Mumbai: Jainik Power and Cables IPO has opened for subscription starting today, June 10, and will remain open until June 12. The IPO price band is set between Rs 100 to Rs 110 per share.

The IPO lot size is 1,200 shares. Retail investors must invest at least Rs 1,20,000 to participate. The issue is entirely a fresh issue of 46.63 lakh shares, raising Rs 51.30 crore.

The IPO will be listed on the NSE SME platform.

Reserved Quota

Qualified Institutional Buyers (QIBs): Up to 50 percent

Retail Investors: Minimum 35 percent

Non-Institutional Investors (NIIs): Minimum 15 percent

Grey Market Premium (GMP)

The IPO is trading at zero premium in the grey market. This shows weak listing signals. However, it is not trading at a discount, which gives some hope for a positive listing.

Company Background

Jainik Power and Cables started producing aluminium rods in 2023. However, the company has been active in the power cable sector for over a decade.

Fast Track Finsec Pvt Ltd is the Book Running Lead Manager. Skyline Financial Services Pvt Ltd is the registrar.