Jinkushal Industries is poised to make its stock market debut today on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), following a highly successful Initial Public Offering (IPO). The company's shares are expected to list at a premium, potentially rewarding investors who participated in the public issue.

IPO Performance

The Rs 116.15-crore IPO of Jinkushal Industries witnessed robust demand from investors, resulting in an impressive oversubscription of 65.01 times. The offering received bids for 43.75 crore shares against the 67.21 lakh shares on offer, indicating strong investor interest in the company.

Expected Listing Price

According to grey market trends, Jinkushal Industries shares are commanding a premium of Rs 20. This suggests an estimated listing price of Rs 141.00, compared to the upper price band of Rs 121.00 set during the IPO. If realized, this would represent a potential gain of approximately 16.53% for IPO investors on the listing day.

IPO Structure and Fundraising

The public issue comprised two components:

1. A fresh issue of 86 lakh shares, raising Rs 104.54 crore
2. An offer-for-sale (OFS) of 10 lakh shares, valued at Rs 11.61 crore

Utilization of Funds

Jinkushal Industries has outlined its plans for the proceeds raised through the fresh issue:

• Working capital requirements
• General corporate purposes

Investor Outlook

The strong oversubscription and the expected listing premium indicate positive sentiment among investors towards Jinkushal Industries. However, it's important to note that market conditions and various other factors can influence the actual listing price and performance of the shares on their debut.

As Jinkushal Industries prepares to join the ranks of publicly traded companies, investors and market watchers will be keenly observing its performance in the initial trading sessions and beyond.

Jinkushal Industries' Initial Public Offering (IPO) has garnered significant investor interest, achieving 5.11 times oversubscription by the second day of the issue. The Rs 116.15-crore IPO entered its final day with strong momentum, reflecting robust demand from various investor categories.

Subscription Details

The IPO received bids for 3.43 crore shares against the 67.21 lakh shares on offer. Here's a breakdown of the subscription rates across different investor categories:

• Retail Investors: 7.28 times (highest demand)
• Institutional Buyers: 4% (subdued response)

IPO Structure and Pricing

• Total IPO Size: Rs 116.15 crore
• Fresh Issue: Rs 104.00 crore
• Offer for Sale: Rs 11.61 crore
• Price Band: Rs 115-121 per share

Grey Market Premium

The grey market is showing a premium of Rs 17 for Jinkushal Industries' shares, indicating potential listing gains of 14.05%.

Company Overview

Jinkushal Industries holds a prominent position in India's construction machinery export market:

• Largest non-OEM construction machinery exporter in India
• 7% market share in the sector
• Operations span across more than 30 countries

Financial Performance

IPO Proceeds Utilization

The funds raised through the IPO will be allocated towards:

1. Strengthening working capital
2. Supporting general corporate purposes

Analyst Recommendation

Anand Rathi Research has issued a 'Subscribe - Long Term' recommendation for the IPO, despite considering the issue fully priced.

As the IPO enters its final day, the strong oversubscription, particularly from retail investors, suggests significant interest in Jinkushal Industries. However, the subdued response from institutional buyers and the decline in EBITDA margins highlight potential areas of concern for investors to consider.