25 September 2025: Jinkushal Industries Limited (JKIPL), headquartered in Raipur and known for its construction machinery exports, mining services, and logistics solutions, launched its ₹116 crore Initial Public Offering (IPO) today. The subscription window will remain open until 29 September 2025, with the company scheduled to debut on both NSE and BSE on 3 October 2025.
Founded in 2007, Jinkushal Industries has transitioned from mining contracting to a diversified exporter of construction equipment and mining services. The company operates across machinery, mining, and logistics segments and currently exports to over 30 countries.
In recent years, it introduced its proprietary equipment brand ‘HexL’, signalling its strategy to shift beyond contract manufacturing and build a stronger identity in the global markets. This diversification has been instrumental in enhancing its export revenues and strengthening brand recognition overseas.
Jinkushal Industries IPO Anchor Investors Commit ₹34.83 Crore Ahead of IPO Launch
A day before Jinkushal Industries IPO opened, Jinkushal Industries successfully mobilised ₹34.83 crore through its anchor placement on 24 September 2025. The company allotted 28,78,500 equity shares at the upper price band of ₹121 per share to marquee institutional players.
Prominent allocations included Nomura Singapore Limited ODI (5,28,060 shares worth ₹6.38 crore), Viney Growth Fund Steptrade (5,13,960 shares worth ₹6.21 crore), and Revolution Fund (5,13,960 shares worth ₹6.21 crore). Domestic participation came from Santosh Industries Limited and HDFC Bank Ltd, each subscribing over ₹5 crore. Notably, no allocation was created to mutual funds in the anchor tranche, reflecting the concentration of commitments from global funds and corporates.
Jinkushal Industries IPO Structure: ₹116 Crore Issue with Fresh Shares and OFS Mix
The public issue comprises a fresh issue of 86,35,935 equity shares and an Offer for Sale (OFS) of 9,59,548 shares, totalling ₹116 crore at the upper price band. Investors can bid within a price band of ₹115–₹121 per share, with a lot size of 120 shares, amounting to ₹14,520 at the upper conclude.
The IPO will be managed by GYR Capital Advisors Pvt. Ltd., with Bigshare Services Pvt. Ltd. acting as the registrar. The structured mix of fresh equity and OFS highlights the company’s dual focus—raising growth capital while enabling partial exit for existing shareholders.
Jinkushal Industries IPO A Strong Anchor Backing Sets Cautious Yet Steady Tone for IPO
The anchor investment of ₹34.83 crore establishes a baseline of institutional confidence, providing a degree of stability as the IPO opens to retail and non-institutional investors. However, the absence of mutual fund participation raises questions about broader domestic institutional appetite.
The oversubscription by foreign funds and select corporates reflects confidence in the company’s global export-driven model, while the mix of anchor allocations highlights both opportunities and cautious positioning by certain investor classes.
The launch of Jinkushal Industries’ ₹116 crore IPO with strong anchor investor participation underlines its effort to expand capital access while building global visibility through its HexL brand. With the listing scheduled on 3 October 2025, the focus now shifts to the subscription momentum across investor categories over the remaining bidding days.
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