JD Cables’ ₹96-Crore SME IPO To Open On September 18; Price Band Fixed At ₹144-152

New Delhi, Sep 15: JD Cables, a manufacturer of cables and conductors, on Monday said it has fixed a price band of Rs 144-152 per share for the Rs 95.99 crore initial share sale which will open for public subscription on September 18.

Issue to Close on September 22

The initial public offering (IPO) will conclude on September 22. The bidding for the anchor portion will be open for a day on Wednesday, JD Cables said in a statement.

IPO Structure Includes Fresh Issue and OFS

The IPO is a mix of fresh issue of a little over 55.53 lakh equity shares and an offer for sale of 7.61 lakh shares by promoter Piyush Garodia, according to the red herring prospectus.

Net Proceeds to Fund Expansion and Debt Repayment

Net proceeds from the fresh issue will be used for funding working capital requirements of the company, repayment of debt and general corporate purposes.

Incorporated in 2015 and Based in West Bengal

Incorporated in 2015, West Bengal-based JD Cables is in the manufacturing of high-quality cables and conductors that cater to the power transmission and distribution sector.

Diverse Product Portfolio for Power Sector

Its product portfolio includes power cables, control cables, aerial bunched cables, single-core service wires, and a wide range of conductors such as all aluminium conductor, all aluminium alloy conductor, and aluminium conductor steel reinforced.

Products Widely Used in Transmission and Distribution

These products are extensively used for efficient and reliable transmission and distribution of electricity. The company had an order book worth Rs 294.09 crore as of August 5.

On the financial front, the company reported revenue of Rs 250.52 crore and profit after tax of Rs 22.15 crore in FY25.

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Listing on BSE SME Platform

The company's shares are proposed to be listed on the BSE's SME platform. GYR Capital Advisors is the sole book running lead manager while MUFG Intime India is the registrar for the IPO.

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