Jainik Power & Cables IPO Day 3 update; check subscription, GMP, key dates

Jainik Power and Cables subscription status Day 3: The unlisted shares of Jainik Power were trading at around ₹117 per share, reflecting a GMP of ₹7 or 6.3 per cent

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Jainik Power and Cables subscription status Day 3: The three-day subscription window to bid for the initial public offering (IPO) of aluminium wire rods manufacturer Jainik Power and Cables is set to close today, June 12, 2025. While the SME offering received a lacklustre response, it has been fully subscribed by the investors.

 

The NSE data shows that the Jainik Power IPO received bids for 56,18,400 shares, against 46,63,200 shares on offer, resulting in a subscription of 1.2 times, as of 10:10 AM on June 12.

Jainik Power IPO grey market premium (GMP)

According to sources tracking unofficial market activities, the unlisted shares of Jainik Power were trading at around ₹117 per share, reflecting a GMP of ₹7 or 6.3 per cent over the upper end of the issue price. 

Jainik Power and Cables IPO details

Jainik Power aims to raise ₹51.3 crore through a fresh issue of 4.66 million equity shares. The company has set the price band of ₹100-110 per share, and a lot size of 1,200 shares. A retail investor would require a minimum of ₹1,32,000 to bid for one lot or 1,200 shares of Jainik Power IPO (taking the upper end of the IPO price into consideration). The minimum investment required for high net-worth individuals (HNIs) is ₹2,64,000 for 2 lots or 2,400 shares.

 

As the subscription window closes today, the basis of allotment of Jainik Power IPO shares is expected to be finalised on Friday, June 13, 2025. Jainik Power shares are scheduled to be listed on the NSE SME platform tentatively on Tuesday, June 17, 2025.

 

Skyline Financial Services is the registrar of the issue. Fast Track Finsec is the sole book-running lead manager of the issue.

 

According to the red herring prospectus (RHP), the company plans to use ₹23.5 crore from the net issue proceeds to meet working capital requirements, ₹10.99 crore to fund and set up a plant, and ₹5 crore for repayment of a portion of loans availed by the company. The remaining funds will be used for general corporate purposes. 

About Jainik Power and Cables

Incorporated in May 2011, Jainik Power and Cables has been engaged in the manufacturing of aluminium wire rods since 2023 and has over a decade of experience in the metal industry. Before manufacturing, the company was involved in the trading of aluminium rods. Its manufacturing facility is located in Sonipat, Haryana. The company supplies products across various states, mainly in Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand.