Orient Cables Sets Price Band at Rs 258-272 for Rs 552-Crore IPO Opening September 25

New Delhi: Networking cables and passive networking equipment maker Orient Cables (India) Limited has finalized the price band for its initial public offering (IPO) at ₹258 to ₹272 per share, targeting a total fundraise of ₹552 crore from the primary market.

The public bidding window will open for subscription on Friday, September 25, 2026, and close on Tuesday, September 29, 2026. The bidding for anchor investors will take place a day prior, on September 24.

Issue Structure and Size Revision

The ₹552-crore book-built issue is a combination of fresh capital and a secondary sale of existing equity:

• Fresh Issue: ₹320 crore worth of new equity shares (face value of ₹1 each).
• Offer for Sale (OFS): Up to 85.29 lakh shares aggregating ₹232 crore from promoter shareholders.

Earlier, the company had filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹700 crore, which had proposed an OFS of ₹380 crore alongside the ₹320 crore fresh issue. The revised total issue is smaller by ₹148 crore, with the entire downscaling executed through a reduction in the promoter OFS component.

Allocation and Bid Details

The IPO allocation is structured across categories as follows:

• Qualified Institutional Buyers (QIBs): Not less than 50% of the net issue.
• Non-Institutional Investors (NIIs / HNIs): Not less than 15% of the offer.
• Retail Individual Investors (RIIs): Not less than 35% of the offer.

Investors can apply in minimum lot sizes of 55 shares and in multiples thereof. At the upper price band of ₹272, the minimum application amount for retail investors stands at ₹14,960.

The share allotment is scheduled to be finalized on September 30, with successful applicants expected to see shares credited to their demat accounts around October 1. Orient Cables is tentatively scheduled to make its trading debut on the BSE and NSE on October 5, 2026.

Objects of the Issue

The proceeds from the Offer for Sale will go directly to the selling shareholders. From the ₹320 crore raised through the fresh issue, the company has earmarked:

• ₹91.5 crore for capital expenditure to fund the purchase of machinery, equipment, and civil work upgrades at its manufacturing facilities.
• ₹155.5 crore toward the full or partial prepayment or repayment of outstanding borrowings.
• Remaining funds to be deployed towards general corporate purposes.

Business and Growth Drivers

Promoted by the Nagpal family, Orient Cables operates two primary manufacturing facilities located in Bhiwadi, Rajasthan, with corporate operations based in Gurugram. The company manufactures and distributes structured cabling products across three core segments: networking cables and passive solutions, specialty power cables, and optical fibre cables (OFC).

The firm serves enterprise clients across sectors including broadband, telecommunications, data centre installations, electric mobility, renewable power projects, smart-city automation, defence, and aerospace. JM Financial Limited and IIFL Capital Services Limited are acting as the book-running lead managers to the issue, while KFin Technologies Limited is the registrar.

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