JD Cables IPO

About JD Cables IPO

The IPO of JD Cables Ltd comprises a fresh issue and an offer for sale. Fresh issue comprises up to 55,53,600 equity shares, the offer for sale makes up to 7,61,600 equity shares. A 100% book-built issue, the price band of the IPO is ₹144-₹152 per share. The lot size of the IPO is 800. It opens on September 18, 2025 and closes on September 22, 2025.

The listing date is on or before September 25, 2025 and the allotment date is on or before September 23, 2025. The credit of shares to the Demat account will take place on or before September 24, 2025, while the initiation of refund will take place on or before September 24, 2025.

JD Cables Ltd is engaged in manufacturing of cables and conductors which widely include manufacturing of Power Cables, Control Cables, Aerial Bunched Cables, Single-core service wire and All Aluminium Conductor (A.A.C.), All Aluminium Alloy Conductor (A.A.A.C.), Aluminium conductor steel reinforced (A.C.S.R.) Conductors used for transmission and distribution of electricity.

Objectives of JD Cables IPO

The company proposes to utilise the IPO proceeds for:

1. Funding working capital requirements of the company;
   
2. Repayment/prepayment of all or certain of the borrowings availed by the company
   
3. General corporate purposes
   

Market maker reservation portion is 5.004% of the offer size.

Industry Outlook

The India wires and cables market size was valued at USD 9.32 billion in 2024. The market is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032, exhibiting a CAGR of 7.94% during the forecast period.

India has observed a substantial rise in the demand for wires and cables due to the country's ambitious renewable energy goals and the growing awareness of the potential of renewable energy, such as solar and wind power. In solar power plants, photovoltaic (PV) projects require a high-quality cabling system that connects all electrical components with minimal energy loss.

The significant growth of solar panels in India is creating a considerable demand for solar cables. According to industry standards, a 1 MW solar project will use about 50 km of solar cable. Considering the Indian government's target of 100 GW of installed solar capacity by 2022, India's solar cable requirement alone is more than 5 million kilometres.

Company Information

JD Cables Ltd is engaged in manufacturing of Cables and Conductors which widely include manufacturing of Power Cables, Control Cables, Aerial Bunched Cables, Single-core service wire and All Aluminium Conductor (A.A.C.), All Aluminium Alloy Conductor (A.A.A.C.), Aluminium conductor steel reinforced (A.C.S.R.) Conductors used for transmission and distribution of electricity.

The company’s products adhere to national quality standards and are widely used in the electrical industry. It has obtained ISO 9001:2015, IS398: PART 2 :1996, IS 694: 2010, IS 1554: PART 1 :1988, IS 7098: PART 1 :1988, IS 14255: 1995, ISO 9001:2015 Certificates for manufacturing of wires, cables & conductors.

Strengths of JD Cables Ltd

• Strong industry demand & market presence
  
• Experienced promoter supported by management and execution team with proven track record
  
• Operational excellence & scalability
  
• Raw material sourcing & cost efficiency
  
• Track record of sustained growth and strong financial performance
  

Risks of JD Cables Ltd

• Increase in price of raw materials and other input costs may adversely impact business
  
• Compliance challenges in the highly regulated electrical equipment sector
  
• Operational risks due to transportation delays or failures
  
• Operational dependence on manufacturing and potential workforce challenges
  
• Slowdown or shutdown of manufacturing operations may impact business and financial performance
  

Anchor Investor Bidding Date

Anchor portion of the IPO opens on September 17, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: MUFG Intime India Pvt Ltd
• Book Running Lead Manager: GYR Capital Advisors Pvt Ltd

Business Model

JD Cables Ltd is engaged in manufacturing of Cables and Conductors which widely include manufacturing of Power Cables, Control Cables, Aerial Bunched Cables, Single-core service wire and All Aluminium Conductor (A.A.C.), All Aluminium Alloy Conductor (A.A.A.C.), Aluminium conductor steel reinforced (A.C.S.R.) conductors used for transmission and distribution of electricity.

Company Growth Trajectory

The revenue from operations of JD Cables Ltd grew from ₹40.8554 crores in FY 23 to ₹250.5258 crores in FY 25. Its EBITDA margin grew from 1.97% in FY 23 to 13.62% in FY 25, while PAT margin grew from 0.78% in FY 23 to 8.84% in FY 25. The company's growth and success have been driven by the unwavering dedication of its promoter, Mr. Piyush Garodia, who has been a cornerstone of its journey since its inception.

Market Position

JD Cables Ltd has obtained ISO 9001:2015, IS 398: PART 2 :1996, IS 694: 2010, IS 1554: PART 1 :1988, IS 7098: PART 1 :1988, IS 14255: 1995, ISO 9001:2015 Certificates for manufacturing of wires, cables & conductors. The company is an approved vendor for various state electricity boards. Its supply network spans across multiple states, including Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, Madhya Pradesh, Chhattisgarh, Meghalaya, Mizoram and West Bengal.

How to Check Allotment Status of JD Cables IPO?

1. Visit the Registrar’s Website

• Visit the website of MUFG Intime India Pvt Ltd
• Choose ‘Public Issues’ from Investor Services dropdown
• Choose the name of the company from ‘Select Company’ dropdown
• Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
• Click on Submit to check the status

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for the JD Cables Ltd IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.