JD Cables IPO GMP Gains Ahead Of Allotment Today: Check Status And Listing Date

The initial public offering of JD Cables received a stellar response, getting subscribed over 118 times on the final day of bidding on Monday. According to the data from BSE, the SME issue saw bids for more than 53.95 crore shares against just 45.35 lakh shares on offer.

The allotment of shares is expected to be finalised on Tuesday, September 23. JD Cables is likely to debut on the BSE SME platform with a tentative listing date of September 25.

Ahead of the finalisation of the allotment status, the grey market premium for the SME IPO has gained in the last few days.

The grey market premium (GMP) for JD Cables IPO was Rs 44 on September 23. With a price band cap of Rs 152, the estimated listing price is Rs 196. This suggests an expected gain of 28.95% per share on the listing day.

This is the highest GMP recorded for the SME IPO since it opened for susbcription on September 18.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

Investors who applied for the IPO can check their allotment status via the BSE website or the issue registrar's portal, MUFG Intime India Pvt. Ltd.

• Open the BSE IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx

• Select the issue type as “Equity”.

• Choose “JD Cables Ltd.” from the dropdown menu.

• Enter your application number or PAN.

• Complete the Captcha for verification.

• Click the “Search” button to check your allotment status.

• Visit the registrar website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html.

• From the dropdown menu, choose "JD Cables Ltd".

• Input your PAN, DP/Client ID, Account Number/IFSC, or Application Number.

• Click the ‘Submit’ button.

• Your allotment status will be displayed on the screen.

JD Cables' IPO is a book-built issue worth Rs 95.99 crore. It comprises a fresh issue of 56 lakh shares aggregating Rs 84.41 crore and an offer for sale of 8 lakh shares.

The price band for the IPO was fixed between Rs 144 and Rs 152 per share.

The Qualified Institutional Buyers (QIBs) portion was subscribed 125.44 times. Non-Institutional Investors (NIIs) led the charts with a 133.34 times subscription. Retail Individual Investors also showed strong interest, subscribing 106.94 times.

JD Cables, established in 2015, manufactures electrical transmission and distribution cables like power cables, control cables and conductors including AAC, AAAC, and ACSR. It operates two advanced manufacturing units in Howrah and Hooghly, West Bengal.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.