Orient Cables IPO Day 3: Shares Soar with 27% GMP as Subscription Surges Past 8 Times!

The Orient Cables IPO has entered its third and final day of bidding, showcasing robust interest from investors. The issue has been subscribed 8.32 times overall, with the Retail Individual Investors (RIIs) category seeing a particularly high subscription rate of 9.16 times. The IPO price is set in the band of Rs 258–272 per share, with a lot size of 55 shares. This constitutes a total offering of Rs 552 crore, which includes both a fresh issue and an offer for sale. Investors can anticipate the allotment to be finalized on September 30, with shares expected to list on the NSE and BSE on October 5, 2026.

The grey market sentiment for the Orient Cables IPO indicates a premium of approximately Rs 72 per share, or about 27%, above the upper end of the issue price. This robust grey market premium suggests strong investor confidence, projecting an estimated listing price around Rs 344 per share. However, it’s essential to acknowledge that the grey market is unofficial and can experience fluctuations based on market sentiment and conditions leading up to the listing.

For Indian investors, the strong subscription levels and positive grey market sentiment could signify a strong debut for Orient Cables on its listing day. Investors should consider both the short-term listing gains and the company’s long-term fundamentals, including its expansion plans funded by the IPO proceeds. With a stable financial performance and growing income, Orient Cables may present an appealing investment opportunity for those looking to diversify their portfolios in the infrastructure and networking sectors.

Source: The Economic Times

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