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Jainik Power Cables IPO opens for subscription
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The 51.3 crore initial public offering of Jainik Power Cables , a manufacturer of aluminium wire rods, opened for subscription on Initial Public Offering (IPO) priced in the range of Rs 100-110 per share, will remain open until June 12, the company said in a of the company will be listed on NSE Emerge, and the investors can bid for a minimum of 1,200 shares and in multiples thereof, it IPO is entirely a fresh issue of 46.63 lakh from the IPO will be utilised for setting up a plant, repayment of debt, funding working capital requirements and general corporate purposes."The launch of our IPO marks a significant milestone in our journey of transformation from a trading-based business to a fully integrated manufacturing enterprise. The capital raised through this issue will enable us to scale our operations, optimise our financial structure, and drive long-term value creation," Jainik Power Cables' Managing Director Shashank Jain FY25, the company reported a revenue of Rs 351.7 crore and profit after tax of Rs 9.24 crore. Fast Track Finsec is the sole book running lead manager while Skyline Financial Services is the registrar for the IPO. PTI
