BSE SME JD Cables plugs into the market but current fizzles at listing floor

The scrip was listed at Rs 160, a premium of 5.26% over the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price. The counter hit a high of Rs 160 and a low of Rs 152. About 18.22 lakh shares of the company changed hands at the counter. JD Cables' IPO was subscribed 118.94 times. The issue opened for bidding on 18 September 2025 and it closed on 22 September 2025. The price of the IPO was fixed between Rs 144 to Rs 152 per share. The IPO comprised 63,15,200 equity shares, including a fresh issue of 55,53,600 equity shares and offer for sale (OFS) of 7,61,600 equity shares. The company intends to utilize the net proceeds for funding working capital requirements of the company, repayment/prepayment of all or certain borrowings availed by the company and general corporate purposes. Ahead of the IPO, JD Cables on 17 September 2025, raised Rs 27.05 crore from anchor investors. The board allotted 17.80 lakh shares at Rs 152 each to 20 anchor investors. JD Cables is engaged in the manufacturing of cables and conductors, including power cables, control cables, aerial bunched cables, single-core service wires, and conductors such as All Aluminium Conductor (AAC), All Aluminium Alloy Conductor (AAAC), and Aluminium Conductor Steel Reinforced (ACSR), which are used for the transmission and distribution of electricity. The company is an approved vendor for various State Electricity Boards. Its supply network spans multiple states, including Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, Madhya Pradesh, Chhattisgarh, Meghalaya, Mizoram, and West Bengal. As of the latest available data, the company had a total of 32 employees. The company recorded revenue from operations of Rs 250.53 crore and net profit of Rs 22.15 crore for the year ended 31 March 2025.