Johnsoncab Electricals IPO
Johnsoncab Electricals Limited
- Price band
- ₹190 – ₹200
- Issue size
- ₹56.02 Cr
- Lot size
- 600 sh
- Bidding
- 30 Oct – 3 Nov
- Grey market
- ₹10
Face value ₹10.00
100% fresh capital
₹2,40,000 minimum
Lists 6 Nov 2026
Unofficial quote · 30 Oct
Market data to 1 Nov 2026. Company figures are as filed, sourced 29 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Growing and reasonably priced
70% of the scoring model was backed by disclosed data for Johnsoncab Electricals, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
Leveraged balance sheet
Debt-to-equity of 2.5× leaves limited headroom if demand softens or rates rise.
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
Grey market data is unofficial
GMP is an unregulated, unverifiable over-the-counter quote. It is shown as a sentiment indicator and carries no settlement guarantee.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
To apply
Closes tomorrow
You need a demat account with a linked UPI ID. Opening one is free and usually done the same day.
Open a free account (opens in a new tab, partner link)Partner link — IPOVista earns a commission if you open an account. It costs you nothing and never changes what we publish.
The company
What the business actually does
Johnsoncab Electricals Limited manufactures low-voltage (up to 1.1 kV) wires and cables, sold under the "JOHNSON CABLES" brand. Its range covers control cables, power cables, industrial single and multicore control cables, housing/building wires, and special-purpose power cables including welding, solar/photovoltaic and submersible flat cables. It runs two manufacturing units (Unit I and Unit II) at Mehsana, Gujarat, with a combined installed capacity of 79,950 KMS per annum as of Fiscal 2026, certified by an independent chartered engineer. The company holds ISO and BIS certifications and began as the partnership firm M/s. Johnson Cables in 2012 before incorporating in 2020.
The business is almost entirely business-to-business. Johnsoncab manufactures cable in-house — wire drawing, annealing, bunching, insulation, extrusion, testing and packaging — and produces against confirmed and expected orders rather than to stock. It sells through two channels: direct sales to private-sector industrial customers and to government entities, and sales to distributors. Distributors accounted for 45.17% of revenue from operations in FY24, 35.03% in FY25, 24.33% in FY26 and 24.31% in the five months to 31 August 2026, so the mix has shifted steadily toward direct and institutional business. Government work is won through a dedicated project-tendering team that monitors newspapers, government portals and tender platforms, handles pre-qualification and bid submission, and bids independently; revenue from government tenders rose from Rs 492.34 lakhs in Fiscal 2024 to Rs 3,974.98 lakhs in Fiscal 2026, supported by vendor registrations with Railways and discoms (UGVCL, JVVNL). End-use industries include energy transmission and distribution (42.12% of revenue in FY26), railways, industrial infrastructure, building and housing, agriculture/irrigation and chemicals. The company has no long-term or exclusive arrangements with its customers. It is working capital and debt intensive — the restated debt-to-equity ratio was 1.94 as at 31 August 2026 — and uses third-party logistics for both inbound raw material and outbound deliveries.
The company on paper
- Legal name
- Johnsoncab Electricals Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- —
- Sector
- Industrials · Electrical wires and cables manufacturing
- Promoters
- Mr. Chandreshkumar Shankerlal Patel, Mr. Anjal Chandreshkumar Patel, Mrs. Bhavanaben Chandreshkumar Patel
- Promoter holding, pre-issue
- 98.6%
- Promoter holding, post-issue
- 72.5%
Registry details for this issuer have not been captured yet. They are published in the prospectus once it is filed.
The numbers
Financial performance
Revenue has compounded at 54.4% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹56.02 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- —
- Total issue size
- ₹56.02 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- 77,70,000
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,41,600
Who the shares are reserved for
Share of the net offer set aside for each investor category
Select a category to see who bids in it and how allotment works there.
Percentages are of the net offer, which excludes any employee or shareholder reservation, and the 1,41,600 shares reserved for the market maker.
Use of proceeds
How the fresh issue will be spent
The prospectus states what the proceeds are for but attaches no amount to any of it, so there is nothing to scale a bar against.
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 26.1% of the company.
- Promoters
- Existing non-promoter holders
- Bought in this offer
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. The 26.50% changing hands is the whole offer over the post-issue share count of 1,05,70,800, so it covers both the new shares and any sold by existing holders.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 1. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
What issues at this level of demand have done
This issue’s book stands at 1.14×, which puts it in the 1–3× band of 2026's 114 settled issues.
