Johnsoncab Electricals Limited IPO subscribed 22.51 times

Johnsoncab Electricals Limited’s SME initial public offering was subscribed 22.51 times before technical rejections, led by 50.74-times demand from non-institutional investors applying above Rs 10 lakh. Qualified institutional buyers excluding anchor investors subscribed 20.07 times, while individual investors subscribed 18.52 times on the initial application data.

How much was Johnsoncab Electricals’ IPO subscribed?

Johnsoncab Electricals’ issue, excluding the anchor investor portion, was subscribed 22.51 times based on 18,802 applications for 4,51,51,200 equity shares against 20,05,800 shares reserved. The total includes the market-maker reservation portion and uses application data after excluding invalid bids, declined RC10 transactions, unaccepted mandates, and withdrawn or cancelled bids, but before technical rejections.

The 20,05,800 shares available across the non-anchor categories included 9,33,600 shares for individual investors, 3,99,600 shares for non-institutional investors, 5,31,000 shares for qualified institutional buyers, or QIBs, and 1,41,600 shares for the market maker. Johnsoncab Electricals set the issue price at Rs 200 per equity share, and its proposed BSE SME listing date was Friday, November 6, 2026, subject to listing and trading approval.

Which investor group showed the highest demand for Johnsoncab Electricals?

Johnsoncab Electricals recorded its highest subscription in the non-institutional investor category for applications above Rs 10 lakh, where demand reached 50.74 times before technical rejections. This category received applications for 1,35,16,800 shares against 2,66,400 shares reserved, exceeding the 26.60-times subscription recorded in the lower non-institutional category.

The lower non-institutional category covered applications of more than two lots and up to Rs 10 lakh. It received bids for 35,43,600 shares against 1,33,200 shares reserved, while the higher-value category drew nearly four times as many applied shares and a subscription multiple almost twice as high as the lower-value category.

After technical rejections, demand in the above-Rs 10 lakh non-institutional category was 50.50 times, based on 1,34,54,400 shares applied for. Johnsoncab Electricals allotted 2,66,400 shares to 148 successful applicants in that category, compared with 1,33,200 shares to 74 successful applicants in the lower category, where post-rejection subscription was 26.39 times.

What was the institutional and anchor investor participation?

Johnsoncab Electricals’ QIB category excluding anchors was subscribed 20.07 times, with 18 applications for 1,06,59,600 shares against 5,31,000 shares available. This placed QIB demand above the 18.52-times initial subscription in the individual-investor category but below the 50.74-times demand in the higher-value non-institutional category.

The company allocated 7,95,000 shares to seven anchor investors at Rs 200 per share on October 29, 2026, aggregating Rs 15.90 crore. The seven anchor applications had sought 9,90,600 shares, and the disclosure states that no mutual funds through mutual fund schemes received an anchor allocation.

Of the 5,31,000 QIB shares allotted, alternative investment funds received 3,02,400 shares, non-banking financial companies received 2,16,000 shares, and foreign institutional investors or foreign portfolio investors received 12,600 shares. A 5% mutual-fund reservation within the net QIB portion covered 27,000 shares, but no mutual-fund bids were received, so the shares were added to the allocation for other QIBs on a proportionate basis.

What did the Johnsoncab Electricals allotment data show for retail applicants?

Johnsoncab Electricals’ individual-investor category was subscribed 18.44 times after technical rejections, with 14,345 valid applications for 1,72,14,000 shares at or above the Rs 200 issue price. The basis of allotment was finalised with BSE on November 4, 2026, and 9,33,600 shares were allotted to 778 successful applicants.

The disclosed retail basis-of-allotment table contained applications for 1,200 shares each. The allotment ratio was 778 successful applicants for every 14,345 applicants, with each successful applicant receiving 1,200 shares, rather than a partial proportionate quantity.

The final-demand data reported by BSE showed 5,16,67,800 shares, or 99.75% of 5,17,98,600 total shares bid, at the Rs 200 issue price. Bids below Rs 200 totalled 1,30,800 shares, or 0.25% of final demand, spanning bid prices from Rs 190 to Rs 199.

What were the allotment and listing steps for Johnsoncab Electricals?

Johnsoncab Electricals’ board approved the BSE-approved basis of allocation on November 4, 2026 and authorised the corporate action for allotment to successful applicants. The company said CAN-cum-allotment advices or notices would be sent to applicants’ registered email addresses and physical addresses on or before November 5, 2026.

Instructions to self-certified syndicate banks for unblocking application funds were also to be processed on or before November 5, 2026. Shares allocated to successful applicants were to be credited to beneficiary accounts by that date, subject to validation of account details with the depositories.

Johnsoncab Electricals said it was taking steps to have its shares admitted for trading on BSE SME within three working days of issue closure. The company named Maashitla Securities Private Limited as registrar to the issue and said applicants could contact the registrar if they did not receive the relevant communication within 10 days.

Conclusion

Johnsoncab Electricals’ subscription data show that demand was spread across individual, institutional and non-institutional buyers, but was most concentrated in the above-Rs 10 lakh non-institutional segment. The 50.74-times pre-rejection demand in that category was higher than the 20.07-times QIB demand and 18.52-times individual-investor demand, while nearly all final bids were placed at Rs 200.

The next disclosed event was the proposed November 6, 2026 BSE SME listing, subject to BSE SME granting listing and trading approval. The company also disclosed allotment-credit and fund-unblocking steps for completion on or before November 5, 2026, with trading admission dependent on the exchange process.