IPO Allotment Today: Orient Cables and German Green Lead 4 New Issues – Check Status, GMP, and Listing Date!

The initial public offerings (IPOs) of Orient Cables (India), German Green Steel & Power, Acevector (Snapdeal), and Runwal Enterprises have collectively raised Rs 1,775.90 crore from the public markets, with the basis of allotment set to be finalised today, September 30. The subscriptions for these IPOs have shown considerable interest, particularly with Orient Cables achieving a remarkable subscription rate of 92.97 times, while German Green Steel & Power, Acevector, and Runwal Enterprises witnessed subscription rates of 28.98, 4.93, and 2.50 times, respectively. The stocks are set to list on both the BSE and NSE on October 5, following their subscription window that closed on September 29.

In terms of grey market sentiment, Orient Cables has generated positive momentum, with a grey market premium (GMP) of 28.31% over its upper price band of Rs 272, indicating strong demand and investor confidence. German Green Steel & Power reflects a GMP of 9%, while Acevector and Runwal Enterprises show modest premiums of 6% and 1%, respectively. This signal from the grey market could suggest positive listing sentiments for the three companies, especially for Orient Cables, making it an attractive option for investors looking for gains upon listing.

For Indian investors, the robust subscription rates indicate a vigorous appetite in the market, particularly from qualified institutional buyers and non-institutional investors. The significant premiums in the grey market hint at favorable listing prospects, especially for Orient Cables, which is poised to deliver strong returns for retail participants. Overall, these IPOs may offer exciting investment opportunities, while investors need to evaluate their risk tolerance and assess the long-term growth potential of the companies involved before making decisions.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)