Jinkushal Industries Secures ₹35 Crore from Key Anchor Investors

Jinkushal Industries Ltd (JKIPL) recently announced it has successfully raised ₹35 crore from anchor investors in anticipation of its initial public offering (IPO) set for public subscription.

Notable anchor investors include Nomura Singapore, HDFC Bank, Viney Growth Fund, Steptrade Revolution Fund, Santosh Industries, and Swyom India Alpha Fund. A circular released on the BSE website confirms this allocation.

The company has issued 28.78 lakh equity shares to these investors at ₹121 each, as indicated in their announcements.

The public offering will be open for subscription from September 25 to 29, with shares priced between ₹115 and ₹121.

This IPO consists of a fresh issuance of 86.36 lakh shares and an offer for sale (OFS) of 9.6 lakh shares by promoters, concluding on September 29. At its highest price point, the company aims to generate ₹116 crore.

JKIPL intends to allocate the funds raised towards fulfilling working capital needs and other corporate purposes. Based in Chhattisgarh, the company specializes in the export trading of both new/customized and used/refurbished construction machinery across global markets. Its product range includes hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers. The company has successfully delivered over 1,500 construction machines, which include more than 900 new machines and over 600 used or refurbished ones.

JKIPL has extended its reach by exporting machinery to over 30 countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK, as outlined in their draft papers.

GYR Capital Advisors is serving as the sole book-running lead manager (BRLM) for the IPO. Shares are anticipated to be listed on the BSE and NSE on October 3.