Jinkushal Industries IPO Sees 2.26x Overall Subscription on Day 1; Retail Bids Lead Strong Response

Raipur, September 25, 2025 — The ₹116 crore Initial Public Offering (IPO) by Jinkushal Industries Limited was fully subscribed on day one. As of September 25th, 2025, at 4:54 PM, the IPO had witnessed total subscription of 2.26 times.

Category-Based Subscription

The IPO witnessed strong demand on its first day of bidding. As of 4:54 PM on September 25, it was subscribed 2.26 times in total. Retail investors showed the highest activity, subscribing 3.23 times, while non-institutional investors (NIIs) subscribed 2.97 times. Among NIIs, sNII (applications under ₹10 lakh) recorded the highest demand with a subscription of 5.43 times, followed by bNII, who subscribed 1.74 times.

Qualified Institutional Buyers (QIBs) have shown minimal interest so far, subscribing only 0.02 times, excluding the anchor book. Anchor investors received their full allotment of 28.78 lakh shares.

Overall, the IPO attracted 73,427 applications, with bids for 1.52 crore shares against the 67.20 lakh shares on offer, amounting to a total value of ₹183.62 crore

Anchor Investor Boost

Prior to the commencement of IPO, Jinkushal Industries raised ₹34.83 crores from anchor investors by issuing 28,78,500 shares at ₹121 per share on September 24, 2025. Some renowned investors include Nomura Singapore, Viney Growth Fund, Revolution Fund, Santosh Industries, Swyom India Alpha Fund, and HDFC Bank Ltd.

IPO details

Jinkushal Industries launched its ₹116 crore IPO, which opened for subscription on September 25 and will close on September 29, 2025. The price band for the issue is set between ₹115 and ₹121 per share. The IPO comes with a minimum lot size of 120 shares, translating to an investment of ₹14,520 at the upper price band. The shares are scheduled to be listed on stock exchanges on October 3, 2025.

The IPO was fully subscribed on its first day, reflecting strong investor interest. Attention will now shift to Qualified Institutional Buyers (QIBs), as institutional participation often gains momentum in the later stages of the subscription period.

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