Johnsoncab Electricals IPO

The Johnsoncab Electricals SME IPO opens for subscription on 30 Oct 2026 and closes on 3 Nov 2026, offered at a price band of ₹190–200 per share, and is set to list on BSE. In total, the issue aims to mobilise ₹56.02 crore. Retail investors bid in lots of 600 shares, a minimum application of ₹2,40,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹53.18 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward additional working capital requirement (₹14 crore), alongside funding the capital expenditure requirements of the company towards: plant & machinery a) purchase of additional plant & machinery for increasing the production capacity (₹9.9 crore). In all, 6 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Johnsoncab Electricals reported revenue of ₹211.34 crore and a net profit of ₹13.42 crore. Revenue grew from ₹88.95 crore in FY2024 to ₹211.34 crore in FY2026 (+138.0%). Net worth stood at ₹31.44 crore at the end of FY2026. At the upper band, that puts the issue at roughly 11.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 15.76× post-issue earnings and 4.94× book value, against a return on net worth of 42.68% and a debt-to-equity ratio of 2.54. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Jd Cables Ltd and Prime Cable Industries Limited, with a median peer P/E of about 20.2×. The issue's own post-issue P/E works out to 15.76×.

Promoters

The promoters of the company are <p>Chandreshkumar Shankerlal Patel, Anjal Chandreshkumar Patel, Bhavanaben Chandreshkumar Patel</p>. Promoter holding stands at 100% before the issue and comes down to 73.5% after listing.

Grey market premium (GMP)

In the unofficial grey market, Johnsoncab Electricals shares are quoted at a premium of ₹9 implying an expected listing around ₹209, about +4.5% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Johnsoncab Electricals IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Johnsoncab Electricals

Johnsoncab Electricals Limited is engaged in the production of low-voltage wires and cables rated up to 1.1 kV. Its products serve various sectors, including power infrastructure, transmission and distribution, renewable energy, railways, and other industrial applications. The company markets its products under the “JOHNSON CABLES” brand and supplies to both government organisations and private sector customers. The company offers a broad range of products, including control cables, power cables, industrial single-core and multicore control cables, house wiring and building wires, welding cables, solar and photovoltaic cables, and submersible flat cables. It operates two manufacturing units in Mehsana, Gujarat, with a combined installed production capacity of 79,950 KMS annually as of Fiscal 2026. These facilities are equipped with machinery for wire drawing, annealing, bunching, insulation, extrusion, testing, and packaging. Johnsoncab Electricals Limited serves its customers through direct orders, competitive tenders, and vendor registration and approval procedures. Its products are supported by ISO and BIS certifications. The company continues to strengthen its manufacturing capabilities and focus on product development to meet evolving industry requirements. As of March 31, 2026, the company employed 167 personnel across key functions, including manufacturing, operations, quality control, sales and marketing, supply chain management, finance, and administration. Strengths Consistent revenue growth reflecting the company's ability to expand its business operations. Ongoing investments in manufacturing facilities and production capabilities. Established presence in both government and private sector markets. Diverse product range covering multiple low-voltage wire and cable applications. Focus on product development and innovation, supported by intellectual property. Established vendor credentials and eligibility to participate in government tenders. Product quality and manufacturing processes supported by ISO and BIS certifications.