Jinkushal Industries IPO

Company Overview: Founded in November 2007, Jinkushal Industries Limited is an 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 established a strong reputation for quality, customization, and service excellence.

Business Verticals:

1. New Construction Machines – Export trading of customised, modified, and accessorised machines tailored to client-specific operational and regional requirements.

2. Used & Refurbished Machines – Export trading of rigorously reconditioned machines that provide cost-effective and reliable alternatives.

3. Own Brand ‘HexL’ – Under its proprietary brand, the company currently offers backhoe loaders engineered for performance, durability, and value.

Operations & Growth:

• As of April 2025, the company supplied over 1,500 machines (900 new and 600 refurbished).

• In the nine months ended December 31, 2024, it supplied 1,171 machines (815 new and 356 refurbished).

• Its in-house Refurbishment Facility, with 48 skilled employees, ensures quality compliance and customization.

• Additionally, the company partners with independent, non-exclusive refurbishment centres aligned with its technical guidelines.

• Procurement network as of December 31, 2024: 228 suppliers (172 contractors, 51 traders, 5 manufacturers).

Objects of the Issue:

1. Capital expenditure – ₹72.67 Cr

2. General corporate purposes & miscellaneous – ₹31.82 Cr

Strengths:

• Recognized as a Three-Star Export House by the Government of India.

• Diversified operations across machinery exports, mining services, and logistics.

• Established global footprint with exports to 30+ countries.

• Proprietary brand ‘HexL’ enhances market offerings and brand presence.

Risks:

• High working capital requirements inherent to the business model.

• Exposure to fluctuations in global demand for construction and mining equipment.

• Dependence on third-party suppliers for machinery parts and components.

• Vulnerability to changes in international trade policies and export regulations.

• Intense competition from domestic and international players.

Jinkushal Industries IPO Key Details:

• IPO Dates: 25 – 29 September 2025

• Price Band: ₹115 – ₹121 per share

• Lot Size: 120 shares

• Total Issue Size: ₹116.15 Cr

• Retail Quota: 35%

• GMP (Reference Only): ~12%

Allotment Link

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