Jinkushal’s IPO Parade: Existing Investors Exit with 1 Million Shares, GYR Capital Plots the Route

Jinkushal Industries, a top exporter of used heavy construction equipment, has decided to raise more than ₹100 crore through its initial public offering (IPO) plans. A portion of the IPO will provide an exit to early investors and promoters as existing shareholders sell 1 million shares through an offer-for-sale route. The company is the largest non-OEM exporter in the sector in India, which imports and customizes equipment from international manufacturers and supplies customers in over 35 countries.

 

The IPO will include both the fresh equity issue and the offer-for-sale, indicating high confidence in the company's strong financial performance. Jinkushal Industries posted an operating income of ₹238 crore for FY24, with improved operating margins at 10% from 5% in the last year. The company's recent foray into international markets, including the launch of its own brand HexL and a UAE-based subsidiary, indicates its growth path.

 

GYR Capital Advisors has been made the book-running lead manager to the IPO, drawing on its experience of leading successful public issues in India.

 

Source: The Hindu BusinessLine