Jainik Power Cables IPO opens for subscription priced in range of Rs 100-110 per share

New Delhi: The Rs 51.3 crore initial public offering of Jainik Power Cables, a manufacturer of aluminium wire rods, opened for subscription on Tuesday.

The Initial Public Offering (IPO) priced in the range of Rs 100-110 per share, will remain open until June 12, the company said in a statement.

Shares of the company will be listed on NSE Emerge, and the investors can bid for a minimum of 1,200 shares and in multiples thereof, it added.

The IPO is entirely a fresh issue of 46.63 lakh shares.

Proceeds from the IPO will be utilised for setting up a plant, repayment of debt, funding working capital requirements and general corporate purposes.

"The launch of our IPO marks a significant milestone in our journey of transformation from a trading-based business to a fully integrated manufacturing enterprise. The capital raised through this issue will enable us to scale our operations, optimise our financial structure, and drive long-term value creation," Jainik Power Cables' Managing Director Shashank Jain said.

In FY25, the company reported a revenue of Rs 351.7 crore and a profit after tax of Rs 9.24 crore.

Fast Track Finsec is the sole book-running lead manager, while Skyline Financial Services is the registrar for the IPO.