Orient Cables (India) made a stellar stock-market debut on Monday, October 5, 2026, listing at roughly a 65% premium to its IPO price of Rs 272 per share — before the stock swung sharply and got locked in the 10% lower circuit.
The listing
On the NSE, the stock listed at Rs 450 — a 65.44% premium, or Rs 178 above the issue price. On the BSE it listed at Rs 448.10, a 64.74% premium. The company's market capitalisation stood at Rs 5,099.36 crore on the BSE after listing.
The strong open did not last. The stock later fell 10% to Rs 405 on the NSE and Rs 403.30 on the BSE, where it got locked in its lower circuit.
The IPO
The Rs 552-crore book-built issue comprised a fresh issue of 1.18 crore shares and an offer for sale of 85.29 lakh shares. The lot size was 55 shares, with a minimum retail investment of Rs 14,960 at the upper price band.
Investor demand was intense: the issue was subscribed around 100 times overall — qualified institutional buyers at 192.68 times, non-institutional investors at 121.90 times and retail investors at 32.21 times. There were 1,38,18,98,595 bids against 1,42,05,884 shares on offer.
Beat the grey market
The grey market premium ahead of listing was about Rs 121, roughly 45%, which had implied a listing near Rs 393. The actual debut comfortably beat those expectations.
A day of mixed debuts
Orient Cables was one of four mainboard IPOs to list on Monday, and the debuts contrasted sharply: AceVector listed at an 11.5% discount (Rs 28.32 against a Rs 32 issue price), Runwal Enterprises opened flat at Rs 305, and German Green Steel & Power listed at a 3.2% premium of Rs 143.50 on the BSE.
Sources:
- ET Now: Orient Cables share price: Wire stock makes a stellar debut with a 65% premium on NSE, BSE
- TradingView: Orient Cables, AceVector, Runwal Enterprises, German Green Steel make contrasting stock market debuts
The listing
On the NSE, the stock listed at Rs 450 — a 65.44% premium, or Rs 178 above the issue price. On the BSE it listed at Rs 448.10, a 64.74% premium. The company's market capitalisation stood at Rs 5,099.36 crore on the BSE after listing.
The strong open did not last. The stock later fell 10% to Rs 405 on the NSE and Rs 403.30 on the BSE, where it got locked in its lower circuit.
The IPO
The Rs 552-crore book-built issue comprised a fresh issue of 1.18 crore shares and an offer for sale of 85.29 lakh shares. The lot size was 55 shares, with a minimum retail investment of Rs 14,960 at the upper price band.
Investor demand was intense: the issue was subscribed around 100 times overall — qualified institutional buyers at 192.68 times, non-institutional investors at 121.90 times and retail investors at 32.21 times. There were 1,38,18,98,595 bids against 1,42,05,884 shares on offer.
Beat the grey market
The grey market premium ahead of listing was about Rs 121, roughly 45%, which had implied a listing near Rs 393. The actual debut comfortably beat those expectations.
A day of mixed debuts
Orient Cables was one of four mainboard IPOs to list on Monday, and the debuts contrasted sharply: AceVector listed at an 11.5% discount (Rs 28.32 against a Rs 32 issue price), Runwal Enterprises opened flat at Rs 305, and German Green Steel & Power listed at a 3.2% premium of Rs 143.50 on the BSE.
Sources:
- ET Now: Orient Cables share price: Wire stock makes a stellar debut with a 65% premium on NSE, BSE
- TradingView: Orient Cables, AceVector, Runwal Enterprises, German Green Steel make contrasting stock market debuts
