Jinkushal Industries: Construction Machinery Mogul Soars in IPO Debut
Jinkushal Industries' shares made a robust market debut, initially rising over 3% from its issue price of Rs 121. The Chhattisgarh-based company, specializing in exporting construction machinery, saw its IPO subscribed 65 times, with plans to use the proceeds for working capital and corporate purposes.
In an impressive market debut, shares of Jinkushal Industries on Friday commenced trading with an increase of over 3% from the issue price of Rs 121. Initially valued at Rs 125 on both the BSE and NSE, the stock later experienced volatility, dropping to Rs 118.75.
Jinkushal Industries, a Chhattisgarh-based enterprise, offers a robust presence in the export trading of construction machinery, marking a successful IPO subscription of 65.10 times. The public issue featured a price range of Rs 115-121 per share.
The firm intends to utilize the IPO proceeds to bolster its working capital and manage corporate expenses efficiently. Specializing in new, customized, and refurbished construction machinery, the company has already supplied a considerable volume of equipment globally.
(With inputs from agencies.)
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