The Orient Cables (India) Ltd IPO enters its final day of subscription on September 29, 2026. The Gurugram-based company’s Rs 552 crore public issue had attracted strong interest by the end of the second day, with the issue subscribed 8.32 times.
According to exchange data, investors had placed bids for 12,45,46,565 shares against 1,49,76,743 shares available in the issue. The non-institutional investor (NII) portion was subscribed 17.37 times, while the retail category received 9.16 times subscription. The Qualified Institutional Buyer (QIB) portion was subscribed 0.06 times. The IPO was fully subscribed on the opening day itself.
Orient Cables IPO Price Band and GMP
The three-day bidding period for the Orient Cables IPO began on September 25 and will close on September 29. The company has fixed the price band at Rs 258 to Rs 272 per equity share.
As per IPO Guru’s latest grey market data, Orient Cables shares were commanding a grey market premium (GMP) of Rs 72. Based on the upper price band of Rs 272, this indicates an estimated grey market price of around Rs 344, representing a 26.47 per cent premium. However, GMP is an unofficial market indicator and can change before listing.
Orient Cables Raises Rs 165.6 Crore from Anchor Investors
Before opening the IPO for public subscription, Orient Cables 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, which was the upper end of the IPO price band.
The anchor investor list 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 Will Orient Cables Use the IPO Proceeds?
The company plans to use funds raised through the fresh issue for capital expenditure at its manufacturing facilities. This includes spending on machinery, equipment and civil works.
A portion of the proceeds will also be used for the repayment or partial prepayment of certain outstanding borrowings.
Orient Cables IPO Listing Date
Orient Cables shares are scheduled to be listed on the NSE and BSE on October 5, 2026. The IPO opened for subscription on September 25 and closes on September 29.
Disclaimer: The grey market premium mentioned above is based on unofficial market activity and should not be treated as a guaranteed listing price or return. IPO subscription data and other details are subject to change. Investors should review the company’s official offer documents and consult a qualified financial adviser before making investment decisions.