India-based Jainik Power and Cables Ltd, a manufacturer of aluminium wire rods, is launching its IPO on June 10 with a price band of ₹100–₹110 per share, aiming to raise ₹51.30 crore. The IPO closes on June 12 and includes a fresh issue of 46,63,200 equity shares. The company plans to utilize proceeds for plant setup, loan repayment, working capital, and general corporate needs.
Jainik Power and Cables Ltd, a Noida-based aluminium wire rod manufacturer, is set to launch its Initial Public Offering (IPO) on June 10, 2025, closing on June 12, 2025. The company has fixed a price band of ₹100 to ₹110 per share for the public issue. The IPO comprises a fresh issue of 46,63,200 equity shares, aiming to raise approximately ₹51.30 crore.
Jainik Power and Cables Ltd began manufacturing aluminium wire rods in 2023, after a decade of experience in the aluminium trading business. The company operates under stringent Environmental, Health, and Safety (EHS) standards and holds multiple ISO certifications. Its quality control is managed through advanced spectrometer-based impurity assessments.
The company distributes its products across several northern Indian states including Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand. The funds raised from the IPO will be utilized for working capital requirements, setting up a new plant, partial loan repayment, general corporate purposes, and issue expenses.
The IPO does not include an offer for sale (OFS) component, and the entire issue is a fresh equity raise. The issue is being managed by Fast Track Finsec Pvt Ltd as the lead manager, while Skyline Financial Services Pvt Ltd serves as the registrar. Rikhav Securities Ltd is the market maker for the IPO.
According to IPO tracking platform investorgain.com, the grey market premium (GMP) for Jainik Power and Cables IPO is currently ₹0, suggesting that shares are trading at par with the issue price of ₹110 in the unofficial market.
As per the Red Herring Prospectus (RHP), Jainik Power and Cables’ listed peers include Hind Aluminium Industries Ltd and Arfin India Ltd, with P/E ratios of 13.73 and 43.23, respectively.
Investors can bid for a minimum of 1,200 equity shares, and in multiples of 1,200 thereafter. The IPO’s performance and eventual listing will be watched closely, especially given the current neutral grey market sentiment.
