Do Not Call
The SME IPO of Jainik Power and Cables opened for subscription with the first-day subscription reaching 0.71x.
Here are the primary facts of the offering:
Issue size: ₹51.30 Crores through a fresh issue of 46.63 lakh equity shares.
Price band: ₹100 to ₹110 per share.
Lot size: Investors may bid for a minimum of 1,200 shares, equating to ₹1,32,000 at the upper end.
Listing: Dedicated platform on NSE SME, tentatively scheduled for 17th June.
Demand on the first day remained healthy, especially among retail investors:
Investor Category |
Subscription Level |
|---|---|
Qualified Institutional Buyers |
Not yet subscribed |
Non-Institutional Investors |
Subscribed to 65% |
Retail Individual Investors |
Subscribed to 93% |
Total |
Subscribed to 71% |
The funds raised from the IPO are intended for expanding manufacturing capacity, repaying existing debt, managing working capital, and other corporate requirements.
Jainik Power and Cables has been manufacturing aluminium wire rods since 2023, ensuring quality and Environmental, Health and Safety compliance. It caters to multiple North Indian markets and is led by promoters with over three decades of industry experience.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
Economic Times — Jainik Power Cables IPO opens for subscription, ₹51.3 Crore issue, https://economictimes.indiatimes.com/markets/ipos/fpos/jainik-power-and-cables-ipo-opens-for-subscription/articleshow/121744575.cms
Live Mint — Jainik Power Cables IPO booked 60% so far on first bidding day, https://www.livemint.com/market/ipo/jainik-power-cables-ipo-booked-60-so-far-on-first-bidding-day-check-gmp-other-key-details-11749546565471.html
Moneycontrol — Jainik Power Cables Ltd IPO SME details and subscription, https://www.moneycontrol.com/ipo/jainik-power-cables-ltd-jpc-ipodetail
IPOWatch - https://ipowatch.in/jainik-power-and-cables-ipo-subscribed-on-day-1/
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