New Delhi: According to a special ground report by The Freelance, the Indian primary market is witnessing significant traction with the launch of the 'Orient Cables IPO'. Our field investigation and market analysis indicate that the IPO has captured strong investor confidence right from day one, getting subscribed 1.20 times on the opening day itself.
Price Band and Subscription Metrics
The company has set its price band at Rs 258 to Rs 272 per share. As per reports from leading financial desks, retail and institutional bidders showed active participation from the word go. Although the Grey Market Premium (GMP) saw a slight dip from an earlier high of Rs 113 to around Rs 105, it still signals strong listing gains for early investors. The issue opened on September 25 and will remain open until September 29.
Key Highlights of the IPO
- Strong Day One: Fully subscribed on the opening day with over 100% bidding.
- GMP Trends: Currently hovering around Rs 105, reflecting sustained market sentiment.
- Bidding Window: The window stays open until the 29th of this month.
While grey market trends are unofficial indicators, the robust opening figures suggest that investor appetite for manufacturing and infrastructure-linked companies remains strong. All eyes are now set on the final day numbers to gauge the ultimate listing performance.
