JD Cables, a manufacturer of electrical transmission and distribution cables, has witnessed an overwhelming response to its Initial Public Offering (IPO). The IPO, which closed recently, was oversubscribed by a staggering 118 times, showcasing strong investor interest in the company.

IPO Details

The Rs 95.99 crore IPO comprised a fresh issue of 56 lakh shares worth Rs 84.41 crore and an offer for sale of 8 lakh shares. The price band for the issue was set between Rs 144-152 per share. Against the 45.35 lakh shares on offer, the IPO received bids for 53.95 crore shares, indicating robust demand across investor categories.

Subscription Breakdown

The IPO saw strong participation across all investor categories:

Key Dates

• Share Allotment: Expected on September 23
• Listing Date: Scheduled for September 25 on the BSE SME platform

Grey Market Premium

The grey market premium for JD Cables stands at Rs 44, suggesting an estimated listing price of Rs 196.00. This indicates a potential gain of 28.95% from the upper end of the price band.

Company Overview

JD Cables specializes in manufacturing electrical transmission and distribution cables. The company operates two manufacturing units located in West Bengal, catering to the growing demand in the electrical infrastructure sector.

Market Expectations

The strong oversubscription and positive grey market premium suggest high investor confidence in JD Cables. However, it's important to note that market conditions can change, and investors should make informed decisions based on their own research and risk appetite.

As the company prepares for its stock market debut, all eyes will be on its performance post-listing. The robust IPO response sets an optimistic tone for JD Cables' entry into the public market, but as with all investments, market dynamics will ultimately determine its long-term performance.

JD Cables, a manufacturer of cables and conductors for power transmission and distribution, is set to launch its Small and Medium Enterprise (SME) Initial Public Offering (IPO) with a strong backing from anchor investors, including HDFC Bank.

Anchor Investment Details

The company has successfully raised over Rs 27 crore from 20 anchor investors ahead of its public offering. Notable among these is HDFC Bank, which has invested Rs 1.00 crore, acquiring 66,400 shares at Rs 152 per share. This investment represents 3.73% of the total anchor investor quota.

Beacon Stone Capital VCC-Beacon Stone I emerged as the largest anchor investor, securing a 10.07% allocation with 1,79,200 shares worth Rs 2.72 crore.

IPO Highlights

Company Profile

JD Cables, incorporated in 2015, specializes in manufacturing cables and conductors crucial for power transmission and distribution networks. The company's decision to go public marks a significant step in its growth trajectory.

Market Sentiment

The grey market is showing positive sentiment towards JD Cables' IPO. The grey market premium currently stands at Rs 30 per share, representing a 20% premium over the upper end of the issue price. This indicates an expected listing price of around Rs 182.

Investor Interest

The strong response from anchor investors, including established names like HDFC Bank, suggests a positive outlook for JD Cables' public offering. This pre-IPO investment round not only provides the company with immediate capital but also potentially boosts investor confidence in the upcoming public subscription.

Investors and market watchers will be keenly observing the public response to this SME IPO, given the current market dynamics and the essential nature of JD Cables' business in the power infrastructure sector.