The Initial Public Offering (IPO) of Jainik Power and Cables Limited, a manufacturer and supplier of aluminum wire rods, has generated considerable interest in the market. The IPO, which was open for subscription from June 10, 2025, to June 12, 2025, aimed to raise ₹51.30 crores through a fresh issue of 46.63 lakh equity shares. The price band for the IPO was set at ₹100 to ₹110 per share, with a minimum lot size of 1200 shares. The allotment was finalized on June 13, 2025.
The IPO witnessed a subscription of 1.52 times overall. The category-wise subscription details reveal that Qualified Institutional Investors (QIBs) subscribed 1.01 times, Non-Institutional Investors 1.25 times, and Retail Individual Investors (RIIs) 2.08 times.
The tentative listing date for Jainik Power and Cables IPO on the NSE Emerge platform is June 17, 2025. This listing will provide an opportunity for investors to trade in the company's shares on the secondary market.
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing gains. As of June 13, 2025, the GMP for Jainik Power and Cables IPO was nil. This suggests that the shares are expected to list at par with the issue price of ₹110. However, it's important to note that the GMP is an unauthenticated market-related news and should not be the sole basis for making investment decisions.
Investors who have applied for the Jainik Power and Cables IPO can check their allotment status through the following ways:
NSE Website: Visit the NSE's IPO allotment verification page and select "Equity & SME IPO bid details". Then, select "JAINIK" in the "Select Symbol" option, enter your PAN and application number, and click "Submit."
Skyline Financial Services Website: Visit the IPO allotment verification page of Skyline Financial Services, the registrar to the issue. Select "JAINIK POWER AND CABLES LIMITED" under the "Select Company" dropdown, and enter either your DPID/Client ID, application number, or PAN. Then, click "Search."
The net proceeds from the fresh issue will be utilized for various purposes, including repaying or prepaying borrowings, setting up a manufacturing plant, meeting issue expenses, funding working capital requirements, and for general corporate purposes.
Jainik Power and Cables Limited manufactures and supplies aluminum wire rods that comply with Environmental, Health, and Safety (EHS) standards. The company has been involved in the metal industry for over a decade. Their products are supplied to Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand.
Fast Track Finsec Pvt Ltd is the book-running lead manager for the IPO, while Skyline Financial Services is the registrar. Rikhav Securities Limited is the market maker for the IPO.
