Rathi, the company is among the largest exporters of non-OEM construction equipment. At the upper price band, the IPO values the company at a P/E of 24x FY25 earnings, an EV/EBITDA of 22x, and a post-issue market cap of ₹464.4 crore.
Should You Apply?
Anand Rathi: The IPO is fully priced; recommends “subscribe for long term.”
Ventura: Highlights the company’s plans to expand international market share, enter new geographies, and strengthen in-house brand offerings. Ventura also noted accolades like “India’s Top Exporter of the Year – Service” and “Top SME Business of the Year 2024” as indicators of sustainable growth.
Arun Kejriwal (Kejriwal Research): Profitable and likely to sail through the primary market; however, secondary market performance may vary. Advises high-risk investors to consider the IPO for listing gains only, as the business model doesn’t guarantee long-term comfort.
Disclaimer: The sole intention of this narrative is education. Business Connect Magazine does not endorse the opinions or suggestions made by individual analysts or brokerage companies. Since situations can change and market conditions can change quickly, we suggest investors to seek advice from recognized specialists before making any investment choices.
