Prime Cable IPO oversubscribed 8.28 times: What to expect
Prime Cable Industries's IPO was a hit—oversubscribed 8.28 times.
Shares were priced at ₹78-83 each, with QIBs leading the charge (9.91x subscription), followed by non-institutional (9.38x) and retail investors (6.89x).
Despite all the buzz, early signs point to only modest listing gains when trading starts today.
Prime Cable makes cables and wires
Prime Cable makes cables and wires under the brands Primecab and Renufo.
Their products are used across industries such as power generation, oil & gas, mining, steel, and real estate.
Financials and other details
The company saw strong growth in FY25: revenue jumped 71% to ₹141.1 crore and profit after tax soared 319% to ₹7.5 crore.
IPO funds will go toward new machinery, loan repayment, and working capital needs; promoter ownership drops from 92.9% to 68.2%.
Even with high demand and anchor investor backing of ₹11.39 crore before launch, a low gray market premium (3-4%) suggests shares may list flat or just slightly up today.