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Jainik Power and Cables IPO opens on June 10: Check price band, lot size & more
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3 min read | Updated on June 05, 2025, 09:20 IST
SUMMARY
Jainik Power and Cables IPO will open for subscription on June 10 to raise ₹51.30 crore. The price band is set between ₹100 and ₹110 per share. IPO closes on June 12; shares are expected to be listed on NSE Emerge on June 17. Net IPO proceeds will be used to fund working capital requirements, new plant, loan repayment, and corporate purposes.
Incorporated in 2011, Jainik Power and Cables manufactures aluminium wire rods for different clients.
Jainik Power and Cables IPO will open for subscription on June 10. Auminum wire rods manufacturer aims to raise ₹51.30 crore through its initial public offering. The IPO will remain open till June 12.
Jainik Power and Cables IPO details
Jainik Power and Cables aims to raise ₹51.30 crore through its SME IPO. The issue is 100% book-built and made up entirely of a fresh issuance of over 46.6 lakh shares, with no offer-for-sale (OFS) component.
The company has fixed the price band of the issue at ₹100 to ₹110 per share. The lot size, or the minimum bid quantity to apply for the issue, is 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 networth investors (HNIs) as they need to bid for a minimum of 2 lots.
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.
Jainik Power and Cables IPO: Important dates
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.
Jainik Power and Cables IPO: Use of proceeds
| Particulars | Estimated amount |
|---|---|
| Working capital expenditure | The company will use ₹23.50 crore towards working capital requirements |
| Set up new plant | The company will use ₹10.99 crore to fund and set up a plant |
| Repayment of loan | The company will use ₹5 crore to repay/prepay the portion of the loan availed by the company |
| General corporate purposes | Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives. |
| Issue Expenses | The company will spend some amount towards its issue expenses |
About the company
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 tons 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.
Jainik Power and Cables: Financial snapshot
| (In Crs) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 67.38 | 338.6 | 351.6 |
| Total Assets | 36.6 | 35.5 | 71.1 |
| PAT | 0.15 | 5.02 | 9.24 |
| EBITDA | 1.3 | 8.1 | 13.9 |
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