Raipur’s Jinkushal Industries Lists In Premium IPO Category; Full Interview Inside

On Friday, Raipur-based Jinkushal Industries Ltd made a successful debut on the stock exchanges. The construction equipment exporter's shares opened at ₹125 on the NSE, reflecting a premium of ₹4 or 3.3% above its issue price of ₹121. The listing caps a ₹116.15 crore IPO that was oversubscribed 65.10 times, with bids worth ₹5,293 crores pouring in from over 12.23 lakh investors across India. The Chhattisgarh-based company India’s largest Non-OEM construction machines exporter with a 6.9% market share and government-recognized Three-Star Export House.

FPJ reporter Avdhesh Mallick carried out an interview of Abhinav Jain, Promoter and Director, Jinkushal Industries about the IPO, the company's business, and vision for the future.

Excerpts from the interview

Congratulations on the successful listing! What's your reaction to this entire journey—from the 65x oversubscription to the listing day?

Thank you so much! You know, it's been an incredible, rollercoaster.

If we go into the finer details, retail investors subscribed 47.10 times, NIIs came in at 146.39 times, and QIBs at 35.66 times. Such broad-based confidence across all investor categories, for us here in Raipur, is particularly special.

How do you plan to utilize the IPO proceeds?

The company intends to use the cash raised from the IPO for working capital purposes and for general corporate purposes.

Specifically, we're looking at business expansion, incubation of professionals, technology investments, and strategic initiatives.

What is your vision for Jinkushal Industries over the next decade?

We compete with several players, depending on the segment. There are large OEMs (Original Equipment Manufacturers) like Caterpillar, Komatsu, JCB who dominate the new equipment space. In the export space, we compete with companies like Action Construction Equipment, TIL Limited, Escorts, and various regional exporters and traders globally.

In ten years, we want Jinkushal Industries to be recognized globally as a leading player in construction equipment exports and services, known not just for our size but for our innovation, reliability, and the value we create.

What does Jinkushal's success mean for Chhattisgarh?

Every time we ship HexL equipment we feel proud.

We're showing the world that India isn't just about mining and power (though those are important). It's also about innovation, exports, global competitiveness, entrepreneurship. If we can inspire other companies in India to think bigger, aim higher, and go global—that would be our greatest contribution to the state.