Jainik Power IPO allotment: How to check status online on NSE, Skyline Financial Services

Jainik Power IPO allotment: The basis of allotment of Jainik Power and Cables is expected to be finalised on Friday, June 13. The bid finalisation details will be out on websites of NSE and Skyline Financial Services.

The SME initial share sale was solely a fresh issuance of 46.63 lakh equity shares worth ₹51.30 crore.

The minimum application size consisted of one lot, which was 1,200 shares. This equates to an investment amount of ₹1.32 lakh for retail investors (cutoff price) 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 was ₹100 to ₹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 opened for bidding on June 10. After the bidding is closed, the allotment of shares is expected to be finalised on June 13.

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.

Steps to check Jainik Power and Cables IPO allotment status online on NSE

• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Chose ‘Equity & SME IPO bid details’
• Select Jainik Power and Cables from the list of IPO names.
• Enter your application number and PAN details.
• Click ‘Submit’ to view the status of your IPO allotment.

How to check Jainik Power allotment status on Skyline Financial Services website

• Visit the official website of the issue registrar: http://skylinerta.com/display_ipo_rightissue_allotment.php
• Select Jainik Power and Cables from the dropdown menu.
• Select whether you want to identify yourself using your demat account number or PAN number and share the account number details of the chosen option.
• Click on ‘Search’. You will be able to see the allotment details.

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 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.