Prime Cable Industries Launches Rs 40 Crore IPO with Modest Market Premium

1 min read Updated on 22 Sept 2025, 08:45 AM

Reviewed by

Radhika SScanX News Team

Overview

Prime Cable Industries, a manufacturer of ISI-marked wires and cables, has opened its IPO to raise Rs 40 crore. The issue includes a fresh equity raise of Rs 35.02 crore and an offer-for-sale of Rs 4.99 crore. The price band is set at Rs 78-83 per share, with a minimum bid of 3,200 shares. The IPO will close on September 24, with listing scheduled for September 29 on the NSE SME platform. The company has secured Rs 11.39 crore from anchor investors. Prime Cable Industries reported a 71% increase in revenue to Rs 141.10 crore and a four-fold growth in profit after tax to Rs 7.50 crore. The IPO proceeds will be used for capital expenditure, loan repayment, working capital, and general corporate purposes.

*this image is generated using AI for illustrative purposes only.

Prime Cable Industries, a manufacturer of ISI-marked wires and cables, has opened its Initial Public Offering (IPO) to raise Rs 40.00 crore. The IPO, which commenced on September 22 and will close on September 24, is set for listing on the NSE SME platform on September 29.

IPO Details

The issue structure comprises:

A fresh equity raise of Rs 35.02 crore through 42 lakh shares
An offer-for-sale of Rs 4.99 crore via 6 lakh shares

The company has set the price band at Rs 78-83 per share, with a minimum bid requirement of 3,200 shares.

Market Response

Market observers report that shares are trading at approximately 3% grey market premium over the upper price band, indicating potential for limited listing gains.

Anchor Investment

Prime Cable Industries has successfully secured Rs 11.39 crore from anchor investors by allotting 13.7 lakh shares.

Company Profile

The company manufactures ISI-marked wires and cables under the brand names Primacab and Renufo. Its products cater to various sectors including:

Power generation
Oil & gas
Mining
Steel
Real estate

Financial Performance

Prime Cable Industries has reported strong financial growth:

Revenue increased by 71% to Rs 141.10 crore
Profit after tax grew over four times to Rs 7.50 crore

Utilization of IPO Proceeds

The funds raised through the IPO will be allocated as follows:

Rs 14.50 crore for capital expenditure
Rs 4.50 crore for loan repayment
Rs 8.00 crore for working capital
The remaining for general corporate purposes

Investors interested in the manufacturing sector, particularly in wires and cables, may find this IPO worth considering. However, it is advisable to conduct thorough research and consider one's risk appetite before making investment decisions.