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Orient Cables (India) IPO
📅 Founded: 2005
📍 New Delhi
🌐 orientcables.in
📋 Face Value: ₹1
🏦 Market Cap: ₹3,095.35 Cr
Price Band
₹258 – ₹272
Issue Size
₹552 Cr
Lot Size
55 shares
Min. Investment
₹14,960
GMP
+₹85 (+31.2%)
Est. Return
+31.2%
Listing Date
05 Oct 2026
Registrar
KFin Technologies
Orient Cables (India) IPO at a glance
Orient Cables (India) IPO was a mainboard issue of ₹552 Cr at a price band of ₹258 – ₹272 per share, open from 25 Sep 2026 to 29 Sep 2026. It was subscribed 96 times overall (QIB 192.68x, NII 117.09x, retail 29.89x). The shares listed on BSE, NSE on 05 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Very High Interest
GMP: +31.2% above issue price
⭐ Overall Signal
Very High Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Very High Interest
96.00x subscribed
Issue Details
Fresh Issue₹320 Cr
Offer for Sale (OFS)₹232 Cr
Total Issue Size₹552 Cr
Face Value₹1
Market Cap (at issue)₹3,095.35 Cr
Listing ExchangeBSE, NSE
📅 Open Date25 Sep 2026
🔒 Close Date29 Sep 2026
✂️ Cut-off Price Date29 Sep 2026
🎟️ Allotment Date30 Sep 2026
💸 Refund Initiation01 Oct 2026
📂 Demat Credit01 Oct 2026
📈 Listing Date05 Oct 2026
Objects of the Issue
- 💰 Capital expenditure on machinery and equipment at manufacturing facilities — ₹91.50 Cr
- 💰 Repayment/prepayment of borrowings — ₹155.50 Cr
- 💰 General corporate purposes
About the Company
Orient Cables (India), founded in 2005 and based in New Delhi, makes data-networking cables (CAT5e, CAT6, CAT6A), patch cords, CCTV and coaxial cables, speciality power cables and optical-fibre cables. It has also moved into newer lines such as EV-charging cables, electron-beam irradiated cables, solar junction boxes and tethered-drone systems. Manufacturing is at Bhiwadi (Rajasthan) and Bengaluru.
Strengths
- ✅ One of the larger players in India's networking-cable market, with an estimated share of around 23% in FY26
- ✅ Income has nearly doubled in two years, from about ₹665 Cr in FY24 to ₹1,182 Cr in FY26
- ✅ Holds BIS, RDSO and DRDO approvals, which open doors to railway and defence buyers
- ✅ Newer categories such as EV-charging and solar products give it room beyond data cables
Risk Factors
- ⚠️ Profit did not keep pace with sales — FY26 PAT of ₹53.6 Cr was flat on FY25 despite ~42% higher income, so margins are thin
- ⚠️ Top 10 customers account for about 77% of revenue, with the largest alone at roughly a quarter
- ⚠️ Operating cash flow has turned negative because of inventory and receivables build-up
- ⚠️ Copper and polymer prices drive raw-material costs, and a few suppliers provide most inputs
- ⚠️ At the upper band the issue is priced at roughly 52x FY26 earnings
Subscription Status
96.00x Overall
QIB: 192.7x
NII: 117.1x
RII: 29.9x
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
100%
Pre-IPO
→ -17.8%
82.17%
Post-IPO
Founders & Leadership
VN
Vipul Nagpal
Promoter & Managing Director
Leads the company as Managing Director; the Nagpal family and family trusts are the promoter group
IPO Timeline
✓
Open Date
25 Sep 2026
✓
Close Date
29 Sep 2026
✓
Allotment Date
30 Sep 2026
✓
Listing Date
05 Oct 2026
Key Financials
Revenue₹1,182 Cr
PAT₹53.6 Cr
EPS₹11.52
P/E Ratio23.61x
ROE13.17%
Market Cap₹3,095.35 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 1181.67 | 831.86 | 664.98 |
| Profit After Tax | 53.56 | 53.32 | 40.07 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹11.52 | — |
| P/E (x) | 23.61x | — |
| ROE (%) | 13.17% | — |
| Promoter Holding | 100% | 82.17% |
| Market Cap | ₹3,095.35 Cr | |
IPO Registrar
Orient Cables (India) IPO FAQs
Orient Cables (India) IPO is a mainboard IPO with an issue size of ₹552 Cr at a price band of ₹258 – ₹272. Minimum lot size is 55 shares (minimum investment ~₹14,960). Opened on 25 Sep 2026 and closed on 29 Sep 2026. Listed on BSE, NSE. Registrar: KFin Technologies.