The IPO of Jainik Power and Cables, a company that makes aluminium wire rods, will open on June 10.
The price band for the IPO has been set at ₹100–₹110 per share, with a lot size of 1200 shares. Investors can subscribe to the issue until June 12.
The share allotment will be finalized on June 13, and the company will be listed on the NSE SME platform on June 17.
IPO Size and Details
The company aims to raise ₹51.30 crore through this IPO. A total of 46.63 lakh new shares will be issued.
Fast Track Finsec Private Limited is the book-running lead manager, and Skyline Financial Services Private Limited is the registrar for the issue.
IPO Reservation Details
Jainik Power and Cables is based in New Delhi, and its promoters include Shashank Jain, Pratik Jain, Anju Jain, and Subhash Chand Jain. The IPO has the following reservation:
10.05% for Qualified Institutional Buyers (QIBs)
44.97% for Retail Investors
44.97% for Non-Institutional Investors
Anchor investors will have the chance to bid on June 6, ahead of the public opening.
Use of IPO Funds
The company plans to use the IPO money for:
Working capital needs
Setting up a new plant
Repaying debt
General corporate purposes
Jainik Power & Cables has a manufacturing plant in Sonipat, Haryana, and supplies its products to several states, including Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand.
Financial Performance
In FY 2024–25, the company’s revenue grew by 4%, reaching ₹352.38 crore. Its net profit jumped 84% to ₹9.24 crore. The company had a debt of ₹19.36 crore during the same financial year.
