Weak Debut! Jainik Power Cables shares list at ₹82, a discount of 25.45% from IPO price

Jainik Power Cables IPO listing: Shares of Jainik Power Cables IPO made a weak debut on the bourses on Tuesday, June 17, listing at ₹82 on NSE SME, a discount of 25.45 percent from its issue price of ₹110.

The SME IPO, valued at ₹51.20 crore, was open for subscription from June 10 to June 12.

Jainik Power's IPO ended on a muted note, with the issue subscribed 1.54 times over the three-day bidding window. Investors placed bids for 68.42 lakh as against just 44.29 lakh shares on offer. The retail investor segment saw 2.08 times subscription, while the non-institutional investor (NII) category witnessed 1.13 times subscription. The portion reserved for qualified institutional buyers (QIBs) was also subscribed 1.01 times.

About the IPO

Jainik Power Cables IPO was a completely fresh issue comprising 46.63 lakh shares, with no offer-for-sale component. The minimum application size was 1,200 shares, implying a minimum investment of ₹1.32 lakh from retail investors.

The company intends to utilise the IPO proceeds to support its working capital needs, set up a new manufacturing facility, partially repay existing debt, and cover general corporate expenses.

Fast Track Finsec Pvt Ltd is overseeing the Jainik Power and Cables IPO as its book-running lead manager, coordinating the public offering process. Registrar responsibilities have been assigned to Skyline Financial Services Private Ltd, which will handle share allotment and investor records. Meanwhile, Rikhav Securities Limited has been appointed as the market maker to ensure liquidity in the stock post-listing.

About the Company

Jainik Power and Cables Limited, established in May 2011, initially operated as a trader of aluminium rods and transitioned into manufacturing aluminium wire rods in 2023. With over a decade of experience in the metal industry, the company has steadily expanded its operations while maintaining a strong focus on quality and safety standards.

The company produces and supplies aluminium wire rods in compliance with strict Environmental, Health, and Safety (EHS) protocols. It holds several ISO certifications and ensures high product purity through spectrometer-based testing conducted by its dedicated Quality Assurance Department.

For the financial year ended March 2025, Jainik Power and Cables Limited posted a revenue of ₹352.38 crore, marking a 4 percent increase over the previous year. The company’s profit after tax (PAT) witnessed a sharp jump, rising 84 percent year-on-year to reach ₹9.24 crore, indicating strong bottom-line growth despite modest revenue gains.

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