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Orient Cables Makes Strong Market Debut With Shares Jumping Nearly 49 Percent
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News18•05-10-2026, 19:00
Orient Cables Makes Strong Market Debut With Shares Jumping Nearly 49 Percent
- •Orient Cables India shares closed with a premium of nearly 49 per cent against the issue price of Rs 272 on Monday.
- •The stock started trading at Rs 448.10 on the BSE, rising sharply by 64.74 per cent against the issue price, and reached an intraday high of Rs 465.30.
- •On the NSE, the stock was listed at Rs 450, a premium of 65.44 per cent, finally settling with a jump of 48.89 per cent at Rs 405.
- •The company's Rs 552-crore initial public offering received 92.27 times subscription on the final day of bidding.
- •Proceeds from the fresh issue will be utilized for capital expenditure, repayment of borrowings, and general corporate purposes.
Key Questions Answered
Orient Cables shares closed with a premium of nearly 49 per cent against the issue price of Rs 272 on Monday. The stock opened at Rs 448.10 on the BSE and Rs 450 on the NSE, before finally settling at Rs 403.30 and Rs 405 respectively.
The initial share sale of Orient Cables India received 92.27 times subscription overall on the last day of bidding on Tuesday.
Proceeds from the fresh issue will be used for capital expenditure toward purchasing machinery, equipment, and civil works at its manufacturing facilities, as well as for repaying or partially prepaying certain borrowings. A portion of the funds is also allocated for general corporate purposes.
