The Orient Cables IPO leads in grey market premium (GMP) among four initial public offerings (IPOs) that closed subscriptions on September 29. With a GMP of Rs 72 as of 8:00 a.m. that day, it suggests a potential listing price of Rs 344 per share, indicating a 26.47% gain over the upper price band of Rs 272.
The German Green Steel & Power IPO follows with a GMP of Rs 24.5 and an implied premium of 17.63%. Acevector and Runwal Enterprises also trade at premiums, though lower.
Subscription Status and Key Details
By 9:30 a.m. on the final bidding day, the Orient Cables IPO was subscribed 8.32 times. Non-institutional investors (NIIs) led at 17.37 times, followed by retail individual investors (RIIs) at 9.16 times. Qualified institutional buyers (QIBs) subscribed only 0.06 times.
The German Green Steel & Power IPO was subscribed 5.14 times during the same period. NIIs led at 7.82 times, with RIIs at 6.15 times. QIBs subscribed 1.34 times.
The Acevector IPO, parent of Snapdeal, was subscribed 1.15 times overall. RIIs led at 1.36 times, followed by NIIs at 1.25 times and QIBs at 1.03 times.
Acevector and Runwal Enterprises GMP and Subscription Details
Acevector, the parent company of Snapdeal, recorded a grey market premium (GMP) of Rs 2 as of 8:00 a.m. on September 29. With an upper price band of Rs 32 per share, the GMP suggests a potential listing price of Rs 34, indicating a 6.25% premium over the upper issue price.
Runwal Enterprises reported a GMP of Rs 14 as of 8:00 a.m. on September 29. By 9:30 a.m. on the final bidding day, the Runwal Enterprises IPO was subscribed 0.71 times. The issue size is Rs 499.83 crore, entirely a fresh issue of 1.64 crore shares, with a price band of Rs 290-Rs 305 per share and a lot size of 49 shares.
IPO Details and GMP-Implied Gains
The Orient Cables IPO has an issue size of Rs 552 crore, comprising a fresh issue of 1.18 crore shares worth Rs 320 crore and an offer for sale of 85.29 lakh shares worth Rs 232 crore. Its price band is Rs 258-Rs 272 per share, with a lot size of 55 shares. The minimum retail investment is Rs 14,960 at the upper band.
The German Green Steel & Power IPO has an issue size of Rs 303.90 crore, with a fresh issue of 2.09 crore shares worth Rs 290 crore and an offer for sale of 10 lakh shares worth Rs 13.90 crore. Its price band is Rs 132-Rs 139 per share, and the lot size is 107 shares. The minimum retail investment is Rs 14,873 at the upper band.
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Its price band is Rs 30-Rs 32 per share, and the lot size is 468 shares. The minimum retail investment is Rs 14,976 at the upper band.
Based on GMP figures, the implied listing gain per minimum lot is highest for Orient Cables at Rs 3,960 per lot, followed by German Green Steel at Rs 2,621.50, Acevector at Rs 936, and Runwal Enterprises at Rs 686.
Expected Timelines and Key Players
All four IPOs—Orient Cables, German Green Steel & Power, Acevector, and Runwal Enterprises—opened subscriptions on September 25 and closed on September 29, 2026.
The expected allotment date is September 30, 2026, with shares listing on October 5, 2026.
Orient Cables and Acevector share IIFL Capital Services Ltd. as their book running lead manager. Kfin Technologies Ltd. is the registrar for Orient Cables, while MUFG Intime India Pvt. Ltd. handles Acevector.
German Green Steel & Power works with Systematix Corporate Services Ltd. as its book running lead manager and Bigshare Services Pvt. Ltd. as its registrar.
Runwal Enterprises has ICICI Securities Ltd. as its book running lead manager and MUFG Intime India Pvt. Ltd. as its registrar.
Investor Considerations and Risks
Minimum retail investments range from Rs 14,873 to Rs 14,976 across the four IPOs, based on their upper price bands.
