SME IPO: JD Cables' Rs 96-cr public issue to open on Thursday

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.

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.

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

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.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)