Johnsoncab Electricals

Johnsoncab Electricals SME IPO

Upcoming

BSE SMEOpens 30 October 2026Closes 3 November 2026

Johnsoncab Electricals Limited manufactures low-voltage wires and cables rated up to 1.1 kV, marketed under the 'JOHNSON CABLES' brand. Its products serve power infrastructure, transmission and distribution, renewable…

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Live GMPSubscriptionAllotment
Price band
₹190 - ₹200
Issue size
₹56.02 Cr
Lot size
600 shares
Type
BSE SME
GMP
₹13 (+6.5%)
Est. listing
₹213
Est. profit / app
₹15,600
Retail quota
35.00%

Key ratios

As per RHP / filings
Face value
₹10
EPS
17.81
P/E ratio
11.23
RoNW
42.68%
ROE
58.75%
Debt / Equity
2.54
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Timeline

  1. IPO Opens

    30 Oct 2026

  2. IPO Closes

    3 Nov 2026

  3. Allotment

    4 Nov 2026

  4. Listing

    6 Nov 2026

IPO Timeline & Listing Details

EventDate
IPO Open Date30 October 2026
IPO Close Date3 November 2026
Allotment Date4 November 2026
Listing Date6 November 2026

Investment Categories

CategoryLotsAmount
Individual
2₹2,40,000
SHNI (Min)
3₹3,60,000
SHNI (Max)
8₹9,60,000
BHNIAbove ₹10,00,000
9₹10,80,000

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)50.00%
NII (Non-Institutional Investor)15.00%
SHNI (Small Non-Institutional Investor)5.00%
BHNI (Big Non-Institutional Investor)10.00%
Retail35.00%
Total100.00%

IPO Objectives

  • Funding capital expenditure towards construction of an additional Factory Shed for expansion (₹8.46 Crore / ₹846.34 Lakhs total estimated cost).
  • Funding capital expenditure towards purchase of additional plant & machinery to increase production capacity (₹9.90 Crore / ₹990.35 Lakhs).
  • Funding capital expenditure towards purchase of new machinery to manufacture 'Paper Insulated Copper / Aluminium Conductors' (₹8.50 Crore / ₹850.12 Lakhs).
  • Funding capital expenditure towards purchase and set-up of a rooftop solar power plant (₹3.23 Crore / ₹322.80 Lakhs).
  • Additional Working Capital Requirement (₹14.00 Crore / ₹1,400.00 Lakhs).
  • General Corporate Purposes.

Strengths

  • Consistent growth in revenue from operations, with FY26 revenue up about 51% and PAT up about 146% over FY25, demonstrating business scalability.
  • Continued investment in manufacturing infrastructure across its two Mehsana units to support future growth, with capacity of 79,950 KMS annually.
  • Ability to serve both government and private sector customers through direct orders, competitive tenders and vendor registration/approval.
  • Diverse product range covering control, power, house-wiring, welding, solar/PV and submersible cables for multiple low-voltage applications.
  • Product innovation supported by intellectual property (patent) and a focus on product development.
  • Established vendor approvals and eligibility to participate in government tenders, supported by ISO and BIS certifications.

Weaknesses

  • High financial leverage, with a debt-to-equity ratio of 2.54 as of FY26 and total borrowings of about ₹79.88 Crore, making the business sensitive to interest-rate and liquidity risk.
  • Thin margins typical of the wires-and-cables trade, with a FY26 PAT margin of only 6.38% and EBITDA margin of 11.43%, leaving limited cushion against input-cost swings.
  • Exposure to copper and aluminium price volatility, the primary raw materials, which can compress margins if not passed through.
  • Working-capital intensive operations, with ₹14.00 Crore of proceeds earmarked for additional working capital.
  • Customer and channel concentration, with a meaningful share of revenue via distributors and dependence on government tenders, exposing the Company to order-timing and counterparty risk.
  • Capital-expenditure execution risk, as the Company had not entered into definitive agreements for the new plant, machinery and factory shed to be funded from the Net Proceeds as of the RHP date.
  • Geographic concentration, with both manufacturing units located in Mehsana, Gujarat, creating single-location operational risk.
  • Short track record as a company and recent conversion to a public company (December 2025), having operated as a partnership/private company for most of its history.
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Financial Performance

Period Ended31 Mar 202631 Mar 202531 Mar 2024
Assets (₹ Cr.)126.6464.2848.44
Revenue (₹ Cr.)211.3414088.95
PAT (₹ Cr.)13.425.462.52
Net Worth (₹ Cr.)31.4414.248.88

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Johnsoncab Electricals Limited4.9411.2342.68%31.44
Susan Electricals India Limited4.6825.3347.42%38.48
JD Cables Limited2.69021.7%146.17

Subscription Details

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Company Details

  • Johnsoncab Electricals Limited
  • Registered Office: Survey No. 930, Jagudan Char Rasta, Mehsana-Ahmedabad Highway, At Linch, Jagudan, Mehsana, Gujarat - 382710, India
  • +91 96387 54022
  • office@johnsoncables.com
  • https://www.johnsoncables.com

Registrar Details

Frequently Asked Questions

What is the primary business of Johnsoncab Electricals Limited?
Johnsoncab Electricals manufactures low-voltage wires and cables rated up to 1.1 kV under the 'JOHNSON CABLES' brand, including control, power, house-wiring, welding, solar and submersible cables. It supplies power infrastructure, transmission and distribution, renewable energy, railway and industrial customers in both the government and private sectors, from two units in Mehsana, Gujarat.
When does the Johnsoncab Electricals SME IPO open and close?
The IPO opens on Friday, October 30, 2026, and closes on Tuesday, November 3, 2026. The Anchor Investor bidding date is Thursday, October 29, 2026.
What is the structure of the IPO?
The Offer is a pure book-built Fresh Issue of up to 28,00,800 Equity Shares, aggregating about ₹56.02 Crore at the cap price. There is no Offer for Sale. The total includes a 1,41,600-share Market Maker reservation (ISK Equities), leaving a Net Issue of 26,59,200 shares.
What is the price band and minimum lot size?
The price band is ₹190 to ₹200 per share (face value ₹10). The minimum application is 2 lots of 600 shares each (1,200 shares), amounting to ₹2,40,000 at the upper price band, so the minimum ticket exceeds the ₹2 Lakh retail threshold.
How did the company perform financially in FY26?
For FY2025-26 (restated), Johnsoncab reported Total Income of ₹211.34 Crore and Profit After Tax of ₹13.42 Crore, up about 51% and 146% respectively over FY25, with RoNW of 42.68%, RoE of 58.75%, RoCE of 39.68% and a PAT margin of 6.38%.
What are the objects of the Issue?
Net Proceeds will fund capital expenditure for an additional factory shed (₹8.46 Crore), additional plant and machinery for capacity (₹9.90 Crore), new machinery for Paper Insulated Copper/Aluminium Conductors (₹8.50 Crore) and a rooftop solar plant (₹3.23 Crore), plus additional working capital (₹14.00 Crore) and general corporate purposes.

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Sources

We match Johnsoncab Electricals SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Maashitla Securities Private LimitedOfficial site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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