Jainik Power and Cables IPO Day 2: Check Subscription Status, GMP Today
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Unlisted shares of Jainik Power and Cables Ltd are currently trading at Rs 117 apiece in the grey market, which is a 6.36% premium or GMP over the upper IPO price of Rs 110.
Jainik Power and Cables IPO Day 2: The initial public offering of Jainik Power and Cables Ltd, which was opened for public subscription today, June 11, has so far received a muted response. Till 10:34 am on the second day of bidding on Wednesday, the Rs 51.30-crore NSE SME IPO received a 0.74 times subscription, garnering bids for 32,86,800 shares as against 44,29,200 shares on offer.
The retail and NII participation stood at 1.09 times and 0.56 times, respectively.
The three-day Jainik Power and Cables IPO will be closed on Thursday, June 12.
Jainik Power and Cables IPO Price
The price has been fixed in the range of Rs 100 to Rs 110 apiece.
Jainik Power and Cables IPO Lot Size
The minimum lot size for an application is 1,200. The minimum amount of investment required by retail investors is Rs 1,32,000. The bidding can be done in multiple of 1,200.
Jainik Power and Cables IPO GMP Today
According to market observers, unlisted shares of Jainik Power and Cables Ltd are currently trading at Rs 117 apiece in the grey market, which is a 6.36% premium or GMP over the upper IPO price of Rs 110. It indicates mild listing gains for investors on June 11, the tentative listing date.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Shares of Jainik Power and Cables Ltd are scheduled to be listed on the NSE's SME platform on June 17.
Jainik Power and Cables IPO: More Details
The Jainik Power and Cables IPO, which is a bookbuilding of Rs 51.30 crore, is entirely a fresh issue of 46.63 lakh shares.
The IPO bidding opened for subscription on June 10, 2025, and will close on June 12, 2025.
Its price band has been fixed at Rs 100 to Rs 110 per share.
Fast Track Finsec Pvt Ltd is the book-running lead manager of the Jainik Power and Cables IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.The market maker for Jainik Power and Cables IPO is Rikhav Securities Limited.
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