German Green Steel and Power continued its positive momentum with shares listing at a 3.24% premium on BSE at ₹143.50 and 2.16% premium on NSE at ₹142, following its strong IPO performance. The iron and steel manufacturer, which focuses on TMX Bars with a strong presence in Gujarat, maintained its 28.98 times subscription from the three-day bidding period that concluded on September 29, 2026. According to Zee Business Managing Editor and market expert Anil Singhvi, the issue received a good response with the stock expected to list near or slightly above the issue price of ₹139. Singhvi had suggested keeping a stop-loss below the IPO price for investors holding the stock.
German Green Steel's IPO was subscribed 28.98 times, comprising a fresh issue of up to ₹290 crore and an offer for sale of 10 lakh shares worth ₹13.90 crore. The ₹303.90 crore IPO opened for subscription on September 25, 2026, and closed on September 29, with the retail portion subscribed 22.83 times, QIB (ex-anchor) category at 20.93 times, and NII category at 54.03 times. Orient Cables' IPO was subscribed 97.28 times, comprising a fresh issue of up to ₹320 crore and an offer for sale of shares worth up to ₹232 crore. AceVector was subscribed 4.93 times, its IPO comprising a fresh issue worth ₹287 crore and an OFS of 4.16 crore shares worth ₹133 crore at the upper end of the price band. Runwal Enterprises was subscribed 2.50 times, with its IPO comprising an entirely fresh issue of up to ₹500 crore, reduced from its earlier plan of ₹1,000 crore.
German Green Steel and Power is an iron and steel manufacturer based mainly in western India with a strong presence in Gujarat. The company focuses on TMX Bars and operates mainly on a business-to-business model, serving distributors, dealers and institutional buyers. Its German TMT brand has established recognition for TMT bars in Gujarat. Orient Cables (India) Limited, established in 2005, manufactures networking cables and passive networking equipment for sectors such as telecommunications, broadband, data centres, renewable energy, smart buildings and automotive. Its portfolio includes CAT5 to CAT6A cables, CCTV and coaxial cables, patch cords, optical fibre cables and connectivity products. In FY26, the company expanded into wire and cable harness assemblies and EV charging gun cable assemblies, along with customised products such as keystone jacks, power strips and power cords.
According to Dr. Ravi Singh, Chief Research Officer at Master Capital Services, Orient Cables' strong listing reflects its positioning in networking cables and passive networking equipment. He emphasized that investors should track whether the company can sustain revenue growth, improve profitability and execute expansion plans while maintaining healthy working capital and cash flows. For German Green Steel & Power, investors should focus on the company's ability to sustain revenue and profit growth and utilise its manufacturing capacity effectively. The outlook for AceVector's weak listing suggests it could keep near-term sentiment under pressure, with fresh investor participation likely to wait for price stability, depending on the company's ability to sustain growth and improve profitability.
