Jinkushal Industries IPO GMP currently sits at ₹21 as of September 26, 2025, which shows moderate investor optimism for the ongoing public offering. The IPO has grabbed market attention with a subscription rate of 3.55 times on Day 2 alone.
The share price ranges between ₹115 and ₹121, and investors can expect a listing price around ₹142 based on current IPO GMP trends. The retail portion’s subscription stands at 5.17 times, and Non-Institutional Investors have shown strong interest with 4.45 times subscription. The Qualified Institutional Buyers segment trails behind with just 0.03 times subscription.
Potential investors can still participate as the bidding window stays open until September 29, 2025. This piece will get into the latest Jinkushal Industries IPO GMP, subscription status, and give you the key information needed to make an informed investment decision
IPO Snapshot: Key Details You Should Know
Jinkushal Industries has structured its public offering beyond just subscription numbers. The company wants to raise ₹116.15 crore through a combination of fresh issue and offer for sale. This includes ₹104.54 crore through fresh shares and ₹11.61 crore via OFS route.
The company raised ₹34.83 crore from anchor investors before official bidding started. HDFC Bank, Nomura Singapore, and Viney Growth Fund were among the notable investors[41]. Santosh Industries, Swyom India Alpha Fund, and Steptrade Revolution Fund also joined the anchor round.
Retail investors need a minimum of 120 shares to participate, which costs ₹14,520 at the upper price band[41]. Small NIIs must invest in 14 lots (1,680 shares) worth ₹2,03,280. Big NIIs require at least 69 lots (8,280 shares) amounting to ₹10,01,880.
The IPO allocation structure reserves:
- 35.02% for retail investors (33,61,972 shares)
- 15.00% for NIIs (14,39,933 shares)
- 49.98% for QIBs (47,97,557 shares)
- 29.99% already allocated to anchor investors (28,78,500 shares)
The IPO bidding ends on September 29, with allotment finalization expected by September 30. Successful applicants will receive refunds and share credits in their demat accounts by October 1. The shares will list on both BSE and NSE on October 3, 2025.
Jinkushal Industries IPO GMP Today
Jinkushal Industries’ Gray Market Premium (GMP) has fluctuated significantly in recent days. The current GMP stands between ₹21-₹22 that indicates an expected listing price of ₹142 per share[104]. This could result in a potential listing gain of 17.36% above the upper price band.
The GMP has dropped substantially from its mid-September levels. Between September 16-24, the premium was much higher at ₹51-₹52 per share[104], with expected returns reaching nearly 43%. Notwithstanding that, the current premium reflects positive market sentiment, though more subdued than before.
Investors should know that GMP serves as an unofficial indicator in an unregulated, informal market. Therefore, these figures need careful interpretation since they stem from speculation rather than official data. The gray market mirrors what traders would pay for shares before the official listing.
The GMP has held steady at ₹21 in the last few days, which shows consistent secondary market sentiment. Investors should see this moderate but stable GMP as one of many factors to evaluate this investment chance.
Subscription Status and Market Response
Jinkushal Industries’ IPO subscription has grown steadily and reached 4.48 times by September 26, 2025. This marks a notable increase from the previous day’s 3.55 times.
The retail investors’ segment leads the charge with 6.47 times oversubscription, jumping up from 5.17 times earlier that day. Non-Institutional Investors also showed strong faith with 5.78 times subscription.
Qualified Institutional Buyers stayed wary and subscribed just 0.03 times of their quota. Their cautious approach continued through day two with little change from previous numbers.
The IPO pulled in 171,527 applications. Total bids crossed ₹411.16 crores, which stands at 354% of the issue size.
Before the public subscription opened, the company raised ₹35 crore from anchor investors like Nomura Singapore, HDFC Bank, and Viney Growth Fund. These investors got 28.78 lakh equity shares at ₹121 per share.
The strong subscription numbers from retail and non-institutional investors point to high market confidence. The IPO’s full subscription within hours of day one proves the exceptional investor interest.
Conclusion
Jinkushal Industries IPO shows moderate market enthusiasm as its GMP dropped from ₹51-52 to ₹21-22. Notwithstanding that, investors could see gains of about 17.36% with a projected listing price of ₹142 compared to the upper price band of ₹121. Retail investors have backed the IPO strongly with 6.47 times oversubscription. NII participation follows at 5.78 times, and the total subscription reached 4.48 times by September 26, 2025.
The IPO window stays open until September 29, and allotment results will be out by September 30. Investors should think over these positive subscription trends against the falling GMP numbers before deciding. On top of that, the company’s anchor book building raised ₹35 crore from trusted names like HDFC Bank and Nomura Singapore, which definitely adds trust to this offering.
The QIB portion is nowhere near fully subscribed at 0.03 times, but strong retail and NII interest could signal value for smaller investors. Jinkushal Industries’ IPO presents a balanced case with moderate gray market premiums and strong retail segment participation at a reasonable price band. Without doubt, investors should do their homework and weigh these market signals as the IPO closing date approaches.
FAQs
As of September 26, 2025, the GMP is around ₹21–₹22, indicating moderate listing expectations.
The IPO is subscribed 4.48 times overall, with strong retail demand at 6.47 times.
The price band is ₹115–₹121 per share. The minimum lot size is 120 shares, requiring ₹14,520 at the upper band.
Allotment will be finalized on September 30, 2025, and listing is scheduled on NSE and BSE for October 3, 2025.
The IPO has strong retail and NII participation with moderate GMP, but investors should evaluate fundamentals and risk before applying.
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