India’s Jainik Power Cables Ltd, headquartered in Delhi, India, launched an IPO on June 10, 2025, offering 46.63 lakh shares at ₹100–₹110 each. Lead-managed by Fast Track Finsec Pvt Ltd, the SME IPO has already been 88% subscribed by the second day, with high retail participation.
Jainik Power Cables Ltd, a Delhi-based manufacturer of aluminium wire rods, is currently offering its initial public offering (IPO) for subscription from June 10 to June 12, 2025. The IPO comprises a fresh issue of 46.63 lakh equity shares with a price band of ₹100 to ₹110 per share, aiming to raise ₹51.30 crore.
Established in 2023 for manufacturing after a decade of aluminium trading experience, Jainik Power Cables adheres to strict Environmental, Health, and Safety standards. The company is ISO-certified and uses spectrometry to ensure high purity in its products. Its distribution spans across Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand.
As of June 11, the IPO has been subscribed 88%, with the retail investor portion fully subscribed at 1.22 times and non-institutional investors subscribing 74%. Investors can bid in lots of 1,200 shares.
The funds raised will be used for setting up a new plant, fulfilling working capital needs, repaying existing loans, and covering corporate and issue-related expenses.
The IPO is lead-managed by Fast Track Finsec Pvt Ltd, with Skyline Financial Services Pvt Ltd handling the registrar functions. Rikhav Securities Ltd is acting as the market maker.
The IPO is witnessing active participation in the grey market as well, with a premium of ₹7 above the upper price band, indicating possible listing at ₹117.
