Jinkushal Industries share price made a lukewardm debut on Indian stock market, listed at a premium of 3.31 per cent over the IPO price of ₹115-121. Jinkushal Industries share price listed at ₹125 apiece at both NSE and BSE.
The company’s market capitalization was recorded at ₹479.83 crore following the listing of its shares.
Ahead of the listing, Jinkushal Industries shares were trading at a premium of ₹20 in the grey market, as per investorgain.
Jinkushal Industries IPO details
Jinkushal Industries IPO book-built issue worth ₹116.15 crore. The offer comprised a fresh issue of 0.86 crore shares valued at ₹104.54 crore and an offer for sale of 0.10 crore shares amounting to ₹11.61 crore.
The IPO price band has been fixed at ₹121 per share, with a lot size of 120 shares. For retail investors, the minimum investment works out to ₹14,520 (120 shares at the upper price band).
Jinkushal Industries IPO allotment was finalised on Tuesday, September 30. The crediting of shares to demat accounts for individuals who have been granted shares took place on Wednesday, October 1.
Backed by robust demand from non-institutional investors (NIIs) and retail participants, followed by qualified institutional buyers (QIBs), Jinkushal Industries’ IPO was subscribed 65.10 times on the final day of bidding, Monday, September 29, according to NSE data.
Proceeds from the fresh issue will be used to meet working capital needs and for general corporate purposes.
Headquartered in Chhattisgarh, the company focuses on export trading of new, customised, and refurbished construction machinery across global markets. Its portfolio includes equipment such as hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers.
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