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PNN
Mumbai (Maharashtra) [India], June 9: Jainik Power Cables Limited, is a manufacturer of aluminum wire rods, has proposed its plan to go public with an Initial Public Offering on June 09, 2025 (For Anchor Investor) and June 10, 2025 (For other than Anchor Investor). The company is aiming to raise Rs 51.30 Crores at upper price band through this IPO, with shares set to be listed on the NSE Emerge. The issue size is 46,63,200 equity shares at a face value of Rs 10 each with a price band of Rs 100 - Rs 110 Per Share. Equity Share Allocation * Qualified Institutional Buyer - Up to 4,45,200 Equity Shares * Non-Institutional Investors - Not less than 19,92,000 Equity Shares * Retail Individual Investors - Not less than 19,92,000 Equity Shares * Market Maker - Up to 2,34,000 Equity Shares The net proceeds from the IPO will be utilised for setting up a plant, repayment of a portion of the loan availed by the Company, funding working capital requirements and general corporate purposes. The issue will close on June 12, 2025. The Book Running Lead Manager to the Issue is Fast Track Finsec Private Limited, and The Registrar to the Issue is Skyline Financial Services Private Limited. Mr. Shashank Jain, Managing Director of Jainik Power Cables Limited, expressed, "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. With the establishment of our aluminium wire rod production facility and adherence to global standards in quality, safety, and environmental practices, we are geared to serve the increasing demand from core sectors such as industrial manufacturing and power infrastructure. The capital raised through this issue will enable us to scale our operations, optimise our financial structure, and drive long-term value creation. This marks the beginning of an exciting new chapter in our growth journey." Ms. Sakshi, Director of Fast Track Finsec Private Limited, said, "We are pleased to be associated with Jainik Power Cables Limited as the lead manager for their Initial Public Offering. The company brings over a decade of experience in the metal industry and has quickly established itself as a quality-focused manufacturer in the aluminium wire rod segment. With operations already serving key northern markets. The aluminium wire rod industry is experiencing steady growth, fueled by rising investments in electrification and industrial development. This presents a significant opportunity for Jainik Power Cables Limited to expand its manufacturing capacity and tap into the increasing demand driven by infrastructure expansion and large-scale electrification initiatives." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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