Construction machines exporter Jinkushal Industries files draft papers to raise funds via IPO

Jinkushal Industries IPO

Chhatisgarh-based non-OEM construction machines exporter Jinkushal Industries has filed preliminary papers with the SEBI on April 30 to raise funds via initial public offering.

The IPO will be a combination of fresh issuance of 86.5 lakh shares and an offer-for-sale of 10 lakh shares by promoters.

The equity shares of the company will be listed on the BSE and National Stock Exchange of India. GYR Capital Advisors is appointed as the sole book running lead manager to the issue.

Jinkushal Industries claimed to be the largest non-OEM construction machines exporter with a 6.9 percent market share, as per CareEdge report. It has presence in UAE and USA through subsidiaries.

It primarily operates across three primary business verticals -- export trading of customized, modified and accessorized new construction machines; export trading of used/refurbished construction machines; and export trading of its own brand HexL construction machines.

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It plans to raise funds via fresh issue component of its IPO for its working capital requirements (amounting to Rs 72.7 crore), and the remainder for general corporate purposes.

Jinkushal Industries that compares itself with listed entities like Action Construction Equipment, and Vision Infra Equipment, recorded 84.3 percent on-year growth in profit at Rs 18.6 crore for the year ended March 2024 and 2.2 percent increase in revenue at Rs 238.6 crore compared to previous year. In the nine months period ended December 2024, profit stood at Rs 18.12 crore on revenue of Rs 302.5 crore.