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Johnsoncab Electricals IPO Date, GMP, Review, Price, Allotment Details
Updated
Johnsoncab Electricals listed on BSE SME on 6 Nov 2026. Its issue price was ₹200. The IPO was subscribed 23.61 times overall. Bidding ran from 30 Oct to 3 Nov 2026 with a lot size of 600 shares.
- Price band
- ₹190–200
- Lot size
- 600 shares
- Minimum investment
- ₹2,40,000 (2 lots)
- Bidding
- 30 Oct – 3 Nov 2026
- Listing
- 6 Nov 2026
- Issue size
- ₹56 crore
- Exchange
- BSE SME
- Registrar
- Maashitla Securities Pvt. Limited
Johnsoncab Electricals IPO GMP today
| Last GMP before listing | ₹0 per share |
|---|---|
| Price band (upper) | ₹200 |
| Implied listing price | ₹200 (+0%) |
| Last updated | 27 Oct 2026, 4:01 pm IST |
What GMP means: the grey market premium is an unofficial price that some traders quote before listing. It is not regulated and not published by the exchanges.
GMP often changes sharply and is not a prediction of the listing price. For official demand, check the subscription figures on this page.
About Johnsoncab Electricals
Johnsoncab Electricals is a Gujarat-based maker of low-voltage wires and cables rated up to 1.1 kV. Its cables are used in power infrastructure, transmission and distribution, renewable energy, railways and general industry. Products are sold under the JOHNSON CABLES brand to both private companies and government bodies.
The company was incorporated in November 2020. Its promoters are Chandreshkumar Shankerlal Patel, the managing director, who has about 37 years of experience in the submersible pump and cable trade; Anjal Chandreshkumar Patel, whole-time director and chief financial officer; and Bhavanaben Chandreshkumar Patel, a non-executive director. The promoter family owns 100% of the company before the issue, falling to about 73.5% afterwards.
The product range covers control cables, power cables, industrial single and multicore control cables, house and building wires, welding cables, solar cables and submersible flat cables. Manufacturing takes place at two units in Mehsana district, with combined capacity of about 79,950 km a year as of FY2026. The products carry ISO and BIS certification.
Sales come from direct orders, government tenders and vendor approvals. Customer concentration is meaningful: the largest customer made up about 18% of FY2026 revenue and the top five about 54%. The company had 167 employees at the end of March 2026.
Revenue has grown quickly. Total income rose from ₹88.95 crore in FY2024 to ₹140.00 crore in FY2025 and ₹211.34 crore in FY2026. Profit after tax went from ₹2.52 crore to ₹5.46 crore and then ₹13.42 crore. EBITDA margin improved to about 11.4% and profit margin to about 6.4% in FY2026, which is typical of a cable maker that passes on metal costs. Return on equity was about 59%.
Growth has been funded largely by debt: borrowings rose to ₹79.88 crore against net worth of ₹31.44 crore, a debt-to-equity ratio of about 2.5. Cash flow from operations was negative in each of the last three years.
The IPO is a fresh issue of about ₹56.02 crore, with no sale by existing shareholders. The money is earmarked for a new factory shed (₹7.89 crore), more plant and machinery (₹9.90 crore), machinery for paper-insulated copper and aluminium conductors (₹6.89 crore), a rooftop solar plant (₹3.23 crore) and working capital (₹14.00 crore), with the balance for general corporate purposes. No money is set aside to repay debt.
At the upper price of ₹200, the company would be valued at about ₹211 crore after the issue. This is about 15.8 times FY2026 earnings on the enlarged share base. Listed cable peers named in the offer documents trade at roughly 15 to 27 times earnings.
Things to watch include high debt and interest costs, negative operating cash flow, rising working capital needs, swings in copper and aluminium prices, dependence on a few large customers, price pressure in tenders, timely completion of the expansion, and the minimum application of ₹2.4 lakh on a thinly traded SME platform.
Products and services
- Control cables
- Power cables
- Industrial single and multicore control cables
- House and building wires
- Welding cables
- Solar/PV cables
- Submersible flat cables
Key strengths
- Consistent revenue growth
- Ongoing investment in manufacturing capacity
- Serves both government and private customers
- Diversified cable portfolio
- Product innovation backed by intellectual property
- Vendor approvals and eligibility for government tenders
- ISO and BIS certified products
SWOT analysis
Strengths
- Revenue up about 51% and PAT up about 146% in FY26
- Improving EBITDA margin (about 11.4% in FY26)
- Two Mehsana units with about 79,950 km annual capacity
- Promoter with about 37 years of industry experience
Weaknesses
- High leverage (debt-to-equity about 2.5)
- Negative operating cash flow in FY24, FY25 and FY26
- Top five customers about 54% of revenue
- Thin net margin of about 6.4%
Opportunities
- Demand from power T&D, renewables and railways
- New paper-insulated conductor line widens product range
- Rooftop solar to cut power costs
- Capacity expansion funded by IPO
Threats
- Copper and aluminium price volatility
- Price pressure in government tenders
- Competition from larger cable makers
- Rising working capital and interest costs
- Limited liquidity on the SME platform
SWOT is a neutral summary of public information and the offer document. It is not a recommendation.
