JD Cables IPO: Price, GMP, Analysis, And Details

JD Cables IPO- Company Analysis

JD Cables IPO under the SME IPO category is a bookbuild issue of Rs. 95.99 Cr by JD Cables Ltd, which was incorporated in 2015 and produces premium cables and conductors for the power transmission and distribution industry.

The company offers a wide range of products including control cables, power cables, aerial bundled cables, single-core service wires, and conductors such as Aluminum Conductor Steel Reinforced, All Aluminum Conductor, and All Aluminum Alloy Conductor. These devices are commonly used to reliably and efficiently distribute and transport electricity.

JD Cables IPO Details

The JD Cables IPO date is on 18 September 2025, and its initial public offering will end on 22 Sep with IPO allotment on Sep 23, and refund initiation on Sep 24, 2025.

The Rs. 95.99 crore new SME IPO comprises a a combination of fresh issue of 0.56 crore shares (Rs. 84.41 Cr) and an offer for sale (OFS) of 0.08 crore shares (Rs. 11.58 Cr).

The JD Cables IPO listing date (expected) might be on Thursday, Sep 25, 2025, and listing at the BSE and SME. 

The JD Cables IPO price band is Rs. 144 to Rs. 152.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Sep 18, 2025
IPO Closing Date	Sep 22, 2025
IPO Allotment Date	Sep 23, 2025
Refund Initiation	Sep 24, 2025
IPO Listing Date	Sep 25, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	115.23	45.08	17.89
Total Revenue	250.70	100.85	40.86
PAT	22.15	4.58	0.32
EBITDA	34.14	7.22	0.81
Net Worth	29.98	7.83	1.18
Reserves & Surplus	29.93	7.78	1.15
Total Borrowing	45.91	17.77	3.84

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(1,821.24)	(1,274.69)	122.49
Net Cash Flow Investing Activities	(709.33)	(161.05)	0.66
Net Cash Flow Financing Activities	(2,465.37)	1,500.55	(121.49)

Revenue Bifurcation

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding the company's working capital needs. ~ Rs. 45 Cr.

• Repayment or early repayment of all or a portion of the loans that the company has taken out. ~ Rs. 26 Cr.

• General Corporate Purposes.
  
  

Listed Peers of JD Cables Ltd. 

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Dynamic Cables Limited	10	27.31	15.53

 

Valuation

Metric	Value
ROCE	43.64%
ROE	117.17%
PBV	32.14
Debt/Equity	1.53
PAT Margin	8.84%
EBITDA Margin	13.62%
RoNW	73.89%

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 13.39 from the last year, the resulting P/E ratio is 11.35x. When compared with the industry’s average P/E of 15.53x, it indicates a justified price bid (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors.

 

Explore the Sampat Aluminium IPO.

IPO's Strengths 

• Strong demand in the industry.

• Various product portfolios.

• Technological proficiency.

• A well-established manufacturing facility and supply chain.

 

 

IPO’s Weaknesses 

• Competitive market.

• Reliance on the cost of raw materials.

• Utilities bundle orders due to uncontrollable circumstances like Government approvals, funding releases, etc.
  
  

JD Cables IPO GMP (Grey Market Premium)

JD Cables IPO GMP today is Rs. 21 as of 13 Sep 2025 at the time of writing this information. Hence, the JD Cables IPO listing price (estimated) might be Rs. 173 (upper price + current GMP or grey market premium).

 

JD Cables IPO Summary

The JD IPO has a market maker portion size of 3,16,000 Shares (Rs. 4.80 Cr).

IPO Opening & Closing Date	18 Sep, 2025 to 22 Sep, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 144 to Rs. 152 per Share.
Lot Size	800 Shares
Issue Size	63,15,200 Shares (Rs. 95.99 Cr)
Offer for Sale	7,61,600 Shares (Rs. 11.58 Cr)
Fresh Issue	52,37,600 Shares (Rs. 79.61 Cr)
Listing at	BSE, SME
Issue Type	Bookbuilding IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1600 Shares) for Rs. 2,43,200 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (2400 Shares) for Rs. 3,64,800.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

JD Cables IPO Allotment Status

To check the JD Cables IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of JD Cables Ltd.

• Mr. Piyush Garodia.

Pre-Issue Promoter Shareholding	97.35%
Post-Issue Promoter Shareholding	70.01%

 

IPO Lead Managers

• GYR Capital Advisors Pvt. Ltd.   

Dividend Policy

The company has not paid a dividend during the last three fiscal years.

Conclusion

Investors in the power sector find JD Cables IPO appealing because of its rapid growth, solid financials, and varied product line. The IPO appears to be well priced, with solid margins and appropriate valuations in comparison to peers. Risks like the price of raw materials and industry competition still exist, though. 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.