Here are the full details for the JD Cables Limited IPO as of the latest public disclosures.
JD Cables Ltd is launching an SME (Small & Medium Enterprises) IPO under a book‐built issue. The face value of each share is ₹10. The issue will take place on the BSE-SME platform.
The IPO opens on 18 September 2025 and closes on 22 September 2025. The shares are expected to be listed on 25 September 2025.
The price band has been set between ₹144 and ₹152 per equity share.
Minimum application is for 1,600 shares (one lot) and increments in multiples of 800 shares thereafter. So, an investor must apply for multiples of 800 shares above the minimum lot.
The total issue size is about ₹95.99 crore, via 63,15,200 equity shares at the offered price band. This consists of two parts: a fresh issue and an offer for sale. The fresh issue is for 55,53,600 shares, and the offer for sale is 7,61,600 shares.
A portion of the issue (3,16,000 shares) is reserved for the market maker. After removing that, the “net offer” is for ~59,99,200 shares.
In terms of shareholding, promoters will hold ~97-98% pre-issue; post-IPO promoter holding drops (percentage wise) but remains the majority.
IPO Dates
- Opening date: 18 September 2025
- Closing date: 22 September 2025
- Basis of allotment date: 23 September 2025
- Initiation of refunds: 24 September 2025
- Credit of shares to demat accounts: 24 September 2025
- Listing date: 25 September 2025
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹144 to ₹152 per share
- Lot Size: 800 Shares
- Sale Type: Fresh Capital-cum-Offer for Sale
- Total Issue Size: 63,15,200 shares
- Fresh Issue: 52,37,600 shares
- Offer for Sale: 7,61,600 shares of ₹10
- Net Offered to Public: 59,99,200 shares
- Issue Type: Bookbuilding IPO
- Listing At: BSE SME
- Share Holding Pre Issue: 1,69,97,512 shares
- Share Holding Post Issue: 2,25,51,112 shares
GMP of JD Cables Limited IPO
Here are more detailed grey market premium (GMP) figures and related info for JD Cables Limited IPO:
Current GMP & Estimated Listing Gain
- The grey market premium for JD Cables IPO is about ₹24-₹25 per share.
- The upper price band of the IPO is ₹152 per share. If we add the GMP (≈ ₹24-25) to this, the estimated listing price works out to about ₹176-₹177 per share.
- In percentage terms, the GMP represents roughly 15.8% to 16.5% over the IPO upper price of ₹152.
Promoters of JD Cables Limited
Here are the details on the promoter(s) of JD Cables Limited:
- Mr. Piyush Garodia
- Mrs. Alka Garodia
Piyush Garodia
- He is a promoter and Managing Director of JD Cables Limited
- Education: alumnus of St. Xavier’s College, Kolkata. He has done CA Inter (Institute of Chartered Accountants of India) and CS Inter (Institute of Company Secretaries of India) courses.
- Entrepreneurial / Career background: First-generation entrepreneur. He started with a small manufacturing unit in Belgachia, Howrah. Under his leadership, the company has expanded to serve across multiple states, manufacturing in West Bengal, with modern labs, etc.
- Address / Registered Office: The registered address of JD Cables Pvt. Ltd is 26/1 F Road, Belgachia, Howrah, West Bengal.
- Director Identification Number (DIN): 07194809 for Mr. Piyush Garodia as per company director records.
Alka Garodia
- She is also a promoter / director of the company.
- She was appointed director at incorporation (12 June 2015) of the private limited company.
- DIN: 07194816.
- Other details such as her educational qualifications, work experience, personal background are not available in the public sources I checked.
JD Cables Limited IPO Lot Size
Here’s the lot size and related application details for JD Cables Limited IPO:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,43,200 |
| Retail (Max) | 2 | 1,600 | ₹2,43,200 |
| S-HNI (Min) | 3 | 2,400 | ₹3,64,800 |
| S-HNI (Max) | 8 | 6,400 | ₹9,72,800 |
| B-HNI (Min) | 9 | 7,200 | ₹10,94,400 |
JD Cables Limited IPO Promoter Holding
Here are the promoter holding details for JD Cables Limited IPO:
| Promoter Holding Pre Issue | 97.35% |
| Promoter Holding Post Issue | 70.01% |
- Pre-Issue Promoter Holding: ~ 97.35%
- Post-Issue Promoter Holding: ~ 70.01%
About JD Cables Limited
- JD Cables Limited was incorporated on 12 June 2015 as JD Cables Private Limited.
- It was converted into a public company and the name changed to JD Cables Limited with a fresh certificate of incorporation issued on 2 December 2024.
What They Do / Products & Operations
- The company is in the business of manufacturing wires, cables, and conductors.
- They are ISO certified (ISO 9001:2015) and have various IS (Indian Standards) certifications for their products, ensuring compliance with safety and performance norms.
- They supply to state electricity boards and operate across several Indian states including Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, and West Bengal, among others.
Their product range includes:
- Power cables
- Control cables
- Aerial Bunched Cables (AB cables)
- LT XLPE Power Cables
- PVC Power & Control Cables
- Bare & insulated copper conductors
Manufacturing Capacity & Facilities
- They have a manufacturing facility (or facilities) located in West Bengal.
- The facilities include in-house testing labs / quality control labs to ensure product standards.
As of recent updates:
- Unit I (Belgachia, Howrah) has been operational since incorporation. Its capacity is about 6,000 kms per annum.
- II (Dankuni, Hooghly) began production around August 2023, with capacity of about 30,000 KMs per annum.
- III Unit is under development with planned capacity of about 200,000 KMs per annum.
