Jainik Power and Cables IPO opens for subscription today: Check issue size, price band, other key details

The SME issue aims to raise ₹51.30 crore through a fresh issue of 46.63 lakh equity shares.

According to NSE data, investors can apply for a minimum lot size of 1,200 shares. This equates to a minimum investment amount of over ₹1.32 lakh for retail investors (if bids are placed at the upper end of the price band) and ₹2.64 lakh for high-net-worth investors (HNIs), as they need to bid for a minimum of 2 lots.

The price band of the IPO is between ₹100 and ₹110 per equity share with a face value of ₹10.

Jainik Power and Cables has appointed Fast Track Finsec as the book-running lead manager of the IPO, while Skyline Financial Services is the registrar for the issue. The market maker for the Jainik Power and Cables IPO is Rikhav Securities.

The Jainik Power and Cables IPO will remain open for bidding from 10 to 12 June. After the bidding is closed, the allotment of shares is expected to be finalised on June 13.

Successful bidders can expect the shares to be credited to their demat accounts by June 16, with others receiving refunds on the same day. Jainik Power and Cables shares are scheduled to list on the NSE Emerge platform on June 17.

The company will use ₹23.50 crore towards working capital requirements. It also plans to use ₹10.99 crore to fund and set up a new plant. Jainik will use ₹5 crore to repay/prepay the portion of the loan availed by the company. Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives. The firm also intends to spend some amount towards its issue expense.

Incorporated in 2011, Jainik Power and Cables began as a trader of aluminium scrap and ingots through imports. In FY20, the company made a shift and started trading in aluminium wire rods in addition to the supply of raw materials. In FY23, the company started manufacturing aluminium wire rods for different clients.

The company has a manufacturing facility in Haryana with an installed capacity of 24,000 tonnes and a capacity utilisation of 60% as of March 31, 2025. The company plans to increase its production capacity by 20% annually over the next few years through the installation of new machinery.