IPOName: JD Cables Ltd; ListingDate: [To be confirmed]; IssueSize: [To be confirmed ₹ Cr]; PriceBand: [Min-Max placeholder]; OpenDate: [To be confirmed]; CloseDate: [To be confirmed]; LotSize: [Shares per lot]; Exchange: BSE SME; IssueType: Fresh Issue + OFS; FaceValue: ₹10; Registrar: MUFG Intime India Pvt. Ltd.
JD Cables Ltd IPO Review: Fresh Issue & OFS – Financials, SWOT & Investment View
Introduction:
JD Cables Ltd is set to enter the market with an SME IPO via BSE SME, featuring a hybrid structure of fresh issue + Offer for Sale (OFS). The company is seeking to raise funds to expand its manufacturing reach, strengthen working capital, and reduce existing debt. With 57,00,000 shares in the fresh issue and 8,00,000 by the promoter in OFS, this IPO aims for both growth and partial promoter exit. 3
For comparison, see previous SME IPOs like Sampat Aluminium IPO and Euro Pratik Sales IPO Subscription Status to understand investor sentiment in this segment.
Business & Product Portfolio:
JD Cables manufactures a wide range of cables and conductors, such as power cables, control cables, aerial bundled conductor (AB Cables), all-aluminium conductors (AAC), aluminium alloy conductors (AAAC), and ACSR conductors. The company has two manufacturing plants in West Bengal and operates with ISO 9001:2015 & BIS quality certifications. Its sales network spans across multiple states including Assam, Odisha, Jharkhand, Bihar, Tripura, and West Bengal. 4
Financial Highlights:
| Period | Revenue from Operations | Net Profit | Net Worth |
|---|---|---|---|
| FY24 | ₹100.85 Cr | ₹4.58 Cr | ₹7.83 Cr |
| 9M FY25 (till Dec 2024) | ₹169.27 Cr | ₹13.90 Cr | ₹21.73 Cr |
SWOT Analysis:
- Strengths: Strong revenue growth in 9M FY25; diverse product line; recognized quality certifications; large geographic sales spread in eastern India.
- Weaknesses: Heavy promoter holding currently; dependence on raw material costs; limited visibility on exact IPO price band and lot size until final issue document.
- Opportunities: Rising electricity infrastructure spending; potential in rural electrification; increasing demand for efficient power transmission; possibility to grow into new states.
- Threats: Volatile commodity and input prices (aluminium, copper); competitive pressures; execution risk; regulatory challenges especially for SME IPOs.
Investment View / Strategy:
For the IPO Investor, JD Cables appears to be a promising SEL-SME IPO case: strong top-line momentum, well defined fresh issue + OFS mix, and potential for listing gains if priced attractively.
Investors should watch for subscription levels, IPO pricing, and promoter shareholding post issue. If the price band is reasonable, subscribing may yield gains. However, one must account for SME IPO risks — low liquidity, narrow trading volumes, and volatility. Long-term investors might benefit more if company scales operations and maintains quality.
Conclusion:
JD Cables Ltd IPO presents both growth opportunity and partial exit for promoter. With credible financials and expanding operations, it could be a good opportunity especially for investors seeking SME IPO exposure. But until final pricing is confirmed and issue structure is clear, due diligence is essential.
Disclaimer: This post is for informational purposes only and should not be considered financial advice. Always consult with a financial advisor before investing.
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