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Orient Cables, German Green Steel lead subscription activity in IPO week
The Orient Cables IPO grey market premium stood at +70, pointing to an indicated listing price of ₹342, about 25.7% above its ₹272 offer price.
LiveMint Markets said four IPOs opened for public subscription on 25 September, targeting total fundraising of about ₹1,776 crore across real estate, steel, networking and digital commerce.
The IPOs will remain open for subscription until 29 September, with Day 1 subscription rates varying by deal. German Green Steel and Power was subscribed 1.23 times so far, while Orient Cables saw subscriptions of 1.49 times.
On the grey market, LiveMint Markets reported Orient Cables IPO GMP at +70. Using the upper end of the price band and the current premium, the outlet estimated an indicated listing price of ₹342 per share, about 25.7% above the IPO price of ₹272.
The article also noted that Orient Cables IPO GMP rose from ₹34 to ₹70 over the past four sessions, reflecting a roughly ₹36 increase.