Orient Cables India IPO Concludes Rs 552 Crore Issue Ahead of October 5 Bourse Listing

Orient Cables (India) Limited has concluded bidding for its Rs 552-crore initial public offering (IPO), drawing substantial bids across all categories ahead of its scheduled listing on Indian stock exchanges. The public issue, which opened for bidding on September 25 and closed on September 29, was priced in the band of Rs 258 to Rs 272 per equity share.

The book-built issue consists of a fresh issue of 1.18 crore equity shares aggregating up to Rs 320 crore, alongside an offer for sale (OFS) of 85.29 lakh equity shares worth Rs 232 crore from existing promoters and shareholders. Following the closure of bidding, the basis of allotment was finalized on September 30, with shares slated to debut on both the BSE and the National Stock Exchange (NSE) on Monday, October 5, 2026.

Key Issue Details and Investor Quotas

The issue was structured with a minimum bid lot of 55 equity shares, requiring a minimum retail application commitment of Rs 14,960 at the upper price band of Rs 272. The equity allocation structure earmarked:

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

Prior to the public bidding window, the company raised Rs 165.60 crore from anchor investors on September 24. By the end of the final bidding day, the issue saw broad interest: QIBs subscribed 182.76 times their allocated quota, while the non-institutional category reached 115.63 times subscription. The retail investor segment closed at 30.55 times oversubscription.

Objects of the Issue

Orient Cables will not receive any proceeds from the secondary offer for sale component, which goes directly to the selling shareholders. From the Rs 320 crore raised via the fresh issue, the company has earmarked:

• Rs 91.50 crore to fund capital expenditure requirements, including civil works and the procurement of machinery and equipment at its manufacturing facilities.
• Rs 155.50 crore towards full or partial prepayment and repayment of outstanding borrowings.
• The remaining amount towards general corporate purposes.

Business Operations and Sector Standing

Headquartered in New Delhi with manufacturing plants in Bhiwadi (Rajasthan) and Bengaluru, Orient Cables manufactures data communication cables (such as CAT5, CAT5e, CAT6, and CAT6A), optical fibre cables, specialized power cables, and passive networking hardware. The company commands a market share of approximately 22% to 23% in the Indian networking cables segment, catering to data centers, telecom, broadband networks, renewable energy projects, and EV charging infrastructure.

IIFL Capital Services and JM Financial served as the book-running lead managers for the issue, with KFin Technologies acting as the registrar. Following the completion of refunds and share credits, trading in the equity shares will commence under normal trading hours on October 5.

Tags: Orient Cables India IPO BSE NSE SEBI Primary Market