JKIPL Secures Rs 35 Crore from Anchor Investors Ahead of IPO

Jinkushal Industries Ltd (JKIPL) announced on Wednesday that it has successfully raised Rs 35 crore from anchor investors in preparation for its upcoming initial public offering (IPO). The public share sale, set to open from September 25 to 29, aims to boost the company's working capital and address general corporate needs.

According to a notice on the BSE website, the anchor investors include prominent names such as Nomura Singapore, HDFC Bank, Viney Growth Fund, Steptrade Revolution Fund, Santosh Industries, and Swyom India Alpha Fund. JKIPL has allocated 28.78 lakh equity shares to these investors at Rs 121 per share.

Specializing in the export trading of construction machines, JKIPL operates out of Chhattisgarh and exports to over 30 countries globally. The company has supplied more than 1,500 machines, from hydraulic excavators to bulldozers. The IPO, comprising fresh and offer-for-sale shares, will close on September 29, with shares expected to list on October 3.

(With inputs from agencies.)