Johnsoncab Electricals IPO

Johnsoncab Electricals Limited, incorporated in November 2020, manufactures low-voltage wires and cables up to 1.1 kV under the JOHNSON CABLES brand. Its product portfolio includes power cables, control cables, building wires, welding cables, solar cables and submersible flat cables. The company serves government and private-sector customers across power infrastructure, renewable energy, railways and industrial applications. It operates two manufacturing facilities in Mehsana, Gujarat, with a combined installed capacity of 79,950 kilometres annually as of FY2026. Its manufacturing processes include wire drawing, insulation, extrusion, testing and packaging. The company also benefits from ISO and BIS certifications, vendor approvals and participation in government tenders. 

Johnsoncab Electricals Limited IPO Overview 

Johnsoncab Electricals Limited is launching a bookbuilding IPO from 30 October 2026 to 3 November 2026, with a total issue size of approximately ₹56.02 crore. The issue comprises entirely fresh equity shares, with no offer for sale. The price band is ₹190 to ₹200 per share, and the face value is ₹10 per share. Investors must apply for a minimum of two lots, equivalent to 1,200 shares, requiring ₹2,40,000 at the upper price band. Small HNI applicants must apply for at least three lots, or 1,800 shares, amounting to ₹3,60,000. The tentative allotment date is 4 November 2026, while refunds and demat credit are scheduled for 5 November 2026. The company is expected to list on the BSE SME platform on 6 November 2026. ISK Advisors Pvt. Ltd. is the book-running lead manager, and Maashitla Securities Pvt. Ltd. is the registrar. A market maker portion of 1,41,600 shares is reserved for the issue. 

Johnsoncab Electricals Limited IPO Details 

Particulars	Details
IPO Date	30 October 2026 to 3 November 2026
Listing Date	6 November 2026
Face Value	₹10 per share
Issue Price Band	₹190 to ₹200 per share
Lot Size	600 shares
Total Issue Size	28,00,800 shares (aggregating up to approximately ₹56.02 crore)
Fresh Issue	28,00,800 shares (aggregating up to approximately ₹56.02 crore)
Offer for Sale	Nil
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Shareholding Pre-Issue	77,70,000 shares
Shareholding Post-Issue	1,05,70,800 shares
Market Maker Portion	1,41,600 shares (aggregating up to approximately ₹2.83 crore)
Lead Manager	ISK Advisors Pvt. Ltd.
Registrar	Maashitla Securities Pvt. Ltd.

Johnsoncab Electricals Limited IPO Reservation 

Investor Category	Shares Offered
QIB	Not more than 50% of the Offer
Retail	Not less than 35% of the Offer
NII (HNI)	Not less than 15% of the Offer

Johnsoncab Electricals Limited IPO Lot Size 

Application	Lots	Shares	Amount
Individual Investors (IND)-Minimum	2	1,200	₹2,40,000
Individual Investors (IND)-Maximum	2	1,200	₹2,40,000
S-HNI-Minimum	3	1,800	₹3,60,000
S-HNI-Maximum	8	4,800	₹9,60,000
B-HNI-Minimum	9	5,400	₹10,80,000

Johnsoncab Electricals Limited IPO Promoter Holding 

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue	73.50%

Johnsoncab Electricals Limited IPO Valuation Overview 

KPI	Value
Earnings Per Share (EPS)-Pre-Issue	₹17.27
Earnings Per Share (EPS)-Post-Issue	₹12.69
Price/Earnings (P/E) Ratio-Pre-Issue	11.58x
Price/Earnings (P/E) Ratio-Post-Issue	15.76x
Return on Net Worth (RoNW)	42.68%
Net Asset Value (NAV)	₹40.47
Return on Equity (ROE)	58.75%
Return on Capital Employed (ROCE)	39.68%
EBITDA Margin	11.43%
PAT Margin	6.38%
Debt-to-Equity Ratio	2.54x
Price-to-Book (P/B) Ratio	4.94x

Objectives of the Proceeds 

The company proposes to utilise the net proceeds from the issue for the following purposes: 

I. ₹7.89 crore will fund construction of an additional factory shed to expand manufacturing infrastructure and support increased production requirements. 

II. ₹9.90 crore will finance additional machinery to increase production capacity and improve manufacturing capabilities. 

III. ₹6.89 crore will fund machinery for manufacturing paper-insulated copper and aluminium conductors, expanding the company’s product portfolio. 

IV. ₹3.23 crore will support the installation of a rooftop solar power plant at the company’s manufacturing facilities. 

V. ₹14 crore will meet additional working capital requirements arising from business operations and anticipated growth. 

VI. General Corporate Purposes 

The stated objectives total ₹41.91 crore, while the reported gross issue is approximately ₹56.02 crore. These figures relate to net proceeds and gross issue proceeds, respectively, and should be reconciled with the final prospectus. 

Key Financials (in ₹ crore) 

Particulars	31 March 2026	31 March 2025	31 March 2024
Assets	126.64	64.28	48.44
Revenue (Total Income)	211.34	140.00	88.95
Profit After Tax	13.42	5.46	2.52
Reserves and Surplus	23.67	11.24	5.88
Total Borrowings	79.88	41.79	32.81

IPO Strengths 

I. Consistent growth in revenue demonstrating business scalability. 

II. Continued investment in manufacturing infrastructure. 

III. Ability to serve both government and private sector customers. 

IV. Diversified portfolio of low voltage wires and cables. 

V. Product innovation supported by intellectual property. 

VI. Established vendor approvals and eligibility for government tenders. 

VII. ISO and BIS certified products and quality standards. 

Peer Group Comparison 

Company Name	EPS (Basic) (₹)	NAV (₹ per share)	P/E (x)	RoNW (%)	P/BV Ratio
Johnsoncab Electricals Limited	17.81	40.47	–	42.68
Prime Cable Industries Limited	6.68	33.17	27.31	20.14	5.52
JD Cables Limited	14.07	64.82	14.78	21.70	3.25
Susan Electricals India Limited	11.96	24.68	20.19	47.42	10.04