JD Cables Limited, incorporated on June 12, 2015, has announced the launch of its Initial Public Offering (IPO) to raise Rs 95.99 crore. The company is engaged in the manufacturing of cables and conductors, including power cables, control cables, aerial bunched cables, single-core service wires, and conductors such as AAC, AAAC, and ACSR, widely used in electricity transmission and distribution.
The IPO will open/closes for the anchor portion on September 17, 2025, and bid/issue opens on September 18, 2025, bid/offer closes on September 22, 2025. The price band has been fixed at Rs 144 to Rs 152 per equity share. The shares will be listed on the BSE SME platform, with a tentative listing date of September 25, 2025.
The company has proposed to offer up to 63,15,200 equity shares. Out of this, up to 3,16,000 equity shares are reserved for the market maker. The anchor investor portion is up to 17,80,000 equity shares. The net QIB portion comprises up to 11,97,600 equity shares, which includes an allocation of 60,000 equity shares specifically for mutual funds and the balance 11,37,600 equity shares for other QIBs. The non-institutional portion shall not be less than 9,10,400 equity shares, while the individual investors’ portion shall not be less than 21,11,200 equity shares.
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GYR Capital Advisors Private Limited is the book-running lead manager to the issue, while MUFG Intime India Private Limited (Formerly Known as Link Intime India Private Limited) will serve as the registrar to the issue.
Utilisation of IPO proceeds
The funds raised will be utilised for:
- Funding working capital requirements of our company
- Repayment/prepayment of all or certain of our borrowings availed of by our Company
- General Corporate Purposes
IPO Allotment & Investor Reservation
- Basis of allotment is expected on Tuesday, September 23, 2025, and equity shares will be credited to demat accounts on Wednesday, September 24, 2025
- Not more than 50% of the Net Issue will be allocated to Qualified Institutional Buyers (QIBs)
- Not less than 35% of the Net Issue will be reserved for individual investors
- Not less than 15% of the Net Issue will be allocated to Non-Institutional Investors (NIIs), with sub-categorization for small and large HNIs
The minimum lot size investment for an individual investor (retail) is 2 lots (1,600 shares) (based on upper price) amounting to ₹2,43,200.00. The minimum lot size investment for HNI is 3 lots (2,400 shares), amounting to ₹3,64,800.
Business & Key Highlights
JD Cables Limited is engaged in the manufacturing of cables and conductors, including power cables, control cables, aerial bunched cables, single-core service wires, and conductors such as AAC, AAAC, and ACSR, widely used in electricity transmission and distribution. These products are primarily used in the transmission and distribution of electricity and are manufactured in compliance with national quality standards.
- Revenue was Rs 25,052.58 lakh in FY25, more than double the previous year, with EBITDA of Rs 3,414.47 lakh and PAT of Rs 2,215.30 lakh
- The company had an order book of Rs 29,409.46 lakh as of August 5, 2025
- It supplies to 10+ states and is an approved vendor for multiple state electricity boards, Serving Bihar, Jharkhand, Andhra Pradesh, Northeast states & more
- In-house testing labs for strict quality control, supported by ISO and 5 BIS certifications
- Products include cables (about 81 per cent of FY25 revenue) and Conductors (about 19 per cent of FY25 revenue)
- The company operates two manufacturing units in West Bengal with an installed capacity of 28,000 kms
- ROE at 117.17 per cent in FY 25 and ROCE at 43.64% in FY 25.
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