4 listings: Solid gains in Orient Cables, AceVector disappoints; Runwal & German make flat debut

Four companies namely— Orient Cables, Runwal Enterprises, Acevector (Snapdeal) and German Green Steel & Power — made their stock market debut on Monday, October 05. after cumulatively raising Rs 1,776 crore from investors between September 25-29. Here's how listing fared for these new counters:


Orient Cables (India)
Shares of Orient Cables (India) made a blockbuster stock market debut as the stock was listed with a premium of 65.44 per cent at Rs 450 on NSE and with a premium of 64.74 at Rs 448.10 on BSE against the issue price of Rs 272. Ahead of its listing, it was commanding a grey market premium (GMP) of Rs 115-120 apiece, suggesting a listing pop of 42-44 per cent for the investors.

As of listing price, investors in Orient Cables (India) made a profit of nearly Rs 9,800 on each lot allotted to them. Orient Cables raised Rs 552 crore from its IPO, which was offered in the price band of Rs 258-272 per share with a lot size of 55 equity shares. The issue was subscribed a whopping 97.25 times, fetching little over 38.45 lakh applications with bids close to Rs 37,600 crore

Runwal Enterprises
Shares of Runwal Enterprises made a flat debut on the stock exchanges, listing at a 306 on BSE and at issue price of Rs 305 per cent on the NSE. Ahead of the listing, the stock was trading at a discount of Rs 5-10 apiece in the grey market, indicating a muted listing for the investors.

As of listing price, Runwal Enterprises investors made no profit or loss. Runwal Enterprises offered its shares at a price in the range of Rs 290-305 per share with a lot size of 49 equity shares. Its issue was entirely a fresh share sale of Rs 500 crore. The IPO was subscribed only 2.65 times, attracting nearly 1.13 lakh applications and bids worth Rs 925 crore.

Acevector (Snapdeal)
Snapdeal-parent Acevector shares started their market journey on a weak note, listing at a discount of 11.56 per cent at Rs 28.30 on the BSE and at discount of 11.50 per cent at Rs 28.32 on the NSE against the IPO issue price of Rs 32. The stock had been trading at a grey market premium (GMP) of Re 1 apiece ahead of its debut, pointing at a flat listing for the investors.

As of listing price, investors of AceVector made a loss of nearly Rs 1,730 on each lot allotted. AceVector raised Rs 420 crore through its IPO, which was launched in the price band of Rs 30-32 per share with a lot size of 468 shares. The issue received an overall subscription of more than five times getting bids worth Rs 1,170 crore through nearly 1.33 lakh applications.

German Green Steel & Power
German Green Steel & Power shares witnessed a decent listing on Monday, debuting at Rs 143 on the BSE, up 3.24 per cent, and at Rs 142 on NSE, up 2.16 per cent, over the issue price of Rs 139. In the grey market, the stock was commanding a GMP of Rs 9-11 per share before listing, implying a premium of around 6-8 per cent over the IPO price.

As of listing price, investors of German Green Steel & Power made a profit of nearly Rs 350-400 on each lot allotted. German Green Steel & Power raised around Rs 304 crore through its IPO, sold in the price band of Rs 132-139 per share with a lot size of 107 equity shares. The IPO saw a subscription of 30.50 times, getting over 16.08 lakh applications and bids worth more than Rs 6,470 crore.