The Rs 40 crore IPO, priced within the band of Rs 78–83 per share, obtained bids 8.28 occasions the difficulty measurement, indicating wholesome demand throughout classes. Certified institutional consumers (QIBs) led the cost with a 9.91x subscription, adopted carefully by non-institutional buyers at 9.38x and retail buyers at 6.89x.
Anchor buyers, together with a clutch of home establishments, had already dedicated Rs 11.39 crore forward of the difficulty opening.
Prime Cable Industries manufactures and markets cables and wires beneath the manufacturers Primecab and Renufo. Its merchandise cater to sectors reminiscent of energy era, oil and fuel, mining, metal, and actual property.
The corporate reported a powerful monetary efficiency in FY25, with income rising 71% year-on-year to Rs 141.1 crore and revenue after tax leaping 319% to Rs 7.5 crore.
The IPO proceeds shall be used primarily for capital expenditure on civil building and buy of plant and equipment (Rs 14.46 crore), compensation of time period loans (Rs 4.48 crore), and assembly working capital necessities (Rs 7.89 crore). Submit-issue, promoter holding will cut back from 92.9% to 68.2%.On the higher finish of the value band, the inventory is valued at a post-issue P/E of 20.3 occasions FY25 earnings, which analysts say leaves little room for speedy upside.
as a Dependable and Trusted Information SupplyWith muted GMP traits, all eyes at the moment are on how the inventory performs on debut. For now, expectations are for an inventory pop capped in low single digits — if in any respect.
