JD Cables: Powering India’s Next Big Infrastructure Bet

18 September 2025

Ever wondered what goes into building the new highways, swanky residential buildings, or even the sprawling renewable energy farms popping up across India? A lot of it starts with something as fundamental as a wire. And quietly, behind the scenes, a company named JD Cables has been laying the groundwork for this transformation. Now, the West Bengal-based manufacturer is stepping into the spotlight with its public listing, aiming to accelerate its growth story in a market that is on the rise.

JD Cables Ltd, a key player in India’s wire and cable industry, is raising ₹95.99 crore through its SME IPO. The company manufactures a wide range of aluminium and copper cables used across power distribution, EPC projects, and industrial infrastructure, and has steadily scaled operations to tap into India’s growing energy and transmission needs.

• The IPO opens on September 18 and closes on September 22.  The IPO consists of a fresh issue of ₹84.41 crore and an Offer-for-Sale (OFS) of ₹11.58 crore. Promoter Piyush Garodia will sell 7.6 lakh shares via OFS, while the fresh issue includes ~55.53 lakh new shares. The IPO offered a lot size of 800 shares, requiring a minimum investment of ~₹1,21,600. The company intends to use proceeds largely for working capital, debt repayment, and general corporate purposes. 
• What makes this IPO stand out is the strong anchor book backing: a total of 20 anchor investors have committed ~₹27.05 crore, including Alpha AIF VentureX Fund I, HDFC Bank among them, which signals institutional confidence. The listing has also seen a grey market premium (GMP) jump ~20%, reflecting positive market sentiment. 
  

Financially, JD Cables has shown strong growth in recent years. In FY25, revenue stood at ₹250.70 crore (up from ~₹100.85 crore in FY24). Net profit after tax jumped to ₹22.15 crore in FY25 compared to ₹4.58 crore in FY24, indicating strong margin improvement.

In the price band of ₹144 to ₹152 per share, JD Cables is inviting the public to join its journey, hoping to connect the dots between its wires and investor returns.

The wires and cables sector in India is red-hot, driven by a trifecta of infrastructure, real estate, and industrial growth. We've seen other major players in this space, like Polycab and RR Kabel, become market darlings, and JD Cables hopes to follow a similar trajectory.