Management & Leadership
Promoter & Managing Director: Mr. Piyush Garodia.
- Education: alumnus of St. Xavier’s College, Kolkata; has done CA Inter and CS Inter.
- Started with a small manufacturing setup in Belgachia, Howrah. Under his leadership, the company has expanded to serve multiple states and scale up operations.
Other key management:
- Rajesh Jhunjhunwala — Whole Time Director.
- Arumay Roy — Head of Technical & Quality Control.
- Manoj Tiwari — Oversees production, operations etc.
- Hemant Kr. Choradia — CFO.
- There are independent directors too: Ganga Sharan Pandey and Twinkle Pandey.
JD Cables Limited Financial Information
Here are the key financials for JD Cables Limited (restated) for recent fiscal years, presented in table form. Figures are in ₹ Crore unless noted, and are taken from their IPO prospectus and related filings.
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹115.23 Crore | ₹45.08 Crore | ₹17.89 Crore |
| Total Income | ₹250.70 Crore | ₹100.85 Crore | ₹40.86 Crore |
| Profit After Tax | ₹22.15 Crore | ₹4.58 Crore | ₹0.32 Crore |
| EBITDA | ₹34.14 Crore | ₹7.22 Crore | ₹0.81 Crore |
| NET Worth | ₹29.98 Crore | ₹7.83 Crore | ₹1.18 Crore |
| Reserves and Surplus | ₹29.93 Crore | ₹7.78 Crore | ₹1.15 Crore |
| Total Borrowing | ₹45.91 Crore | ₹17.77 Crore | ₹3.84 Crore |
Key Performance Indicator (KPI)
Here are some key performance indicators (KPIs) for JD Cables Limited as per their recent financials, along with commentary.
| KPI | Values |
|---|---|
| ROE | 117.17% |
| ROCE | 43.64% |
| Debt/Equity | 1.53 |
| RoNW | 73.89% |
| PAT Margin | 8.84% |
| EBITDA Margin | 13.62% |
| Price to Book Value | 8.39 |
Strengths of JD Cables Limited IPO
1) Strong Growth in Revenue & Profit
- From 2023 to 2025, revenue grew sharply (≈ ₹40.9 crore → ~₹250.5 crore).
2) Certifications & Quality Standards
- The company has ISO 9001:2015 certification and complies with several Indian Standards (IS 398, IS 694, IS 1554, IS 7098, IS 14255). This helps in meeting regulatory & customer expectations.
3) Diverse Product Portfolio & Vendor Approvals
- They manufacture a wide range of cables, wires, and conductors: power cables, control cables, aerial bunched cables, and different types of conductors (AAC, AAAC, ACSR).
4) Strategic Manufacturing Footprint
- Operations from facilities in Howrah and Hooghly in West Bengal. These are relatively established locations for wires/cables industry supply chain.
5) Strong Order Book / Demand Visibility
- As of early August 2025, JD Cables had an order book of ~₹294.09 crore. This suggests upcoming work is fairly well lined up.
6) Use of IPO Proceeds to Improve Financial Health
- IPO funds will be used partly for working capital and partly for debt repayment. Reducing borrowings can help reduce interest burden.
Risks of JD Cables Limited IPO
1) High Borrowings / Leverage
- The company has significant debt; outstanding secured borrowings of ~₹41.6 crore as of March 2025.
2) Working Capital & Cash Flow Constraints
- The business requires inventory, receivables, etc., which tie up cash. Delays in payments or execution can strain liquidity.
3) Raw Material Price Volatility
- The cost of raw materials like copper, aluminum, steel, PVC, XLPE etc can fluctuate a lot. If prices go up, margins can be squeezed.
4) Geographical Concentration
- Major operations and facilities are in West Bengal. Much of its revenue is from Eastern India. This makes it more vulnerable to regional disruptions (labor issues, power outages, regulatory risks) or economic slowdown in those areas.
5) Customer Concentration Risk
- A large portion of revenues come from a few key customers or State Electricity Boards. Losing a major contract or facing delays in payments from such customers could adversely affect revenue.
6) Regulatory / Policy Risk
- Since they supply to government bodies (State Electricity Boards etc.), any change in policy, approval delays, payment delays or regulatory changes can impact business.
Objects of the Issue (JD Cables Limited IPO Objectives)
Here are the Objects of the Issue (i.e. how JD Cables Limited intends to use the IPO proceeds), based on their IPO disclosures:
Objects of the Issue for JD Cables Limited IPO
- Funding working capital requirements of the company — about ₹45.00 crore is earmarked for this purpose.
- Repayment/prepayment of all or certain borrowings availed by the company — approximately ₹26.00 crore will go towards reducing debt.
- General corporate purposes — the remainder of the funds will be used for general corporate needs.
JD Cables Limited Contact Details
Here are the contact details for JD Cables Limited:
JD Cables Limited Contact Details
Corporate / Registered Office Address
Arch Square X2, 14th Floor, 1401, EP Block, EP-Y1, Sector V, Bidhannagar, Kolkata, West Bengal, 700091
Manufacturing Units
- Unit I: 26/1, F Road, Belgachia, Howrah, West Bengal, 711101
- Unit II: Ward No.1, Chakundi, Star Battery Gate, Dankuni, Hooghly, West Bengal
Phone
+91-33-48500547
Email
contact@jdcables.in
Additional Info
Registered Office Address (as per MCA records): Arch Square X2, Salt Lake Sector V, Near College More, Sech Bhawan, North 24 Parganas, Salt Lake, West Bengal, 700091.
Corporate Identification Number (CIN): U29253WB2015PLC206712
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