Orient Cables (India) IPO
IPO Listing Details
- Listing Date
05 Oct 2026
- Listing Price
₹448.10
- Listing Change
64.74%
- Last Traded Price
₹386.85
Orient Cables (India) IPO Details
-
Open Date
25 Sep 2026
-
Close Date
29 Sep 2026
- IPO Price Range
₹ 258 to ₹272
- IPO Size
₹ 552.00 Cr
Orient Cables (India) IPO Timeline
Orient Cables (India) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 25-Sep-2026 | 0.01 | 3.67 | 2.56 | 2.07 |
| 28-Sep-2026 | 0.06 | 18.31 | 9.66 | 8.77 |
| 29-Sep-2026 | 192.68 | 121.90 | 32.21 | 97.28 |
Last Updated: 29 September 2026 5:45 PM by 5paisa
Orient Cables (India) Limited is a specialised manufacturer of networking cables and passive networking equipment. Its product portfolio is organised across Networking Cables and Solutions, Speciality Power and Optical Fibre Cables and Solutions, and Other Allied Products. The company supplies products including networking cables, optical fibre cables, specialty power cables, copper and optical-fibre terminated assemblies, coaxial cables, telecommunication cables, solar DC cables and wire and cable harness assemblies.
The company follows a predominantly B2B model and supplies customised products to telecom operators, original equipment manufacturers, resellers and other enterprise customers. Its products are used across broadband, telecom, data centres, renewable energy, smart-building automation and security, system integration, FMEG, automotive, defence and aerospace applications. Orient Cables operates two manufacturing facilities in Bhiwadi, Rajasthan, and one facility in Bengaluru, Karnataka. As of 30 June 2026, its installed cable manufacturing capacity stood at approximately 8,95,776 km.
Networking cables remained its largest business category in FY26, contributing 78.2% of revenue from operations. The company also serves export markets and has been expanding into adjacent specialised cable and connectivity products.
Established in: 2005
Chairman and Managing Director: Vipul Nagpal
Peers:
| Metric | Orient Cables | RR Kabel | Polycab India | Finolex Cables | Havells India | Birla Cable |
|---|---|---|---|---|---|---|
| P/E (x) | - | 54.85 | 46.69 | 26.29 | 42.69 | 63.54 |
| RoNW (%) | 25.84 | 15.65 | 22.54 | 13.42 | 18.63 | 1.94 |
| NAV Per Share (₹) | 23.11 | – | – | – | – | 84.42 |
Orient Cables (India) Objectives
The net proceeds from the Fresh Issue are proposed to be used for:
1. Funding capital expenditure towards the purchase of machinery and equipment and civil works at the company's manufacturing facilities.
2. Repayment or prepayment, in full or in part, of certain outstanding borrowings.
3. General corporate purposes.
Orient Cables IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹552.00 Cr |
| Offer For Sale | ₹232.00 Cr |
| Fresh Issue | ₹320.00 Cr |
Orient Cables IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 55 | 14190 |
| Retail (Max) | 13 | 715 | 194480 |
| S-HNI (Min) | 14 | 770 | 198660 |
| S-HNI (Max) | 66 | 3630 | 987360 |
| HNI (Min) | 67 | 3685 | 950730 |
Orient Cables IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 192.68 | 40,58,825 | 78,20,53,085 | 21,271.84 |
| Non-Institutional Buyers | 121.90 | 30,44,118 | 37,10,91,875 | 10,093.70 |
| bNII (> ₹10L) | 129.86 | 20,29,412 | 26,35,45,535 | 7,168.44 |
| sNII (< ₹10L) | 105.99 | 10,14,706 | 10,75,46,340 | 2,925.26 |
| Retail | 32.21 | 71,02,941 | 22,87,53,635 | 6,222.10 |
| Total** | 97.28 | 1,42,05,884 | 1,38,18,98,595 | 37,587.64 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 657.78 | 824.96 | 1171.65 |
| EBITDA | 58.82 | 83.86 | 96.40 |
| PAT | 40.07 | 53.32 | 53.81 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 236.58 | 293.22 | 427.19 |
| Share Capital | 1.02 | 1.02 | 10.20 |
| Total Liabilities | 149.02 | 165.68 | 246.52 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | 42.18 | -9.79 | -26.64 |
| Net Cash Generated From / (Used In) Investing Activities | -32.69 | -59.82 | -63.58 |
| Net Cash Generated From / (Used In) Financing Activities | -6.10 | 63.11 | 101.66 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | 3.39 | -6.50 | 11.44 |
Strengths
1. Orient Cables has an established presence in networking cables and passive networking products, with operations dating back to 2005.
2. Its market share in India's networking-cables industry increased from approximately 16% in FY22 to approximately 22% in FY25, based on the industry report cited in the offer documents.
