Orient Cables’ reported grey-market premium (GMP) before listing was ₹121 per share—about 45% of its ₹272 issue price—but that unofficial estimate was not the listing result. The Economic Times reported that the shares opened at ₹450 on NSE and ₹448 on BSE on October 5, 2026. Those reported openings were ₹178 and ₹176 above the issue price, respectively.
What did the 45% GMP mean—and what happened at listing?
India IPO reporting cited a pre-listing GMP of ₹121 per share against the ₹272 upper end of the issue price band. Adding the two produced an implied price of ₹393, or roughly 45% above the issue price. GMP is an informal, unregulated grey-market observation, not an official exchange quote or a dependable forecast; the report cautioned that it could change and did not guarantee the listing price. Read the pre-listing GMP report.
The Economic Times subsequently reported opening prices of ₹450 on NSE and ₹448 on BSE on October 5, 2026. These were above the ₹393 GMP-implied estimate. The issue price was ₹272, so the reported openings were about 65.4% and 64.7% higher, respectively. These are opening-price comparisons, not a claim about the shares’ later trading performance. See The Economic Times’ listing report.
| Measure | Price per share | Status and source |
|---|---|---|
| Issue price | ₹272 | Final issue price; BSE listing notice |
| Pre-listing GMP | ₹121 | Unofficial grey-market observation reported before listing; India IPO reporting |
| GMP-implied estimate | ₹393 | ₹272 issue price plus ₹121 reported GMP; estimate, not an exchange price |
| NSE opening | ₹450 | Opening price reported by The Economic Times on October 5, 2026 |
| BSE opening | ₹448 | Opening price reported by The Economic Times on October 5, 2026 |
When did the IPO take place, and what were its key terms?
The offer opened on September 25 and closed on September 29, 2026; allotment was finalized September 30. The price band was ₹258–₹272 per share, and the lot size was 55 shares. At the upper band, one lot cost ₹14,960 before any applicable charges. Trading began October 5, as scheduled in BSE’s October 1 notice. The notice lists the issue price as ₹272, the NSE symbol as ORIENTCABL, BSE scrip code 544960, and ISIN INE0J1N01028. View BSE’s listing notice.
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How was the ₹552 crore issue structured?
The Economic Times reported a total issue size of ₹552 crore, comprising a fresh issue and an offer for sale (OFS). The distinction matters: fresh-issue proceeds go to the company, while OFS proceeds go to the shareholders selling their shares.
| Component | Reported size | Who receives the proceeds? |
|---|---|---|
| Fresh issue | 1.18 crore shares, worth ₹320 crore | The company |
| Offer for sale (OFS) | 85.29 lakh shares, worth ₹232 crore | Existing shareholders selling shares |
| Total issue | ₹552 crore | Combined offer value |
According to The Economic Times, roughly ₹91.50 crore was earmarked for manufacturing capital expenditure, ₹155.50 crore for repayment or prepayment of borrowings, and the remainder for general corporate purposes. Those stated uses describe the planned allocation of proceeds; the OFS portion is a sale by existing holders rather than new money raised by the company.
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How strong was subscription demand?
The Economic Times reported that the IPO was subscribed 97.28 times overall. Its category figures were 32.21 times for retail investors, 192.68 times for qualified institutional buyers excluding anchor investors, and 121.90 times for non-institutional investors. These are reported subscription multiples, not a measure of future share performance.
What does the reported financial history show?
The Economic Times’ 2026 report put Orient Cables’ total income at ₹1,182 crore in FY26, compared with ₹832 crore in FY25. Reported profit after tax (PAT) was ₹54 crore in FY26 versus ₹53 crore in FY25. In those figures, income increased substantially while PAT was nearly unchanged; they are historical reported figures, not a forecast of future results.
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Orient Cables (India) Limited manufactures networking cables and passive networking equipment. The Economic Times described its markets as including broadband, telecommunications, data centres, renewable energy, smart-building automation and security, systems integration, FMEG, and automotive. The report says the company was incorporated in September 2005.
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