Johnsoncab Electricals IPO review: an honest look at the numbers
Here is an honest look at what the numbers say about the Johnsoncab Electricals IPO. We don't tell you to apply or to stay away. We lay out the facts so you can decide.
- Issue size: At ₹56 crore, this is a small issue.
- Price: The price band is ₹190–200 per share. The smallest application costs ₹2,40,000 at the top of the band.
- Demand: Bids so far cover the shares on offer 23.61 times, which is strong demand.
- Promoters: Promoter holding falls from 100% to 73.5% after the issue.
- Brokers: Of the 1 broker note we track, 0 say subscribe, 1 is neutral and 0 say avoid.
- Risks: The company lists 8 key risks in its offer document. We summarise them in our notes below.
- SME platform: SME shares usually trade less often than mainboard shares, and the minimum application is larger. That can make it harder to sell quickly.
Before you decide
Read the "Risk factors" and "Objects of the issue" chapters of the RHP for the Johnsoncab Electricals IPO. They explain what could go wrong and how the money will be used.
Ask yourself whether you would hold the shares if they listed below the issue price. Invest only money you will not need soon.
This review summarises public data. It is not a rating or a recommendation to apply.
Johnsoncab Electricals IPO subscription status
Updated · final figures
| Category | Times subscribed |
|---|---|
| Total | 23.61× |
A figure of 3× means investors bid for three times the shares on offer in that category.
Johnsoncab Electricals IPO lot size and minimum investment
One lot of the Johnsoncab Electricals IPO is 600 shares. At the upper price band of ₹200, one lot costs ₹1,20,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum application | 2 | 1,200 | ₹2,40,000 |
| Next size up (HNI) | 3 | 1,800 | ₹3,60,000 |
SME IPOs have a larger minimum application than mainboard issues. Bids above the minimum are made in whole lots.
Johnsoncab Electricals IPO employee quota, anchor investors and bids
Employee quota
No. The Johnsoncab Electricals IPO has no separate quota for employees.
Anchor investors
| Lock-in on 50% of anchor shares ends | Sat, 5 Dec 2026 30 days |
|---|---|
| Lock-in on remaining 50% ends | Wed, 3 Feb 2027 90 days |
Lock-in dates are counted from the allotment date under SEBI rules. Shares coming out of lock-in can add selling pressure around those dates.
How much QIB, NII and retail investors bid
Updated
| Category | Shares on offer | Times subscribed | Amount bid |
|---|---|---|---|
| Qualified institutional buyers (QIB, excluding anchors) | ₹11.2 cr | — | — |
| Non-institutional investors (NII) | ₹8.4 cr | — | — |
| Retail investors | ₹19.6 cr | — | — |
| Total (excluding anchors) | ₹39.2 cr | 23.61× | ≈ ₹926 cr |
≈ marks an estimate: times subscribed × the value of shares on offer at the upper price band. Amount bid is demand, not money invested; most bidders receive fewer shares and get the rest refunded.
Johnsoncab Electricals listed peers
| Company | P/E | RoNW |
|---|---|---|
| Susan Electricals India | 20.19× | 47.42% |
| JD Cables | 14.78× | 21.70% |
| Prime Cable Industries PRIMECAB | 27.31× | 20.14% |
Listed peers named in the company's offer document. P/E and RoNW change with share prices and results; the IPO's P/E uses its market cap at the upper band and latest annual profit.
Johnsoncab Electricals IPO date and timeline
- Bidding opens
- Bidding closes
- Basis of allotment
- Refunds start
- Shares credited to demat
- Listing
Approve your UPI mandate before 5 pm on the closing day, or the bid is rejected.
What happens after bidding closes
Bidding closed on 3 Nov 2026. The registrar then works out who gets shares, and the basis of allotment was finalised on 5 Nov 2026.
If you don't get shares, the money blocked in your bank account is released from 5 Nov 2026. If you do, the shares reach your demat account the same day.
The Johnsoncab Electricals IPO listed on BSE SME on 6 Nov 2026, when trading in the shares begins.
Johnsoncab Electricals financials
What brokers say about the Johnsoncab Electricals IPO
Of the 1 broker note we track, 0 say subscribe, 1 is neutral and 0 say avoid.
| Firm | Rating | Main reason | Source |
|---|---|---|---|
| Chanakya Nipothi 27 Oct 2026 | Strong growth and wide product range, but leverage and cash conversion need tracking | Read note |
Ratings are the published views of each firm, not Marketasset's. We don't rate IPOs.
Marketasset notes on the Johnsoncab Electricals IPO
Use of proceeds
- Construction of factory shed for expansion: ₹7.89 cr
- Additional plant and machinery for capacity expansion: ₹9.90 cr
- Machinery for paper-insulated copper/aluminium conductors: ₹6.89 cr
- Rooftop solar power plant: ₹3.23 cr
- Additional working capital: ₹14.00 cr
- General corporate purposes: balance (amount not specified)
Promoter holding
Before the issue: 100%. After the issue: 73.5%. Promoters: Chandreshkumar Shankerlal Patel Anjal Chandreshkumar Patel Bhavanaben Chandreshkumar Patel.