- Median listing day
- +0.0%
- Opened below issue
- 47%
- Median today
- −17.4%
That is what those 114 issues did, not a forecast of what this one will do — and the book is not final until bidding closes. How every band finished →
Anchor book
Anchor investors commit one working day before the issue opens and are locked in for 30 and 90 days. Who turns up here is the first real signal of institutional appetite.
- Raised from anchors
- ₹15.90 Cr
- Anchor investors
- 7
- 50% lock-in ends
- 4 Dec 2026
- Remaining lock-in ends
- 2 Feb 2027
Lock-in dates are counted from the allotment date under SEBI’s 30- and 90-day anchor rule, not quoted from a filing.
Notable participants
Grey market premium
Premium quoted over the ₹200 cut-off price. Unofficial and unregulated — sentiment, not a forecast.
The grey market is an informal, unregulated market with no clearing house and no obligation to settle. A premium here does not guarantee a listing gain, and quotes can move sharply — this one ranged ₹10 to ₹13, a spread of ₹3, across the period shown.
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 1,200
- At cut-off price
- ₹200.00
- Amount blocked
- ₹2,40,000
One lot is 600 shares at ₹1,20,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,40,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Applying needs a demat account with a linked UPI ID, and the ₹2,40,000 is blocked rather than debited.
Partner link — IPOVista earns a commission if you open an account. It costs you nothing and never changes what we publish.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
1.30×
retail demand so far, to 30 Oct
Bidding is still open, so there are no odds to quote yet. Most of a retail book arrives on the final day, and the figure above is the exchange’s last settled total — not where this issue will end. Odds appear here once the book closes.
What the grey market implies
Arithmetic on an unofficial quote. The grey market has no clearing house and no obligation to settle — this is sentiment made numeric, not a forecast.
₹210.00
implied listing price, 5.0% over the cut-off
- Cut-off price
- ₹200.00
- Grey market premium
- ₹10.00
- If allotted 600 shares
- ₹6,000
Grey-market premiums have historically moved sharply in the days before listing and have been wrong in both directions. Treat this figure as a measure of current enthusiasm, nothing more.
If you decide to
How to apply to this issue
Nothing on this page is a recommendation to apply. If you have decided to, this is what the process needs.
Applying to Johnsoncab Electricals
You need a demat account to apply
Every IPO application in India goes through a demat account with a linked UPI ID. If you do not have one yet, opening it is free and usually done the same day.
- An IPO application needs a demat account and a UPI ID linked to it.
- The money is blocked under ASBA, not debited — only an allotment is charged.
- Applications close at 5pm IST on the final day, and most brokers stop accepting UPI mandates earlier in the afternoon.
- One application per PAN per category. Separate family members need their own PAN, demat and bank account.
Partner link — IPOVista earns a commission if you open an account. It costs you nothing and never changes what we publish.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- ISK Advisors Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- Maashitla Securities Private Limited
How these figures were checked
Reconciled to Johnsoncab Electricals's own prospectus and to exchange disclosures, then cross-checked against 1 other independently published compilation of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Red Herring Prospectus dated October 26, 2026 (520pp), hosted by the BRLM ISK Advisors - PRIMARY SOURCE for all financials, offer structure, objects, promoters, timetable · read 29 Oct 2026
- BSE issue page (id=4917, IPONo=8071) - returned HTTP 403 to WebFetch and is a client-rendered SPA with no server-side content when fetched via curl; not independently readable by me · read 29 Oct 2026
- BSE price band advertisement - downloaded successfully (3 pages, 2.0 MB) but the PDF has no extractable text layer (glyphs render as mojibake), so I could not read it · read 29 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
HGS (India)
Seismic and geophysical equipment manufacturing
Open · SME · closes tomorrow
GMP ₹30up 25.0%30 Oct
- Price band
- ₹114 – ₹120
- One application
- ₹2,88,000
- Score
- 75/100
Maxwell Engineering
Precision engineering components for underwater pelletizing systems
Open · SME · closes tomorrow
GMP ₹70up 44.3%30 Oct
- Price band
- ₹150 – ₹158
- One application
- ₹2,52,800
- Score
- 83/100
Vectras Enprocon
Oil and gas infrastructure EPC (pipelines and station works)
Open · SME · closes tomorrow
- Price band
- ₹99 – ₹105
- One application
- ₹2,52,000
- Score
- 79/100