Orient Cables IPO Opens Strong: Day 1 Subscription Crosses 1.20x as GMP Hovers Around ₹105

New Delhi: According to the ground report by The Freelance, the primary market in India is witnessing intense activity. The Initial Public Offering (IPO) of Orient Cables has officially opened for subscription, drawing significant attention from investors right from Day 1.

Subscription Status and Price Band

The company has set a price band of ₹258 to ₹272 per equity share. The issue, which opened on September 25, is slated to remain open until September 29. Market data indicates that the IPO was subscribed nearly 1.20 times on its very first day, reflecting robust early demand across retail and institutional segments.

Grey Market Premium (GMP) Trends

Tracking the grey market closely, our field sources report that the GMP for Orient Cables currently stands around ₹105. While it previously saw peaks around ₹113, market corrections have stabilized it near the current mark. Given the upper price band of ₹272, this indicates a potentially healthy listing gain for successful allottees.

Key Takeaways and Analysis

Lot Size & Investment: Investors should carefully evaluate the prescribed lot size before bidding.
Market Competition: With several major issues like Moneyview also catching market attention, grey market activity remains highly competitive.
Analyst Caution: Financial experts advise looking beyond mere GMP numbers and focusing on the underlying fundamentals of the company.

The Freelance will continue to monitor the final subscription figures and the upcoming listing performance.