Johnsoncab Electricals IPO: Price Band, Dates, GMP & Review
Johnsoncab Electricals IPO is a ₹56.02 crore book-built SME issue from a Gujarat-based manufacturer of low-voltage wires and cables. The issue opened on 30 October 2026 and closes on 3 November 2026, with listing planned on the BSE SME platform on 6 November 2026. Here is the full picture — price band, dates, lot size, financials, grey market premium and a balanced review.
Johnsoncab Electricals IPO Details
The entire issue is a fresh issue of 28,01,000 equity shares — there is no offer for sale, so all the money raised goes into the company. The price band is ₹190–₹200 per share with a face value of ₹10, and the lot size is 600 shares. Retail investors apply for a minimum of 2 lots (1,200 shares), which works out to ₹2,40,000 at the upper end of the band.
| Detail | Johnsoncab Electricals IPO |
|---|---|
| Issue size | ₹56.02 crore (28,01,000 shares, 100% fresh issue) |
| Price band | ₹190–₹200 per share |
| Face value | ₹10 per share |
| Lot size | 600 shares (retail minimum: 2 lots = 1,200 shares, ₹2,40,000) |
| Issue type | Book-built, BSE SME |
| Reservation | QIB up to 50%, NII not less than 15%, Retail not less than 35% |
| Lead manager | ISK Advisors Pvt. Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Market maker reservation | 1,41,600 shares |
Johnsoncab Electricals IPO Dates
| Event | Date |
|---|---|
| IPO opens | 30 October 2026 |
| IPO closes | 3 November 2026 |
| Allotment finalisation | 4 November 2026 |
| Refunds / demat credit | 5 November 2026 |
| Listing (BSE SME) | 6 November 2026 |
Dates are tentative and subject to exchange confirmation.
About Johnsoncab Electricals
Johnsoncab Electricals, based in Mehsana, Gujarat, manufactures low-voltage wires and cables up to 1.1 kV under the 'Johnson' brand. Its products serve power infrastructure, transmission and distribution, renewable energy, railways and industrial applications. The portfolio covers control cables, power cables, industrial single and multicore cables, housing and building wires, welding cables, solar/photovoltaic cables and submersible flat cables.
The company runs two manufacturing facilities in Mehsana with a combined installed capacity of 79,950 km per annum as of FY26, and sells in India as well as export markets including Sweden and the Philippines.
Where Will the IPO Money Go?
The net proceeds are earmarked for expansion and working capital:
- Construction of an additional factory shed for expansion (about ₹8.46 crore)
- Purchase of plant and machinery, including setting up a rooftop solar power plant (about ₹14 crore)
- Equipment for paper-insulated conductors
- Additional working capital requirements
- General corporate purposes and issue expenses
Johnsoncab Electricals Financials
The company's growth over the last three financial years is steep — revenue more than doubled between FY24 and FY26, and profit grew over five times in the same period.
| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total income | 88.95 | 140.00 | 211.34 |
| Operating revenue | 88.34 | 139.79 | 210.47 |
| Profit before tax | 3.30 | 7.37 | 17.94 |
| Profit after tax | 2.52 | 5.46 | 13.42 |
| EBITDA | 5.42 | 12.14 | 24.06 |
| Net worth | 8.88 | 14.24 | 31.44 |
| Total assets | 48.44 | 64.28 | 126.64 |
At the upper price band of ₹200, the issue is priced at roughly 11.2 times FY26 earnings per share of ₹17.81. Return on net worth for FY26 was 42.68% and net asset value per share was ₹40.47, as per the offer document summaries. Note that the company has not paid a dividend in the last three financial years.
Johnsoncab Electricals IPO GMP Today
As of 1–2 November 2026, trackers report a grey market premium (GMP) of around ₹5 per share, implying an estimated listing price of about ₹205 against the ₹200 upper band — a modest 2.5% unofficial premium. The GMP had been around ₹10 on 28 October before easing to ₹5. GMP is unofficial, unregulated and can change quickly; it is not a forecast of the listing price and is not recognised by SEBI.
Johnsoncab Electricals IPO Subscription Status
On Day 1 (30 October 2026), the issue was subscribed 1.14 times overall — NII at 2.27 times and retail at 1.30 times, while the QIB portion had not yet seen bids, which is normal for SME issues where institutional bids typically arrive on the final day. Bidding remains open until 3 November 2026, and the final subscription picture will only be clear at close.
Strengths and Risks
Strengths
- 100% fresh issue — all proceeds fund growth, not promoter exits
- Strong FY24–FY26 trajectory: revenue up ~138% and PAT up ~433% over two years
- Diversified end-markets (power, renewables, railways, industry) plus exports
- Reasonable valuation at ~11.2x FY26 earnings at the upper band
- Expansion-funded capacity addition at the Mehsana plants
Risks to watch
- High working-capital intensity and negative operating cash flow in recent years, funded largely through borrowings — total borrowings were about ₹79.90 crore as of 31 March 2026
- Raw-material price volatility (copper, aluminium) with no long-term supply contracts reported
- SME-segment risks: lower liquidity after listing, higher volatility, and a ₹2,40,000 minimum retail application
- Modest grey market premium (₹5) signals muted listing-day expectations so far
- Customer and geographic concentration in a competitive cables market
Johnsoncab Electricals IPO Review: Should You Apply?
Johnsoncab Electricals offers a growth story at a valuation that does not look stretched against FY26 earnings, and the fresh-issue-only structure is a plus. The counterweight is the working-capital-heavy balance sheet, leverage, and a grey market that is pricing in only a small listing gain. Investors comfortable with SME risk may find the fundamentals worth a look, but the final subscription numbers on 3 November and the listing on 6 November will tell the fuller story. This article is for information only and is not investment advice.
FAQs
What is the Johnsoncab Electricals IPO price band?
The price band is ₹190–₹200 per share, with a face value of ₹10.
When does the Johnsoncab Electricals IPO close?
The issue closes on 3 November 2026. Allotment is expected on 4 November and listing on BSE SME on 6 November 2026.
What is the Johnsoncab Electricals IPO lot size?
The lot size is 600 shares. Retail investors must apply for at least 2 lots (1,200 shares), costing ₹2,40,000 at the upper band.
What is the Johnsoncab Electricals IPO GMP today?
Trackers report a GMP of around ₹5 as of 1–2 November 2026, implying an estimated listing price of about ₹205. GMP is unofficial and subject to change.
Is Johnsoncab Electricals IPO a fresh issue or OFS?
It is a 100% fresh issue of 28,01,000 shares worth ₹56.02 crore, with no offer for sale.
Who is the registrar for Johnsoncab Electricals IPO?
Maashitla Securities Pvt. Ltd. is the registrar; allotment results will be available on its portal after 4 November 2026.
Conclusion
Johnsoncab Electricals IPO brings a fast-growing Gujarat cables maker to BSE SME at ₹190–₹200 a share, closing 3 November and listing 6 November 2026. The financial momentum and fresh-issue structure are positives; leverage, working capital and a soft grey market premium are the watch items. Check the final subscription figures before deciding, and track the allotment on 4 November.
Also read: Vedant Poly Fabs IPO: ₹88–94 Price Band, Dates & Review and IPO GMP Today (2 Nov): EAAA Lists, BLS at 45% Premium.