JD cables IPO shares to mention today; Decent GMP keeps investors interested

JD cables, the manufacturer of Howrah-based cables and conductors, will make his debut on Thursday on the BSE SME platform. The RS 95.99 Crore issue received a strong response from investors and concluded a subscription of 127.8 times. The IPO, which ran from 18 to 22 September, was priced in the reach of RS 144 to RS 152 per share and was eventually completed by the upper band.

At this price, the company will control market capitalization of RS 342.8 Crore. Despite the overwhelming demand during bidding, the activity on the unofficial gray market shows a modest premium. According to Market Observers, the shares of JD Cabbles are traded with a gray market premium of approximately 18%, suggesting that a listing price of approximately RS 179, which translates into a profit of approximately RS 27 about the issue price.

The demand breakdown emphasizes the frenzy between categories. Retail investors offer 106.9 times their quota, qualified institutional buyers subscribe 125.4 times, while non-institutional investors led the indictment with 179.3 times subscription.

JD cables, promoted by Piyush Garodia, produces a wide range of power and control cables, bundle cables, single-core service wires and conductors such as AAC, AAAC and ACSR.

These products are widely used in power transmission and distribution, making the company an important player in the value chain of the electricity infrastructure of India. The company works from two production facilities in Howrah and Hooghly, West Bengalen.

Financially, JD cables has yielded healthy growth. Turnover increased by 149% in FY25 to RS 251 Crore compared to RS 101 Crore a year earlier. The net profit rose to RS 22.1 CRORE from RS 4.6 Crore, so that an almost five -time increase is marked.

((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)