Jainik Power makes negative D-Street debut; shares list at 25% discount

Jainik Power & Cables listing today: Shares of Jainik Power made a muted debut on the D-Street on Tuesday, June 17, 2024. The company's stock listed at ₹82 on the NSE SME platform, down over 25 per cent from the issue price of ₹110 per share. Post-listing, the stock was trading at ₹86.1, up 5 per cent from the listing price.
The listing price of Jainik Power was below the grey market estimates. Ahead of listing, unlisted shares of Jainik Power were trading flat at ₹110, the upper price band, according to sources tracking unofficial markets. Catch Stock Market Latest Updates Today LIVE
Jainik Power and Cables IPO subscription
Jainik Power shares offered in the price band of ₹100-110 with a lot size of 1,200 shares, received bids for 70,76,400 shares against the 46,63,200 shares offered, resulting in an oversubscription of of 1.5 times by the end of subscription period, showed NSE data.
Jainik Power and Cables IPO details
Jainik Power and Cables IPO was a fresh issue of 4.66 million equity shares to raise ₹51.3 crore. There was no offer for sale (OFS) component.
Jainik Power IPO was available for subscription from Tuesday, June 10, 2025 till Thursday, June 12, 2025. The basis of allotment of shares was finalised on Friday, 13 June, 2025.
Skyline Financial Services was the registrar of the issue. Fast Track Finsec was the book-running lead manager of the Jainik Power and Cable IPO.
According to the red herring prospectus (RHP), the company plans to utilise the net issue proceeds to meet working capital requirements, fund and set up a plant, and 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 Delhi, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand.

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