Jainik Power share price: Stock lists at 25% discount; here's how much investors lost per lot

The stock listed at ₹82 apiece, reflecting a discount of 25.45% against the issue price of ₹110 per unit.

Jainik Power share price: Here's how much investors lost per lot

A lot consisted of 1,200 shares, costing ₹1,32,000. Investors who were allotted Jainik Power shares lost ₹33,600 per lot (82 x 1200 = 98,400).

The objectives of the issue are:

• Meet working capital needs of the firm
• Establish a plant
• Meet general corporate purposes
• Repay a portion of a loan availed by the company
• Meet issue expenses

The initial public offering was subscribed to 1.54 times. Retail individual investors led the bidding as they subscribed their part at 2.08 times, followed by non-institutional investors at 1.13 times and qualified institutional buyers at 1.01 times.

Jainik Power and Cables makes aluminium wire rods and has more than a decade of experience in the metal industry. It was earlier in the trading of aluminium rods. Before the manufacturing, the company was dealing in aluminium rods.

The company's products are sold in various states such as Delhi, Rajasthan, Haryana, Uttarakhand and Uttar Pradesh.

Its revenue from operations advanced 3.87% year-on-year (YoY) to ₹352.38 crore in the financial year 2024-25 (FY25). Net profit jumped 84% YoY to ₹9.24 crore.

Fast Track Finsec Private Limited was the issue's book-running lead manager, while Skyline Financial Services Pvt Ltd is the registrar.