Jinkushal Industries: A Rising Star in Construction Machine Export

Shares of Jinkushal Industries marginally rose above the issue price, reflecting a promising market response. With a market valuation of Rs 466.77 crore, the IPO attracted substantial interest, oversubscribed by 65.10 times. The Chhattisgarh-based company specialises in the export of construction machinery worldwide.

Shares of Jinkushal Industries ended slightly higher than their issue price of Rs 121 on Friday, showcasing a strong market debut. The stock opened at Rs 125, an increase of 3.30% from the issue price on both the BSE and NSE.

Throughout the day, the stock reached a peak of Rs 128, marking a 5.78% rise on the BSE. It concluded trading at Rs 121.60 per share, reflecting a modest gain of 0.50%. On the NSE, the share closed at Rs 121.66, up 0.54%.

With a market valuation standing at Rs 466.77 crore, Jinkushal Industries' IPO saw a phenomenal 65.10 times oversubscription by the end of the share sale period. The company, headquartered in Chhattisgarh, excels in the global export trading of new, customised, and refurbished construction machines, having delivered over 1,500 units worldwide.

(With inputs from agencies.)