The four new IPOs delivered mixed listing performance on Monday, October 5, with Orient Cables share price emerging as the strongest debut, while AceVector shares recorded the weakest. Orient Cables shares surged 65.44% over the IPO price of ₹272 to list at ₹450 on the NSE, while the stock debuted at ₹448.10 on the BSE, a 64.74% premium.
German Green Steel & Power followed with a more modest 3% premium, listing at ₹142 on the NSE against its issue price of ₹139, while its BSE debut at ₹143.50 translated into a 3.24% premium. Runwal Enterprises had a largely flat listing, opening at ₹305 on the NSE, exactly at its IPO price, while its BSE debut at ₹306 represented a marginal 0.33% premium.
At the other end of the spectrum, AceVector, the parent of Snapdeal, made the weakest debut, listing at ₹28.30 on the BSE against its IPO price of ₹32, a 11.56% discount; on the NSE, it opened at ₹28.32, down 11.50%.
Based purely on listing-day performance, Orient Cables was the clear winner, while AceVector was the weakest performer, highlighting the sharp difference between premium and discount listings among the four new IPOs.
Post-listing
However, Orient Cables, which was listed at a premium of more than 65%, was subsequently locked in a 10% lower circuit, but still traded over 48% above its IPO price.
German Green Steel & Power, which had a relatively muted debut, slipped into the red and traded below its issue price. Runwal Enterprises also turned negative after a flat listing and was trading more than 3% below its IPO price.
AceVector, meanwhile, extended its post-listing decline, falling another 8% and trading over 19% below its IPO price.
Orient Cables: Strong debut, but sharp post-listing correction
Dr Ravi Singh, Chief Research Officer at Master Capital Services, said Orient Cables made a stellar debut, listing at ₹450 on the NSE, a 65.44% premium to its ₹272 issue price. On the BSE, the stock debuted at ₹448.10, up 64.74% from the IPO price.
Singh said Orient Cables is a B2B manufacturer with nearly two decades of experience, primarily focused on networking cables and passive networking equipment. Its products cater to telecom, broadband, data centres, renewable energy, smart building automation, FMEG, automotive and e-mobility industries.
The company’s portfolio includes networking cables, CCTV and coaxial cables, optical fibre cables, cable harnesses, EV charging cables, power cords and other specialty products. It has also expanded into E-Beam-irradiated speciality cables, solar junction boxes, and tethered drone systems.
The company operates two manufacturing facilities in Bhiwadi, Rajasthan, and one in Bengaluru. As of 30 June 2026, its installed capacity stood at 895,776 km of networking, specialty power and optical fibre cables, along with 5.04 million pieces of allied products.
Singh noted that India’s networking cables market is projected to grow at an 18.7% CAGR between FY26 and FY31, while the fibre-optic cables market is expected to expand at a 17.3% CAGR over the same period.
Going ahead, investors should track revenue growth, profitability, expansion execution, capacity utilisation, order execution and operating cash flow, Singh said. For long-term investors, he suggested monitoring the company’s networking cable and passive networking equipment businesses rather than focusing solely on its strong listing-day performance.
German Green Steel: Muted debut puts focus on execution
German Green Steel & Power made a positive but subdued debut, with the stock listing at ₹142 on the NSE, a 2.16% premium to its ₹139 IPO price. However, the stock subsequently slipped into negative territory, trading below the issue price.
Singh said the company, incorporated in 2008, is a vertically integrated iron and steel manufacturer with a presence in Gujarat and a focus on TMT bars.
The company operates two manufacturing facilities in Gujarat, located at Samakhiyali and Viramgam, the latter through its material subsidiary German TMT Private Limited. Its product portfolio includes TMT bars, MS billets and sponge iron, while it has also entered value-added steel products such as cut-and-bend bars and epoxy-coated TMT bars.
Singh highlighted the structural growth opportunity in India’s TMT bar industry, which is projected to expand from ₹1,690 billion in FY22 to ₹4,112 billion by FY32.
In the near term, investors should watch the company’s ability to sustain revenue and profit growth, improve capacity utilisation and strengthen operating cash flow. Sustained improvement in margins, capacity utilisation and financial performance could help attract greater market attention, he added.
Runwal Enterprises: Flat debut raises execution focus
Runwal Enterprises made a muted debut, opening at ₹305 on the NSE, exactly in line with its IPO price. The stock later slipped into the red, trading more than 3% below its issue price.
Singh said the flat debut indicates subdued near-term investor interest despite the company’s presence across residential, commercial, retail and educational real estate.
The company operates across the real estate development cycle, from land acquisition and planning to execution, marketing and sales. As of 31 March 2026, it had 19 completed, 28 ongoing and 33 upcoming projects, with an aggregate developable area of 31.96 million sq ft across Mumbai.
Singh said India’s real estate sector is expected to maintain healthy momentum, with residential sales and the office segment providing a supportive backdrop. Mumbai remains a key residential market, with residential sales value expected to increase significantly through CY2028.
For investors, the focus now shifts to revenue growth, margins and profitability in upcoming quarterly results. Singh said consistent project execution and stronger financial performance will be important for the stock to attract greater investor interest.
AceVector: Weak listing keeps sentiment under pressure
AceVector, the parent of Snapdeal, was the weakest performer among the four IPO listings. The stock debuted at ₹28.32 on the NSE, an 11.50% discount to its ₹32 IPO price. It subsequently declined another 8% and was trading more than 19% below its issue price.
Singh said AceVector operates an asset-light, technology-led digital commerce ecosystem spanning value-focused e-commerce, e-commerce enablement SaaS and consumer brands.
Its key businesses include Snapdeal, Unicommerce eSolutions and Stellaro Brands. Snapdeal operates as a value-focused lifestyle e-commerce marketplace, while Unicommerce provides e-commerce enablement SaaS covering order, inventory, warehouse, logistics and marketing operations.
As of 31 March 2026, Unicommerce’s platforms had 353 integrations and 8,261 clients, with AI-enabled capabilities introduced during the second half of FY26.
Singh noted that India’s e-commerce market is projected to grow strongly, but the weak listing could keep near-term sentiment under pressure. Fresh investments may remain subdued until the stock finds price stability, while the longer-term outlook will depend on the company’s ability to sustain growth, improve profitability and generate stronger cash flows.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
