Upcoming IPO: Jinkushal Industries Limited (JKIPL) has been issued final observation by the Securities and Exchange Board of India (SEBI) allowing them to raise funds through an initial public offering (IPO). According to the latest information on the regulator’s website, the firm that submitted its Draft Red Herring Prospectus (DRHP) to SEBI earlier this year obtained its comments during the past week.
Jinkushal Industries IPO consists of a new issuance of as many as 86.5 lakh equity shares and a sale offer of up to 10 lakh equity shares, each having a face value of Rs. 10.
Jinkushal Industries plans to use the funds raised from the Fresh Issue to address working capital needs and for general corporate activities.
GYR Capital Advisors Private Limited serves as the sole Book Running Lead Manager (BRLM) for the offering.
Company details
The firm, represented by Anil Kumar Jain, Abhinav Jain, Sandhya Jain, Tithi Jain, and Yashasvi Jain, is involved in the export of both new/customized and used/refurbished construction equipment in international markets. It focuses on exporting construction machinery such as hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers. As reported by CareEdge, the firm holds the title of the largest Non-OEM exporter of construction machines, with a 6.9% share of the market.
The company has been honored as a Three-Star Export House by the Directorate General of Foreign Trade (DGFT) in the Government of India. As of the date of the DRHP, the firm has successfully exported construction machinery to more than 30 countries, including the UAE, Mexico, the Netherlands, Belgium, South Africa, Australia, and the UK.
The company has delivered over 1500 construction machines, consisting of more than 900 new units (which are customised, modified, or accessorised) and over 600 used/refurbished units.
The company showcased robust financial results, achieving a compound annual growth rate (CAGR) of 56.7% in revenue growth. Its Return on Equity (ROE) is recorded at 42.18%, highlighting its proficiency in leveraging capital investments for sustainable growth.
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