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.

Jainik Power Cables Limited, an electrical cable manufacturing company headquartered in Gujarat, India, launched its Initial Public Offering (IPO) today, aiming to raise ₹51.30 crore. The three-day subscription window will remain open from June 10 to June 12, with shares expected to list on the NSE SME platform by June 17.

Jainik Power Cables, known for its production of power and control cables catering to infrastructure and industrial projects, is tapping into the capital markets to fund its ongoing expansion plans, support working capital requirements, and repay existing borrowings.

The IPO comprises a fresh issue of 46.63 lakh equity shares with a face value of ₹10 each. The price band has been fixed in accordance with NSE SME regulations, and the offer is being managed by Beeline Capital Advisors.

The company’s strategic decision to go public aligns with its broader growth ambitions, including ramping up production capacity and enhancing its market presence across India. Jainik Power Cables has witnessed rising demand in the electrical infrastructure space, particularly in sectors such as real estate, railways, and power distribution.

The listing of shares on the NSE SME platform will mark a significant milestone for the company as it seeks to build investor confidence and broaden its financial foundation.

With India’s SME sector gaining momentum in the capital markets, this IPO is expected to draw strong interest from retail and institutional investors alike.