The scrip was listed at Rs 82, a discount of 25.45% compared with the initial public offer (IPO) price. The stock was currently up about 1% over its listing price.
The counter hit a high of Rs 86.10 and a low of Rs 82. About 8.34 lakh shares of the company changed hands at the counter.
Jainik Power & Cables' IPO was subscribed 1.51 times. The issue opened for bidding on 10 June 2025 and it closed on 12 June 2025. The price band of the IPO was set at Rs 100 - 110 per share.
The IPO comprised fresh issue of 46,63,200 shares. The promoter and promoter group shareholding diluted to 67.35% from 99.97% pre-issue.
The company intends to utilize the net proceeds for working capital requirement, fund and set up a plant, repayment of portion of loan availed by the company and general corporate purpose.
Jainik Power & Cables primarily engaged in operations into the production of aluminium wire rods. It is a manufacturer and supplier of aluminum wire rods with quality practices and compliant with the environmental, health, and safety (EHS) in the manufacturing industry as certified with the ISO certificates held by the company. The firm supply products across various states, mainly in Delhi, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand. As on 31st March 2025, the company's work force comprised 71 full time employees.
The company recorded revenue from operations of Rs 351.68 crore and net profit of Rs 9.23 crore for the period ended 31 March 2025.