Key risks the company lists
- High debt (₹79.88 cr borrowings vs ₹31.44 cr net worth)
- Negative operating cash flow for three straight years
- Customer concentration (top customer about 18%, top five about 54% of FY26 revenue)
- Copper and aluminium price swings
- Rising working capital needs
- Execution risk on expansion
- Tender pricing pressure and competition
- High minimum application and limited SME liquidity
Other observations
The book-built issue has a price band of ₹190-200 and a lot of 600 shares, so the minimum individual application is 2 lots (1,200 shares, ₹2,40,000 at the upper band). It is an entirely fresh issue of 28,00,800 shares (about ₹56.02 cr) with no offer for sale; 1,41,600 shares (about ₹2.83 cr) are reserved for the market maker, whose name had not been published.
Anchor investor details, including the anchor bid date and amount, were not available at the time of writing. Allotment is expected on 4 November and listing on BSE SME on 6 November 2026. ISK Advisors is the book-running lead manager and Maashitla Securities is the registrar. Post-issue market capitalisation at the upper band is about ₹211.42 cr, and the post-issue P/E is about 15.76x on FY26 earnings (pre-issue 11.58x).
Data conflicts: FY26 basic EPS is quoted as ₹17.81 in the peer table but ₹17.27 elsewhere (PAT over pre-issue shares), likely reflecting weighted-average share counts; one source lists the lot as 1,200 shares, which is the 2-lot minimum application rather than the lot size; one source labels ₹211.42 cr as pre-IPO market cap though it matches the post-issue share count; RoE (58.75%) and RoNW (42.68%) differ by definition; and the grey market premium was shown as nil or not quoted on 27 October.
These notes describe the offer document. They are not a rating or a recommendation.
How to apply for the Johnsoncab Electricals IPO
- Choose your bid. Pick the number of lots (minimum ₹2,40,000) and tick "cut-off price" so your bid counts at the final price.
- Apply through UPI or ASBA. Use your broker's app with your UPI ID, or your bank's net banking (ASBA). The money is blocked, not debited.
- Approve the UPI mandate in your UPI app before 5 pm on the closing day.
- Check allotment after the allotment date, as explained in the next section.
This is an SME IPO: the minimum application is larger than for mainboard issues, and shares trade on the SME platform.
How to check Johnsoncab Electricals IPO allotment status
The basis of allotment for the Johnsoncab Electricals IPO was finalised on 5 Nov 2026. After that, you can check your status in any of these places.
- Registrar's website: open Maashitla Securities Pvt. Limited's allotment page, choose Johnsoncab Electricals and enter your PAN or application number.
- BSE: BSE's allotment status page. Select the issue type and name, then enter your application number and PAN.
- NSE: NSE's IPO bid verification page. Log in with your PAN to see your bid and allotment.
- Your bank or broker: the UPI mandate is either debited (shares allotted) or released (not allotted), usually by SMS.
IPO rules, including how retail shares are allotted by lottery when an issue is oversubscribed, are set by SEBI.
Johnsoncab Electricals IPO listing performance
| Issue price | ₹200 |
|---|---|
| Current price 13 Nov 2026, 3:48 am IST | ₹252.95 |
| Change from issue price | +26.48% |
Johnsoncab Electricals IPO FAQs
When does the Johnsoncab Electricals IPO open and close?
The Johnsoncab Electricals IPO was open for bidding from 30 Oct 2026 to 3 Nov 2026.
What is the price band and lot size of the Johnsoncab Electricals IPO?
The price band is ₹190–200 per share and one lot is 600 shares.
What is the minimum investment in the Johnsoncab Electricals IPO?
The smallest application is 2 lots (1,200 shares), which costs ₹2,40,000 at the top of the price band.
When is the Johnsoncab Electricals IPO allotment date and how do I check my status?
The basis of allotment was finalised on 5 Nov 2026. You can check your allotment status on the website of the registrar, Maashitla Securities Pvt. Limited, using your PAN or application number, or on the BSE and NSE websites.
When will Johnsoncab Electricals shares list?
Johnsoncab Electricals listed on BSE SME on 6 Nov 2026.
Who are the lead managers and registrar of the Johnsoncab Electricals IPO?
The registrar is Maashitla Securities Pvt. Limited.
How many times has the Johnsoncab Electricals IPO been subscribed?
The Johnsoncab Electricals IPO was subscribed 23.61 times overall. Figures as of 3 Nov 2026, 11:34 am IST.
Does the Johnsoncab Electricals IPO have an employee quota?
No. The Johnsoncab Electricals IPO has no separate quota for employees.
Who are the listed peers of Johnsoncab Electricals?
Listed companies comparable to Johnsoncab Electricals include Susan Electricals India, JD Cables and Prime Cable Industries.
What do brokers say about the Johnsoncab Electricals IPO?
Of the 1 broker note we track, 0 say subscribe, 1 is neutral and 0 say avoid. These are the firms' own views; Marketasset does not rate IPOs.