Jinkushal Industries IPO Sees Massive Oversubscription
Jinkushal Industries' IPO was oversubscribed by 65.10 times on its closing day. The offer attracted significant interest across investor categories, raising Rs 35 crore from anchor investors. The IPO aims to fund working capital needs and general corporate purposes, focusing on exporting construction machinery globally.
- Country:
- India
The IPO of Jinkushal Industries attracted overwhelming interest, being subscribed 65.10 times on its final day. This emphasizes the company's strong market appeal, with high demand from all investor segments.
Particularly, the portion for non-institutional investors saw a sky-high subscription rate of 146.39 times, while retail investors subscribed to the offer 47.10 times over. Qualified institutional buyers (QIBs) also showed significant interest, subscribing 35.66 times. Jinkushal Industries raised Rs 35 crore from anchor investors to bolster its offering.
The IPO, priced at Rs 115-121 per share, comprises both a fresh issue of 86.40 lakh shares and an offer-for-sale of 9.6 lakh shares by its promoters. Proceeds will support the company's working capital needs and corporate strategies. Based in Chhattisgarh, Jinkushal specializes in exporting construction machines globally, particularly in hydraulic excavators and bulldozers. The IPO is managed by GYR Capital Advisors, the lead book-runner.
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