JD Cables Limited, incorporated in 2015 and headquartered in Kolkata, West Bengal, is engaged in the manufacturing of cables and conductors.
The company manufactures a wide range of high-quality cables and conductors designed for power transmission and distribution:
- Power Cables
- Control Cables
- Aerial Bunched Cables
- Single-core Service Wires
- Conductors: All Aluminium Conductor (AAC), All Aluminium Alloy Conductor (AAAC), and Aluminium Conductor Steel Reinforced (ACSR)
These products adhere to national quality standards and are certified under ISO 9001:2015, IS 398, IS 694, IS 1554, IS 7098, and IS 14255. The certifications validate JD Cables’ capability to produce durable and reliable products for the electrical industry.
JD Cables Limited operates two strategically located manufacturing units in West Bengal — one at 26/1, F Road, Belgachia, Howrah, and the other at Ward No.1, Chakundi, Star Battery Gate, Dankuni, Hooghly. Both facilities are equipped with modern infrastructure, advanced machinery, and an in-house testing laboratory.
JD Cables is an approved vendor for various State Electricity Boards, enabling it to serve government projects and large-scale contracts. Its supply network spans across multiple states including Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, Madhya Pradesh, Chhattisgarh, Meghalaya, Mizoram, and West Bengal.
As of May 31, 2025, JD Cables employed 28 permanent staff, supported by additional skilled and contract workers.
JD Cables IPO – Details
| IPO Opening Date | 18 September 2025 |
| IPO Closing Date | 22 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 63,15,200 Shares Worth ₹95.99 Crore Fresh Issue: 55,53,600 Shares Worth ₹84.41 Crore Offer For Sale: 7,61,600 Shares Worth ₹11.58 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹144 – ₹152 per share |
| Market Lot | 800 Shares |
| Min Order | 800 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
JD Cables IPO – Date Schedule
| IPO Open Date | 18 September 2025 |
| IPO Close Date | 22 September 2025 |
| Basis of Allotment | 23 September 2025 |
| Initiation of Refund | 24 September 2025 |
| Credit of Shares to Demat | 24 September 2025 |
| IPO Listing Date | 25 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 22, 2025 |
JD Cables IPO – Lots Size & Price
| 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 |
Competitive Strengths
- Experienced Management Team;
- Long standing relationships with customers;
- Consistent financial performance;
Company Promoters
- Mr. Piyush Garodia
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹40.86 Cr | ₹40.43 Cr | ₹0.32 Cr | ₹3.84 Cr |
| 31 March 2024 | ₹100.85 Cr | ₹94.72 Cr | ₹4.58 Cr | ₹17.77 Cr |
| 31 March 2025 | ₹250.70 Cr | ₹221.06 Cr | ₹22.15 Cr | ₹45.91 Cr |
Key Performance Indicator
| 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 | 32.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.69 | 8.22 |
| P/E (x) | 56.41 | 18.5 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the working capital requirements of its company; | ₹45.00 |
| Repayment/prepayment of all or certain of its borrowings availed by its Company; | ₹26.00 |
| General Corporate Purposes. | – |
✅Strengths
- Wide product range (Power, Control, Aerial Bunched Cables, AAC, AAAC, ACSR).
- ISO & BIS certified; approved vendor for State Electricity Boards.
- Modern manufacturing units with in-house testing labs.
- Strong presence across multiple states.
- Led by experienced promoter, Mr. Piyush Garodia.
⚠️Risks
- High reliance on government contracts.
- Strong competition from larger players (Polycab, RR Kabel, Finolex).
- Moderate debt and working capital intensive business.
- No dividend history in recent years.
- Operations concentrated in West Bengal.
JD Cables IPO Promoter Holding
| Pre Issue Share Holding | 97.35% |
| Post Issue Share Holding | 70.01% |
JD Cables IPO Prospectus
Company Contact Information
| JD Cables Ltd. Arch Square X2, 14th Floor, 1401, Salt Lake Sector V, Near College More, Sech Bhawan, North 24 Parganas, Salt Lake, North 24 Parganas district, West Bengal, 700091 Phone: +91 7439864020 Email: compliance@jdcables.in Website: https://jdcables.in/ |
JD Cables IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: jdcables.smeipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
JD Cables IPO Lead Manager(s)
| 1. GYR Capital Advisors Pvt.Ltd. |
JD Cables IPO FAQ
| What is JD Cables IPO? JD Cables IPO is an SME IPO. The issue is priced at ₹144 – ₹152 per equity share. The IPO is to be listed on BSE SME. |
| When JD Cables IPO will open? The IPO is to open on 18 September 2025 for QIB, NII, and Retail Investors. |
| What is JD Cables IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the JD Cables IPO Size? JD Cables IPO size is ₹95.99 Crore. |
| What is JD Cables IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1600 Shares with ₹2,43,200 amount, while the maximum bid is 1600 Shares with ₹2,43,200. |
| What is the JD Cables IPO Allotment Date? JD Cables IPO allotment date is 23 September 2025. |
| What is the JD Cables IPO Listing Date? JD Cables IPO listing date is 25 September 2025. The IPO is to be listed on the BSE SME. |
