Jinkushal Industries (JKIPL) on September 24 said it has collected Rs 35 crore from anchor investors, ahead of its initial share sale opening for public subscription.
Nomura Singapore, HDFC Bank, Viney Growth Fund, Steptrade Revolution Fund, Santosh Industries and Swyom India Alpha Fund are the anchor investors, who have been allocated shares, according to a circular uploaded on the BSE website.
The company has allotted 28.78 lakh equity shares to these investors at Rs 121 per share, it showed.
The company's public issue will be available for public subscription from September 25 to 29 in a price band of Rs 115-121 per share.
The IPO — a combination of a fresh issue of 86.36 lakh shares and an offer-for-sale (OFS) of 9.6 lakh shares by promoters — will conclude on September 29. At the upper end, the company would raise Rs 116 crore.
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JKIPL plans to utilise the proceeds from the fresh issue towards funding the working capital requirements and for general corporate purposes.
Based in Chhattisgarh, the company is engaged in export trading of new/customised and used or refurbished construction machines in global markets. It specialises in the export trading of construction machines, including hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers.
The company has supplied over 1,500 construction machines, comprising over 900 new (with customisation or accessorised) and over 600 used or refurbished construction machines.
It has exported construction machines to over 30 countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK, as per the draft papers.
GYR Capital Advisors is the sole book-running lead manager (BRLM) to the IPO. Shares of the company are likely to list on the BSE and NSE on October 3.
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