JD CABLES IPO

Overview of the Initial Public Offering

Key Dates for JD CABLES IPO

• Opening Date: 18 Sep 2025
• Closing Date: 22 Sep 2025
• UPI Payment Deadline: 22 Sep 2025 (5 PM)
• Allotment Announcement: 23 Sep 2025
• Refund Processing: 24 Sep 2025
• Demat Credit: 24 Sep 2025
• Stock Market Listing: 25 Sep 2025
• Mandate Validity End: 07 Oct 2025
• Anchor Investor Lock-in Release (50%): 23 Oct 2025
• Anchor Investor Lock-in Release (Remaining): 23 Dec 2025

*Dates may be revised as per official updates.

Introducing JD Cables: Company Profile and Business Operations

Incorporated in 2015, JD Cables has rapidly established itself as a significant player in the electrical transmission and distribution cables sector. The company specializes in the manufacturing of a diverse range of essential products, including Power Cables, Control Cables, Aerial Bunched Cables, and Single-core Service Wires. Furthermore, JD Cables produces critical conductors such as All Aluminium Conductor (AAC), All Aluminium Alloy Conductor (AAAC), and Aluminium Conductor Steel Reinforced (ACSR), which are vital for modern power grids.

With a strong focus on contributing to India’s burgeoning power infrastructure, JD Cables operates two advanced manufacturing units strategically located in Howrah and Hooghly, West Bengal. These facilities are equipped with state-of-the-art infrastructure and comprehensive testing capabilities, ensuring the production of high-quality and reliable products. The company’s commitment to quality and service has earned it the status of an approved vendor for various State Electricity Boards across several eastern Indian states, including Assam, Odisha, Jharkhand, Bihar, and West Bengal. This widespread approval underscores JD Cables’ crucial role in supporting the regional and national energy distribution network.

IPO Structure and Capital Mobilization

The Initial Public Offering of JD Cables aims to raise a total of ₹95.99 Crores. This capital-raising exercise is structured through a combination of a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders, reflecting both the company’s growth aspirations and providing liquidity to early investors.

The fresh issue component signifies new capital flowing directly into the company, earmarked for specific strategic initiatives. The offer for sale, on the other hand, involves existing shareholders selling a portion of their holdings, with the proceeds going to those shareholders rather than the company.

Strategic Deployment of IPO Proceeds

The capital raised through the fresh issue component of the JD Cables IPO is intended to be strategically utilized across several key areas to bolster the company’s operational capabilities and financial health. This planned allocation underscores JD Cables’ commitment to sustainable growth and enhancing its market position.

A significant portion of the net proceeds, approximately 53.3%, is allocated towards augmenting the company’s working capital. This is crucial for a manufacturing entity like JD Cables, ensuring smooth day-to-day operations, procurement of raw materials, and efficient inventory management. Furthermore, around 31% of the funds will be directed towards the repayment or prepayment of existing borrowings, which is expected to strengthen the company’s balance sheet by reducing its debt burden and improving its financial leverage. The remaining 15.7% is designated for general corporate purposes, providing the management with flexibility to address various strategic needs, including capital expenditures, business development activities, and other operational requirements as they arise, thereby supporting the overall growth trajectory of JD Cables.

Distinctive Advantages of JD Cables

JD Cables possesses several inherent strengths that contribute to its competitive edge and growth potential in the electrical cable and conductor industry. These advantages are built upon its operational excellence, strategic market presence, and robust infrastructure.

• Established Regional Market Presence: JD Cables has cultivated a strong and reliable presence across key eastern states of India, including Assam, Odisha, Jharkhand, Bihar, and West Bengal. This regional stronghold, coupled with its status as an approved vendor for various State Electricity Boards, provides a stable revenue base and deep understanding of local power infrastructure demands. This regional focus allows the company to cater effectively to specific market needs and maintain strong client relationships.
• Modern Manufacturing Infrastructure: The company boasts modern manufacturing facilities located in Howrah and Hooghly. These units are equipped with advanced infrastructure and sophisticated testing capabilities, enabling the production of high-quality, compliant, and durable cables and conductors. This technological edge ensures product reliability and efficiency, critical factors in the power sector. The ability to conduct rigorous in-house testing further reinforces quality control and adherence to industry standards.
• Operational Efficiency and Experienced Team: JD Cables benefits from strong operational efficiency, driven by a dedicated and experienced team. This includes a robust engineering division comprising 32 qualified engineers and a highly skilled labor force. Their expertise across various stages of manufacturing, from design to production and quality assurance, is instrumental in maintaining high standards, optimizing production processes, and ensuring timely delivery of products, thereby enhancing customer satisfaction and operational throughput.

Navigating Challenges: Potential Risk Factors for JD Cables

While JD Cables exhibits several strengths, potential investors should also be aware of certain risk factors inherent in its business model and the industry it operates in. Understanding these challenges is crucial for a comprehensive assessment.

• Dependence on Government and State Electricity Boards: A significant portion of JD Cables’ revenue is derived from contracts with government entities and various State Electricity Boards. This heavy reliance exposes the company to risks associated with government spending policies, budget allocations, payment cycles, and changes in procurement norms, which could impact its order book and financial stability.
• Intense Competitive Landscape: The cables and conductors market in India is highly competitive, characterized by the presence of numerous established national and regional players. This intense competition can lead to pricing pressures, reduced margins, and the need for continuous innovation, potentially impacting JD Cables’ market share and profitability if it cannot maintain its competitive edge.
• Raw Material Price Volatility: The manufacturing of cables and conductors is heavily dependent on key raw materials such as copper and aluminium. The prices of these commodities are subject to global market fluctuations, geopolitical events, and supply-demand dynamics. Significant volatility in raw material costs can directly impact the company’s input costs and, consequently, its profitability if these increases cannot be fully passed on to customers.
• Cyclical Nature of Power Infrastructure Spending: The demand for electrical cables and conductors is closely tied to the cyclical nature of power infrastructure development and expansion projects. Any slowdown in government investments or private sector initiatives in power generation, transmission, and distribution can directly affect the demand for JD Cables’ products, leading to potential revenue fluctuations.
• Geographic Concentration Risk: While having a strong presence in eastern India is a strength, it also presents a geographic concentration risk. A disproportionate focus on this region means that adverse economic conditions, natural calamities, or shifts in regional government policies could have a more significant impact on JD Cables’ operations and revenue compared to a more geographically diversified company.
• Working Capital Intensive Business Model: The business of manufacturing cables and conductors typically requires substantial working capital to manage inventory levels, extend credit to customers, and finance raw material procurement. A working capital intensive model necessitates continuous funding support and efficient management to ensure liquidity and operational continuity, and any disruptions in this cycle could pose a risk.

Tracking Investor Participation: Live Subscription Status

The subscription data provides insights into the level of interest garnered from various investor categories. The figures below represent the final subscription status of the JD CABLES IPO as of the closing date, September 22, 2025, at 5:00 PM.

The IPO witnessed robust demand across all investor categories, with the total issue subscribed 127.78 times. Non-Institutional Investors showed the highest interest, subscribing 179.28 times their reserved portion, followed by Qualified Institutional Buyers at 125.44 times, and Retail Individual Investors at 106.89 times.

*GMP figures are unofficial and may vary; exchange data is more reliable.

How to Participate in IPOs

Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes. Ensure you complete your application within the stipulated timelines for a smooth investment experience.