Jinkushal Industries Ltd.’s initial public offering (IPO) was subscribed 65.10 times on final day. The IPO was subscribed 5.11 times on its second day of bidding. The company was offering 95.95 lakh shares worth Rs 116.10 crore in the primary markets from Thursday.
The book-building issue entailed shares worth Rs 104.54 crore as a fresh offer and Rs 11.61 crore as an offer for sale. The face value of each share was Rs 10. The mainboard IPO has concluded today. Shares of Jinkushal Industries will list on both BSE Ltd. and National Stock Exchange Ltd. (NSE).
Anil Kumar Jain, Abhinav Jain, and Sandhya Jain were the promoters who offloaded stakes through the IPO.
Jinkushal Industries exports new, customised, used, and refurbished construction machines in global markets. It’s the largest non-original equipment manufacturer in construction machinery exports with a 6.9% market share, according to a CareEdge report.
