NSE SME Prime Cable Industries’ IPO ends with 7.76 times subscription

The initial public offer (IPO) of Prime Cable Industries received bids for 2,68,06,400 shares as against 34,51,200 shares on offer. The issue was subscribed 7.76 times. Qualified Institutional Buyers (QIBs) bid for 90,68,800 shares, Non-Institutional Investors (NIIs) for 66,94,400 shares, while individual investors (IND category bidding for 2 lots) placed bids for 1,10,43,200 shares. The issue opened for bidding on 22 September 2025 and it closed on 24 September 2025. The price of the IPO was fixed between Rs 78 to Rs 83 per share. The equity shares will list on NSE's SME platform. The IPO comprised a fresh issue of 42,19,200 equity shares and offer for sale (OFS) of 6,01,600 equity shares by existing shareholders. The company intends to utilize the net proceeds for setting up a new factory to manufacture medium voltage (up to 33 kv) cables & covered conductors (project), repayment of the term loan of certain debt facilities, working capital requirement and for general corporate purposes. Ahead of the IPO, Prime Cable Industries on 19 September 2025, raised Rs 11.39 crore from anchor investors. The board allotted 13.72 lakh shares at Rs 83 per share to 7 anchor investor. Prime Cable Industries is an established Indian cable manufacturing company known for producing a wide range of high-quality wires and cables under the brand names “PRIMECAB” and “RENUFO.” Founded in 1997 as a proprietorship firm, the company has evolved over the years to serve multiple sectors, including power generation, transmission and distribution, oil & gas, mining, steel, and real estate. Its product portfolio includes low tension (LT) PVC and XLPE power cables, control cables, aerial bunched (AB) cables, and communication cables. All products are ISI-marked, adhering to Indian quality standards and reflecting the company’s strong focus on safety and reliability. As of 31 August 2025, the company had 152 employees. The company recorded revenue from operations of Rs 7.50 crore and net profit of Rs 14.09 crore for the period ended 31 March 2025.