Jainik Power & Cables Ltd. is hitting the capital markets with a fresh issue of shares worth ₹51.30 crores through its bookbuilding IPO. The company, rooted in the power and cables manufacturing sector, brings over a decade of experience and solid revenue growth into this public offering. With the IPO open from 10th June to 12th June 2025 and listing expected on 17th June 2025, this article takes a deep dive into Jainik’s financials, valuation, GMP trends, risks, and growth outlook to help you decide whether to invest.
IPO Snapshot
| Particulars | Details |
| IPO Open Date | 10th June 2025 |
| IPO Close Date | 12th June 2025 |
| Allotment Date | 13th June 2025 |
| Refunds Initiated | 16th June 2025 |
| Listing Date | 17th June 2025 |
| Issue Size | 46.63 lakh shares |
| Total Issue Value | ₹51.30 crores |
| Face Value | ₹10 per share |
| Price Band | ₹100 – ₹110 |
| Lot Size | 1200 shares |
| Market Maker Portion | 2.34 lakh shares |
| Registrar | Skyline Financial Services |
| Listing Exchange | NSE SME |
Share Reservation Structure
| Investor Category | Reservation Percentage |
| QIB | <10.05% |
| NII (HNI) | >44.97% |
| Retail | >44.97% |
| Total | 100% |
The IPO is predominantly aimed at attracting retail and HNI investors, with a smaller reservation for institutional buyers.
Grey Market Premium (GMP) Trends
As of 9th June 2025, Jainik Power & Cables IPO shows no GMP activity, indicating neutral or low speculative interest in the grey market.
| Date | IPO Price | GMP | Est. Listing Price | Listing Gain (%) |
| 09-Jun-2025 | ₹110 | ₹0 | ₹110 | 0% |
| 08-Jun-2025 | ₹110 | ₹0 | ₹110 | 0% |
| 07-Jun-2025 | ₹110 | ₹0 | ₹110 | 0% |
While GMP isn’t always a reliable indicator, a flat premium might suggest lukewarm speculative demand. Investors should focus more on fundamentals.
Financial Performance
Jainik Power & Cables Ltd. has demonstrated stable growth over recent fiscal years.
| Metric | FY 2025 | FY 2024 | FY 2023 |
| Revenue (₹ Cr.) | 352.38 | 339.23 | 67.49 |
| PAT (₹ Cr.) | 9.24 | 5.02 | 0.15 |
| Assets (₹ Cr.) | 71.19 | 35.50 | 36.66 |
| Net Worth (₹ Cr.) | 24.59 | 7.86 | 2.84 |
| Debt (₹ Cr.) | 19.36 | 17.13 | 16.83 |
Highlights:
- Revenue grew 3.87% YoY.
- PAT jumped over 84%.
- Net worth has more than tripled in one year, indicating strong retained earnings and balance sheet expansion.
Valuation and Technical Indicators
| Key Indicator | Pre-IPO Value | Post-IPO Value |
| PE Ratio | 11.53 | 17.09 |
| EPS (₹) | 9.54 | 6.44 |
| RoNW | 56.92% | – |
| ROE | 56.92% | – |
| ROCE | 55.92% | – |
| PAT Margin | 2.63% | – |
| Market Cap (₹ Cr.) | ₹157.82 | – |
These indicators suggest the company is efficiently using capital and generating solid returns for shareholders. The moderate PE ratio also indicates a reasonably priced issue.
Peer Comparison
| Company | Revenue (₹ Cr.) | PE Ratio | EPS (₹) | RoNW (%) |
| Jainik Power & Cables Ltd. | 351.69 | 11.53 | 9.99 | 56.92 |
| Hind Aluminium Industries | 13 | 13.73 | 3.17 | 2.94 |
| Arfin India Ltd. | 537 | 43.23 | 0.54 | 7.23 |
Jainik outperforms peers in RoNW and EPS, indicating better earnings quality and operational strength.
Promoter Shareholding
| Stage | Shareholding |
| Pre-Issue | 99.79% |
| Post-Issue | To be updated |
The high pre-IPO promoter holding reflects strong ownership and alignment of interest with future business performance.
IPO Objectives
The funds raised from this IPO will be used for:
- Working capital needs.
- Setting up a new plant.
- Loan repayment.
- Corporate expenses.
- Issue-related costs.
The diversification of fund use highlights a strategy focused on both operational expansion and financial de-leveraging.
Company Overview
Founded: 2011
Headquarters: Sonipat, Haryana
Industry: Power & Cables
Core Offering: Aluminum wire rods, electrical conductors
Certifications: ISO-compliant
Milestone: Began aluminum rod manufacturing in 2023
The company follows stringent safety and quality standards, supporting its long-term industrial credibility.
Lot Size and Investment Requirements
| Investor Type | Lots | Shares | Investment (₹) |
| Retail (Min) | 1 | 1200 | ₹1,32,000 |
| HNI (Min) | 2 | 2400 | ₹2,64,000 |
The IPO requires a high capital commitment from retail investors, which could limit participation despite strong financials.
Pros of Jainik Power & Cables IPO
- Strong earnings growth and improving profitability
- Efficient capital structure with expanding net worth
- Impressive RoNW and ROCE indicating business efficiency
- Transparent use of IPO proceeds for expansion and debt reduction
Cons of Jainik Power & Cables IPO
- Low GMP activity may reflect low listing-day buzz
- Thin PAT margin (2.63%) may limit short-term profitability
- High entry price for retail investors (₹1.32 lakh minimum)
Subscription Status (as of opening day)
| Category | Offered Shares | Subscribed | Times Subscribed |
| Retail Investors | Yet to update | – | – |
| QIB | Yet to update | – | – |
| HNI | Yet to update | – | – |
| Market Maker | 2,34,000 | – | – |
| Total | – | – | – |
Subscription updates will determine demand momentum and final allocation trends.
How to Apply for Jainik Power & Cables IPO
- Log in to your demat/trading account (e.g., Zerodha, Groww, Upstox).
- Navigate to the IPO section.
- Search for “Jainik Power & Cables IPO.”
- Enter lot size and UPI details.
- Approve the payment mandate from your bank.
- Submit your bid.
You can also apply using ASBA through net banking for most major Indian banks.
How to Check IPO Allotment Status
Option 1: NSE Website
- Visit: https://www.nseindia.com
- Go to “IPO Allotment Status”
- Enter PAN or application number
Option 2: Registrar Portal
- Visit: https://www.skylinerta.com
- Select Jainik Power & Cables IPO
- Enter required details (PAN or application no.)
Final Verdict: Should You Apply?
Consider Applying If:
- You seek a fundamentally strong SME with high RoNW and improving PAT.
- You are a medium to long-term investor and not solely reliant on listing gains.
- You are comfortable with the high investment entry barrier.
You May Avoid If:
- You’re targeting quick listing gains, as GMP is flat.
- You prefer high liquidity and large-cap IPOs.
- You find the ₹1.32 lakh minimum investment too restrictive.
Overall, Jainik Power & Cables IPO appears promising from a financial standpoint, especially given its significant RoNW and consistent revenue growth. However, the lack of grey market excitement and high retail ticket size may reduce initial investor enthusiasm. It suits investors seeking medium-term growth in a capital-intensive industry.
