The Rs 96 crore SME IPO of JD Cables has opened for subscription, with the issue scheduled to close on September 22. The offering consists of a fresh equity sale worth Rs 84.41 crore and an offer for sale of Rs 11.58 crore. Shares are expected to be listed on the BSE SME platform on September 25.
Ahead of the subscription window, the company raised Rs 27.06 crore through its anchor book, allotting 17.8 lakh shares. Leading lender HDFC Bank participated as an anchor investor. In the grey market, JD Cables is trading at a premium of around 18 percent, indicating a potential listing gain of Rs 25–27 per share, though the final outcome will depend on sentiment closer to the debut.
Company Overview
Founded in 2015, JD Cables manufactures a diversified range of cables and conductors that play a key role in India’s power transmission and distribution sector. Its product line includes power cables, control cables, aerial bunched cables, single-core service wires, and conductors such as AAC, AAAC, and ACSR.
The company operates two production facilities in Howrah and Hooghly, West Bengal. Its products are widely supplied to state electricity boards, power utilities, and infrastructure developers, supporting reliable electricity transmission across regions.
Financial Performance
JD Cables has recorded strong growth momentum in recent years. Revenue for FY25 jumped 149 percent year-on-year to Rs 250.7 crore, while profit after tax rose nearly fourfold to Rs 22.15 crore. Profitability has also strengthened, with PAT margin improving to 8.8 percent and EBITDA margin reaching 13.6 percent.