JD Cables IPO: Bids for 3.7cr shares received so far
JD Cables's IPO has garnered significant attention, getting bids for over 3.7 crore shares—more than eight times what was on offer by Day 2 (September 19, 2025).
Retail investors were especially keen, bidding for more than 10 times their allotted shares.
GMP at about 26%
It's not just everyday investors—big players are interested too. Qualified institutional buyers subscribed 7.2 times their quota, and non-institutional investors went for 6.2 times.
Shares are priced between ₹144 and ₹152 each, with a gray market premium of about 26%.
The IPO closes September 22.
What does JD Cables do?
Founded in West Bengal, JD Cables makes power transmission and distribution cables—think control cables and conductors used by state electricity boards across eastern and northeastern India.
They run two factories in Howrah and Dankuni.
Funds to be used for working capital, debt repayment
Money raised will help with working capital, paying off debt, and general business needs.
The offer includes both fresh shares and some from promoters.