Today is the last day to subscribe to the initial public offering (IPO) of Orient Cables (India) Ltd. The initial share sale of the Gurugram-headquartered company received a decent response from investors at the end of the second day of the subscription window and was subscribed 8.32 times.
According to data available with the National Stock Exchange (NSE), the IPO received bids for 12,45,46,565 shares against 1,49,76,743 shares on offer. The portion for non-institutional investors garnered 17.37 times subscription, while the retail investor category was subscribed 9.16 times. The quota for Qualified Institutional Buyers (QIBs) received 6 per cent subscription. The issue was fully subscribed on the first day of bidding itself.
Orient Cables IPO price band
The three-day subscription window for this IPO will close today, i.e., on September 29, 2026. The IPO price band has been fixed at Rs 258-272 per share.
Orient Cables IPO GMP today
According to Investorgain, Orient Cables IPO’s unlisted shares are trading at a grey market premium (GMP) of Rs 72. Considering the upper price band of Rs 272, the company’s shares are expected to list at around Rs 344, reflecting a grey market premium of 26.47 per cent.
Orient Cables raised Rs 165.6 crore from anchor investors
Ahead of the launch of its Rs 552-crore initial public offering (IPO), the company raised Rs 165.6 crore from anchor investors. The company allotted 60,88,233 equity shares to 20 anchor investors at Rs 272 per share, the upper end of the IPO price band, according to a circular uploaded on BSE’s website.
Anchor investors included Nippon India Mutual Fund, Goldman Sachs, Ashoka Whiteoak, Aditya Birla Sun Life Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund and Edelweiss Life Insurance Company.
How does the company plan to use the proceeds?
The company will use proceeds from the fresh issue for capital expenditure on machinery, equipment, and civil works at its manufacturing facilities, as well as repayment or partial prepayment of certain borrowings.
Orient Cables IPO listing date on NSE, BSE
The share of the company is expected to make its debut on the NSE and BSE on October 5, 2026.