JD cables IPO: HDFC Bank invests RS 1 crore while Anchor Investors Pump in RS 27 Crore; GMP jumps 20%

HDFC Bank has worth an interest RS 1 Crore as an anchor investor in the SME certificate of JD cables that will open for subscription on Thursday 18 September. The company has collected more than RS 27 Crore from a total of 20 anchor investors, including the largest private private private private lender through market capitalization.

HDFC Bank bought 66,400 shares on RS 152 each, which represented 3.73% of the total quota reserved for anchor investors.

The company’s board of directors during a meeting that is held today has the allocation of 17.80 Lakh shares shares to anchor investors in consultation with the book Running Lead Managers (BRLMS) to the issue.

Bacon Stone Capital VCC-Beacon Stone I have the largest cake of the quota in the corner at 10.07% or 1.79.200 shares. The total deal size is RS 2.72 Crore. Mengeneen Undiscovered Value Fund and YR Investment Opportunities Fund were the next largest allotee at 7.37% (1.31,200 shares).

Others who have assigned the shares are Mint Focused Growth Fund PCC-CELL-1, MoneyWise Financial Services PVT. Ltd. MFSPL, Santosh Industries Nexus Equity Growth Fund-Nexus Equity Growth Fund SCH-1 and Meru Investment Fund PCC-Cell 1.

JD -Cables IPO

JD cables IPO is a problem with the Bookbuild where the company is planning to pick up RS 69 Crores by offering 45.35,200 shares. The company has set the problem pride on RS 144-152. The minimum bidding quantity is 1,600 shares.

JD -Cables IPO Lead Managers

The book Running Lead Manager (BRLM) is Gyr Capital Advisors Private Limited, while the Registrar of the Quote Intime India Private Limited is private. Icici Bank Limited is the sponsor bank. The issue will be closed on September 22.

About JD cables

The company was founded in 2015 and is involved in the production of cables and conductors who meet the power transfer and distribution sector. The product portfolio of JD cables includes power cables, operating cables, bundle cables of the air, single-core service wires and a wide range of conductors such as all aluminum conductor (AAC), all aluminum alloy (AAAC) and aluminum conductor steel (ACSR). These products are extensively used for efficient and reliable transmission and distribution of electricity.

JD -Cables IPO GMP

JD cables shares found a Gray Market Premium (GMP) of RS 30 per share, which is a premium of 20% compared to the issue price. The shares of the company are expected to be stated on RS 182.

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