Jinkushal Industries Ltd's IPO Set to Boost Global Machinery Exports

Jinkushal Industries Ltd (JKIPL) aims to raise Rs 116 crore via an initial public offering set to open for public subscription on September 25.

The company has established a price band of Rs 115 to Rs 121 per share, positioning its valuation around Rs 464 crore at the upper limit.

The IPO is composed of a fresh issue of 86.36 lakh shares and an offer-for-sale by promoters with 9.6 lakh shares, closing on September 29. The collected funds intend to bolster JKIPL's working capital and other corporate purposes.

Headquartered in Chhattisgarh, JKIPL deals in exporting new, customised, and refurbished construction machines worldwide, boasting exports to over 30 countries.

In terms of issue allocation, 50 percent is reserved for QIBs, 35 percent for retail investors, and the remainder for non-institutional investors. GYR Capital Advisors serves as the leading manager for the IPO.

With a minimum lot size of 120 shares, JKIPL's shares are expected to be listed on the BSE and NSE on October 3.

(With inputs from agencies.)