Prime Cable Industries IPO GMP, Price Review, Key Dates & Complete Details

Prime Cable Industries IPO: A Comprehensive Analysis

Prime Cable Industries Ltd., incorporated in 1997, is a reputed cable manufacturer operating under the brands “PRIMECAB” and “RENUFO.” The company specializes in manufacturing a wide range of wires and cables, including LT PVC/XLPE Power, Control, and AB Cables. With its strong market presence, investors are also closely tracking the Prime Cable Industries IPO GMP, which reflects the market sentiment and potential listing performance of the company.

Prime Cable Industries serves diverse industries such as oil and gas, transmission and distribution, and power generation, with a strong emphasis on ISI-marked, quality-certified products. The company’s in-house R&D team is working on innovative solutions, including the development of solar cables, catering to the growing renewable energy sector.

As of April 30, 2025, Prime Cable Industries employed 144 people, showcasing its robust operational capacity. With the upcoming IPO and the increasing buzz around the Prime Cable Industries IPO GMP, investors are keeping a close watch on how the company’s growth plans and market response unfold.

Prime Cable Industries IPO Details

• IPO Dates: The IPO opened on September 22, 2025, and will close on September 24, 2025.

• Issue Size: ₹40.01 Cr, consisting of a fresh issue of 42.19 lakh shares (₹35.02 Cr) and an offer for sale (OFS) of 6.01 lakh shares (₹4.99 Cr).

• Price Band: ₹78 to ₹83 per share.

• Lot Size: 1,600 shares, with a minimum investment of ₹2,65,600 for retail investors.

• Listing: The shares are scheduled to be listed on the NSE SME platform on Monday, September 29, 2025.

Company Financials

The company has shown strong financial growth, with revenue increasing by 71% from ₹82.74 crore in FY24 to ₹141.10 crore in FY25. Profit after tax (PAT) saw a significant surge, rising from ₹1.79 crore to ₹7.50 crore in the same period. The total borrowing of the company as of March 31, 2025, was ₹38.43 crore, and its net worth was ₹14.60 crore.

The Objective of the Issue

The company intends to use the net proceeds from the fresh issue for the following purposes:

• Funding capital expenditure for civil construction and machinery purchase for a new factory: ₹14.46 crore.

• Repayment of certain term loans: ₹4.48 crore.

• Meeting working capital requirements: ₹7.89 crore.

• General corporate purposes.

Listed Peers of Prime Cable Industries Ltd.

The company's listed peers in the wires and cables sector include:

• V-Marc India Limited

• Dynamic Cables Limited

• Ultracab (India) Limited

Evaluation of P/E Ratio

The P/E ratio for Prime Cable Industries at the upper price band of ₹83 is approximately 20.27 based on its FY25 earnings. In comparison, its peers have the following P/E ratios: V-Marc India (31.1), Dynamic Cables (29.2), and Ultracab (India) (13.2). This suggests that the company is priced competitively compared to some of its peers.

IPO's Strengths

• Established Brand: The company has a recognized brand portfolio with "PRIMECAB" and "RENUFO" and a wide dealer and distributor network across India.

• Strong Client Relationships: It has long-standing relationships with major customers, including EPC players, electricity boards, and PSUs, which ensures recurring business.

• Robust Financial Performance: The company has demonstrated consistent growth in revenue and profit after tax.

• Quality Focus: Adherence to ISI-certified quality standards and a focus on precision engineering provides a competitive advantage.

• Experienced Management: The company is led by an experienced and committed management team.

IPO’s Weaknesses

• High Debt-to-Equity Ratio: The company's debt-to-equity ratio as of March 31, 2025, was 2.63, which is higher than some of its peers, indicating a high reliance on borrowings.

• Dependence on Limited Suppliers: The company's reliance on a few key suppliers for raw materials poses a risk of supply disruption.

• Capital Intensive Business: The cable manufacturing industry is capital-intensive, which can put pressure on the company's financials.

Prime Cable Industries IPO GMP (Grey Market Premium)

As of September 21, 2025, the Grey Market Premium (GMP) for the Prime Cable Industries IPO was ₹3 per share. This indicates an estimated listing price of ₹86 per share (₹83 + ₹3), suggesting a potential listing gain of approximately 3.61%.

Prime Cable Industries IPO Summary

The IPO is a book-built issue aimed at raising capital for business expansion, debt repayment, and working capital needs. The company has a strong track record of revenue and profit growth and a solid market presence, but investors should be aware of the high debt levels and raw material supply risks. The IPO's valuation is reasonable compared to its peers.

Prime Cable Industries IPO Allotment Status

The allotment for the IPO is expected to be finalized on September 25, 2025. Investors can check their allotment status on the registrar's website, Skyline Financial Services Pvt. Ltd. The allotted shares are expected to be credited to demat accounts on September 26, 2025.

Promoters And Management of Prime Cable Industries Ltd.

The promoters of the company are Purshotam Singla, Naman Singla, and Nikunj Singla. Purshotam Singla is the Promoter and Managing Director, while Naman Singla and Nikunj Singla are Whole-Time Directors.

Dividend Policy

The provided information does not contain details about the company's dividend policy.

Conclusion

The Prime Cable Industries IPO GMP offers an opportunity to invest in a growing company within the expanding Indian wires and cables market. With a strong brand, robust financials, and a clear plan for using the IPO proceeds, the company is well-positioned for future growth. However, potential investors should consider the associated risks, such as high debt and dependence on a limited number of suppliers.