JD Cables IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 18, 2025 to September 22, 2025 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 144 to ₹ 152 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 63,15,200 shares (aggregating up to ₹ 95.99 Cr) |
| Reserved for Market Maker | 3,16,000 shares (aggregating up to ₹ 4.80 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 52,37,600 shares (aggregating up to ₹ 79.61 Cr) |
| Offer for Sale | 7,61,600 shares of ₹10 (aggregating up to ₹ 11.58 Cr) |
| Net Offered to Public | 59,99,200 shares (aggregating up to ₹ 91.19 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,69,97,512 shares |
| Share Holding Post Issue | 2,25,51,112 shares |
About JD Cables IPO
JD Cables IPO is a book build of ₹95.99 crores. The offering consists of a fresh issue of 0.56 crore shares totaling ₹84.41 crores and an offer for sale of 0.08 crore shares totaling ₹11.58 crores. JD Cables initial public offering (IPO) begins subscriptions on September 18, 2025 and ends on September 22, 2025. The allotment for JD Cables IPO is expected to be finalized on September 23, 2025. JD Cables IPO will float on BSE SME, with a tentative listing date of September 25, 2025. JD Cables IPO price range is set at ₹144.00 to ₹152.00 per share. The lot size for an application is 800. Individual investors can invest a minimum of ₹2,43,200.00 (1,600 shares) based on the higher price. GYR Capital Advisors Pvt. Ltd. is the book running lead manager, while MUFG Intime India Pvt. Ltd. is the issue registrar. Giriraj Stock Broking Pvt. Ltd. serves as the company's market maker.
Company Background
JD Cables Limited was incorporated on June 12, 2015 under the Companies Act, 1956 and is a leading manufacturer of a comprehensive range of wires, cables and conductors, including LT AB Cables, LT XLPE Power Cables, LT PVC Power and Control Cables, as well as bare and insulated copper conductors. It's an ISO-certified company with a strong portfolio of duly tested, high-quality products and an approved vendor for various State Electricity Boards. The company's supply network spans across multiple states, including Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh and West Bengal. The state-of-the-art manufacturing facility in West Bengal is equipped with modern infrastructure, cutting-edge machinery and a well-equipped test laboratory, ensuring the production of superior-quality products.
Operations & Product Range
Facility & Production
JD Cables Limited operates modern manufacturing plants in Howrah and Hooghly, West Bengal, with good infrastructure, specialized technology and proprietary testing laboratories for rigorous quality control. The company manufactures a broad range of cables, including LT AB cables, LT XLPE power cables, LT PVC power and control cables and bare and insulated copper conductors. Its plants are ISO 9001:2015 certified and compliant with several IS standards, assuring reliability and conformance to industry standards. JD Cables' superior testing capabilities and accredited methods allow it to constantly offer durable and efficient products.
Brands & Market Presence
JD Cables Limited is an ISO-certified manufacturer of wires, cables and conductors that offers a broad range of products to meet power and control requirements. The company is recognized as a vendor with many of the State Electricity Boards in the eastern and northeastern states such as Assam, Odisha, Bihar and West Bengal. JD Cables emphasizes quality standards & certifications and internal testing to create reliability and trust in the utility and infrastructure space. The company is competing against larger competitors, but JD Cables continues to grow and achieve in the regional area through consistent performance and approval.
Revenue Channels
JD Cables Limited primarily earns revenue through the manufacture and sale of a range of conductors, including ACSR (Aluminium Conductor Steel Reinforced), AAAC (All Aluminium Alloy Conductor) and AAC (All Aluminium Conductor). These are essential for power transmission and distribution networks, serving as the backbone for electrical infrastructure.
The company also generates significant revenue from producing insulated cables such as LV (Low Voltage) XLPE/PVC insulated power cables and control cables, which are used in electrical installations for power distribution and control systems in industrial and commercial applications.
Additionally, JD Cables manufactures LV aerial bunch cables and service wires, which are critical for last-mile connectivity in electricity supply networks, particularly in the eastern Indian markets of West Bengal, Assam and Odisha, where the company has a strong regional presence.
Management & Shareholding
Promoters & Shareholding
Before the JD Cables IPO in September 2025, the company's promoter, Piyush Garodia and the promoter group, which included Alka Garodia, owned nearly 97.35% of the company's shares. This stake is intended to be diluted following the public offering, in accordance with regulatory norms and the promoter's shares comply with SEBI lock-in regulations.
Board Members
JD Cables IPO is promoted by Piyush Garodia, who also serves as Managing Director and its directors include Shiv Kumar Agarwal and Jyoti Garodia. The company was founded in 2015 as a private company and was recently converted to a public limited company to allow for its next phase of growth.
Objectives of JD Cables IPO
- Funding working capital requirements to support operational needs.
- Repayment and/or prepayment of borrowings to reduce debt burden.
- General corporate purposes to strengthen business capabilities and expansion.
Conclusion
JD Cables IPO is a good way for investors to gain exposure to an expanding player in the cable manufacturing sector with a demonstrated ability to efficiently operate and experience growth in financial performance. Its strategic position in eastern India, quality manufacturing and strong relationships with its client base contribute to a viable and growing business with prospects and represent a compelling opportunity for investors looking for exposure to the SME space.
JD Cables IPO Financial Information
Latest Revenue
250.7
₹ Crore
Profit After Tax
22.15
₹ Crore
Net Worth
29.98
₹ Crore
Total Borrowing
45.91
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 115.23 | 250.7 | 22.15 | 29.98 | 45.91 | ||||
| 31 Mar 2024 | 45 | 101 | 5 | 8 | 17.77 | ||||
| 31 Mar 2023 | 17.89 | 40.86 | 0.32 | 1.18 | 3.84 | ||||
| Amount in ₹ Crore | |||||||||
JD Cables Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 117.17% |
| ROCE | 43.64% |
| Debt/Equity | 1.53 |
| RoNW | 73.89% |
| PAT Margin | 8.84% |
| EBITDA Margin | 13.62% |
| Price to Book Value | 32.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.69 | 8 |
| P/E (x) | 56.41 | 19 |
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Competitive Strengths
Strong industry demand from market segments in power transmission, telecom and industrial sectors, focused primarily in eastern India.
Efficient and scalable manufacturing processes are used as they operate from two modern facilities in West Bengal, which utilize the latest developments in manufacturing processes to ensure cost-effective manufacturing and on-time delivery.
Reliable (or strategic) partnerships with raw material suppliers and own in-house component manufacturing, which minimizes supply chain risks and enhances control of quality.
Strong top-line and bottom-line growth expectations, as defined by a strong order book and visibility in future revenue.
Download regulatory filings
JD Cables IPO Timeline
| IPO Open Date | Thu, Sep 18, 2025 |
| IPO Close Date | Mon, Sep 22, 2025 |
| Tentative Allotment | Tue, Sep 23, 2025 |
| Initiation of Refunds | Wed, Sep 24, 2025 |
| Credit of Shares to Demat | Wed, Sep 24, 2025 |
| Tentative Listing Date | Thu, Sep 25, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 22, 2025 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1,600 | ₹2,43,200 |
| Individual investors (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 |