Orient Cables shares debut 65% above IPO price on NSE; here's how AceVector, Runwal Enterprises, German Green Steel listed

Shares of Orient Cables, AceVector, Runwal Enterprises and German Green Steel were listed on the stock exchanges on Monday, October 5.

Orient Cables

The stock of cables and interconnection solutions provider Orient Cables (India) Ltd debuted at ₹450 per share on the National Stock Exchange (NSE), reflecting a premium of 65.44% over the issue price of ₹272.

The stock was listed at ₹448.10 on the BSE, up 64.74% from the issue price.

The IPO was subscribed 92.27 times, with bids for 1,38,18,98,705 shares against 1,49,76,743 shares on offer. The non-institutional investors' portion fetched 115.63 times subscription, while the qualified institutional buyers (QIBs) quota was booked 182.76 times. The retail investors' category was subscribed 30.55 times.

The ₹552 crore issue was a mix of a fresh issue worth ₹320 crore and an offer for sale (OFS) component of 85.29 lakh shares totalling ₹232 crore by promoters Vipul Nagpal, Garima Nagpal, Garima Family Trust and Vipul Family Trust.

The money raised will be utilised for capital expenditure needs towards purchase of machinery, equipment and civil works at its manufacturing facilities, debt clearance and general corporate purposes.

German Green Steel

On the BSE, the scrip started trading at ₹143.50 per share, up 3.24% from the issue price.

The initial public offering was subscribed 28.98 times, as it got bids for 46,54,94,191 shares compared to 1,60,62,879 shares on offer, as per the NSE data.

The quota for NIIs attracted 54.03 times subscription, while the retail investors portion got 22.83 times subscription. The QIBs part was booked 20.93 times.

The ₹303.90 crore IPO was a fresh issue of ₹290 crore and an offer for sale (OFS) component of ₹13.90 crore by promoters Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki.

The fresh issue proceeds will be used for debt clearance and capital expenditure needs for expansion of its manufacturing unit and hybrid wind and solar power plant. A part will also be used for general corporate purposes.

AceVector

Shares of SoftBank-backed digital commerce ecosystem AceVector were listed at ₹28.32, a 11.50% discount from the issue price of ₹32 on the NSE.

On the BSE, the shares debuted at ₹28.30 per share, a 11.56% discount.

The issue was subscribed 4.93 times.

The ₹420 crore IPO was a combination of a fresh issuance of 8.97 crore shares aggregating to ₹287 crore and an OFS of ₹133 crore. The money raised will be used for marketing and business promotion, technology infrastructure costs, inorganic growth via acquisitions and general corporate purposes.

Runwal Enterprises

Shares of real estate developer Runwal Enterprises Ltd listed at par with the IPO issue price of ₹305 apiece on the NSE.

The stock made its debut at ₹306, up 0.33% from the issue price on the BSE.

The initial share sale received 2.50 times subscription. The quota for QIBs fetched 3.89 times the subscription, while the category for retail investors was subscribed 1.12 times. The portion for NIIs was booked 3.94 times.

The ₹500 crore IPO was solely a fresh issuance of 1.64 crore shares. The funds will be used for debt repayment of the company and its material subsidiaries and corporate general requirements.