3. The company has a diversified product portfolio across networking cables, speciality power cables, optical fibre products and other allied connectivity solutions.
4. Orient Cables has long-standing relationships with major B2B customers; its top 10 customers had an average relationship period of more than eight years as of FY25.
5. Manufacturing capacity reached approximately 8,95,776 km of cables as of 30 June 2026, supporting its growing operating scale and product requirements.
Weaknesses
1. Networking cables accounted for 78.2% of FY26 revenue from operations, resulting in significant dependence on one major product category.
2. Customer concentration remains high. The top 10 customers accounted for more than 74% of revenue from operations in FY25.
3. Supplier concentration is also significant, with the top 10 suppliers accounting for 77.93% of raw-material procurement in FY25.
4. Operating cash flow turned negative in FY25 as working-capital requirements increased.
5. EBITDA margin declined to approximately 8.23% in FY26 from 10.17% in FY25 despite strong revenue growth.
Opportunities
1. Growth in broadband penetration, fibre networks, 5G infrastructure and data-centre capacity can support demand for networking and optical-fibre cable products.
2. Planned capital expenditure using IPO proceeds could expand manufacturing capabilities and support additional product categories.
3. Expansion in speciality power cables, renewable-energy applications and optical-fibre solutions provides scope to reduce dependence on networking cables over time.
4. The company is expanding into products such as specialised cables and harness solutions used across newer industrial, defence and aerospace applications.
5. Growing digital infrastructure and connectivity requirements in domestic and overseas markets provide an opportunity to expand the company's B2B customer base.
Threats
1. Copper is a major raw material and its price is linked to the London Metal Exchange, while PVC-compound costs are influenced by crude-oil prices. Sharp fluctuations can affect costs and margins if increases cannot be passed on fully.
2. Dependence on a concentrated supplier base exposes the company to raw-material shortages, delays and supply-chain disruptions.
3. Competition from established cable manufacturers across networking, telecom, optical-fibre and power-cable categories can create pricing pressure.
4. Disruption at manufacturing facilities, quality failures or non-compliance with customer specifications could affect orders and customer relationships.
5. Ongoing intellectual-property and trade-name matters concerning the use of the “Orient” name may expose the business to legal and brand-related risks.
1. Revenue increased from ₹657.78 crore in FY24 to ₹1,171.65 crore in FY26, reflecting a substantial increase in business scale.
2. Orient Cables held approximately 22% of India's networking-cables market in FY25 based on the industry report referenced in its offer documents.
3. Its product portfolio provides exposure to broadband, telecom, data centres, renewable energy, smart buildings, automotive and other connectivity-led end markets.
4. ₹91.50 crore of Fresh Issue proceeds is earmarked for manufacturing-related capital expenditure, while ₹155.50 crore is proposed for repayment or prepayment of borrowings.
5. The company combines established networking-cable operations with expansion into speciality power, optical-fibre and other customised connectivity products.
India's broadband-cables market is being supported by rising data consumption, fibre-to-the-home deployment, 5G infrastructure, cloud adoption and growth in data centres. The industry report cited in the company's offer documents estimates that India's broadband-cables market could expand from approximately ₹118.4 billion in FY25 to ₹257.2 billion by FY30, representing a projected CAGR of about 16.8%.
Orient Cables participates directly in this expansion through networking cables, optical-fibre cables, telecom products and specialised connectivity solutions. Its exposure also extends to renewable energy, smart-building automation, automotive applications and data centres. The company's share of India's networking-cables industry was approximately 22% in FY25, based on the industry report referenced in the offer documents.
Planned capacity expenditure and expansion into adjacent cable categories could broaden the revenue mix. At the same time, growth will depend on managing customer and supplier concentration, raw-material volatility, working-capital requirements and competitive pricing as production volumes increase.
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FAQs
Orient Cables IPO opens from 25 September 2026 to 29 September 2026.
The size of the Orient Cables IPO is approximately ₹552 crore at the upper end of the price band. It comprises a Fresh Issue of up to ₹320 crore and an Offer for Sale of up to ₹232 crore.
The price band of Orient Cables IPO is fixed at ₹258 to ₹272 per share.
1. Login to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Orient Cables IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The minimum lot size for the Orient Cables IPO is 55 shares. This requires an investment of approximately ₹14,190 at the floor price of ₹258 per share.
The basis of allotment for the Orient Cables IPO is expected to be finalised on 30 September 2026.
The Orient Cables IPO is tentatively scheduled to list on BSE and NSE on 5 October 2026.
IIFL Capital Services Limited and JM Financial Limited are the book-running lead managers for the Orient Cables IPO.
The Fresh Issue proceeds are proposed to be used for:
1. Funding capital expenditure for machinery, equipment and civil works at manufacturing facilities.
2. Repayment or prepayment of certain outstanding borrowings.
3. General corporate purposes.