Incorporated in 2015, JD Cables manufactures power and control cables, aerial bunched cables, service wires, and conductors such as AAC, AAAC, and ACSR for T&D applications. Operations run through two units in Howrah and Hooghly, West Bengal; the company reported robust growth in FY2025 and had 28 permanent employees as of May 31, 2025.
JD Cables IPO
BSE SME book‑built issue (Fresh + OFS)
UPCOMING IPOJD Cables is launching a BSE SME IPO aggregating up to ₹95.99 crore, comprising a fresh issue of about ₹84.41 crore and an offer for sale of roughly ₹11.58 crore. The offer opens on September 18, 2025 and closes on September 22, 2025, with allotment expected on September 23 and listing proposed on September 25, 2025. The price band is ₹144 to ₹152 per share; SME retail minimum is 2 lots of 800 shares each, i.e., 1,600 shares for ₹2,43,200.
| Face Value | ₹10 per share |
|---|---|
| Issue Price Band | ₹144 to ₹152 per share |
| Offer Structure | Fresh + Offer for Sale |
| Total Shares | 63,15,200 shares (aggregating up to ₹95.99 crore) |
| Fresh Issue (ex‑MM) | 52,37,600 shares (aggregating up to ₹79.61 crore) |
| Offer for Sale | 7,61,600 shares (aggregating up to ₹11.58 crore) |
| Reserved for Market Maker | 3,16,000 shares (approximately ₹4.80 crore) |
| Net Offer to Public | 59,99,200 shares (approximately ₹91.19 crore) |
| Issue Type | Book‑building SME IPO |
| Listing | BSE SME |
| Shareholding (Pre / Post) | 1,69,97,512 / 2,25,51,112 shares |
| Lead Manager | GYR Capital Advisors Pvt. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 3,16,000 (5.00%) |
| QIB | 29,77,600 (47.15%) |
| NII (HNI) | 9,10,400 (14.42%) |
| Retail (RII) | 21,11,200 (33.43%) |
| Total | 63,15,200 (100.00%) |
| Bid Date | Shares Offered | Anchor Portion | Lock‑in (50%) | Lock‑in (Balance) |
|---|---|---|---|---|
| Sep 17, 2025 | 17,80,000 | ₹27.06 crore | Oct 23, 2025 | Dec 22, 2025 |
| IPO Open | Thu, Sep 18, 2025 |
|---|---|
| IPO Close | Mon, Sep 22, 2025 |
| Allotment (Tentative) | Tue, Sep 23, 2025 |
| Refunds Initiation | Wed, Sep 24, 2025 |
| Credit to Demat | Wed, Sep 24, 2025 |
| Listing (Tentative) | Thu, Sep 25, 2025 |
| UPI Mandate Cut‑off | 5 PM on Sep 22, 2025 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,43,200 |
| Retail (Max) | 2 | 1,600 | ₹2,43,200 |
| S‑HNI (Min) | 3 | 2,400 | ₹3,64,800 |
| S‑HNI (Max) | 8 | 6,400 | ₹9,72,800 |
| B‑HNI (Min) | 9 | 7,200 | ₹10,94,400 |
Incorporated in 2015, JD Cables manufactures power and control cables, aerial bunched cables, service wires, and conductors such as AAC, AAAC, and ACSR for T&D applications. Operations run through two units in Howrah and Hooghly, West Bengal; the company reported robust growth in FY2025 and had 28 permanent employees as of May 31, 2025.
Summary (₹ crore)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 115.23 | 45.08 | 17.89 |
| Total Income | 250.70 | 100.85 | 40.86 |
| Profit After Tax | 22.15 | 4.58 | 0.32 |
| EBITDA | 34.14 | 7.22 | 0.81 |
| Net Worth | 29.98 | 7.83 | 1.18 |
| Reserves & Surplus | 29.93 | 7.78 | 1.15 |
| Total Borrowings | 45.91 | 17.77 | 3.84 |
Source: IPOWatch anchor/timeline and DRHP/RHP on exchange/LM sites; financials and offer composition summarized from FY2023–FY2025 disclosures.
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Interesting to see JD Cables opt for such a large minimum retail application size — ₹2.43 lakh will keep it accessible only to relatively bigger investors in the SME segment. The mix of a fresh issue and OFS also suggests existing stakeholders are partly cashing out while still fueling growth. It’ll be worth watching how the listing performs given their recent FY2025 growth momentum.
The lot size and minimum investment for JD Cables’ IPO definitely make this a serious commitment for retail investors, which could limit participation despite the company’s strong FY2025 growth. It’ll be interesting to see how the listing on BSE SME impacts liquidity, especially given the mix of fresh issue and offer for sale. Watching how demand shapes up in that ₹144–₹152 price band will give a good sense of broader sentiment for SME manufacturing plays right now.
Interesting to see JD CBlog comment creation guideables coming to the SME segment with such a large minimum investment size—₹2.43 lakh is on the higher side compared to many SME IPOs. Given their focus on power and control cables, I’ll be curious to watch how demand shapes up, especially since infrastructure and T&D projects are getting more traction lately.
Interesting to see JD Cables tapping into the SME segment with such a solid offering size—₹95.99 crore is quite substantial for this space. The company’s focus on T&D applications and steady growth since 2015 suggest it’s positioning itself well in a sector that’s likely to benefit from India’s power infrastructure expansion. Curious to see how the market responds post-listing on September 25th.