Orient Cables (India) IPO- Complete Overview
Orient Cables (India) IPO is a Mainboard IPO with an issue size of Rs. 552 Cr by Orient Cables (India) Limited, which is a manufacturer of networking cables and passive networking equipment. The company has nearly two decades of experience in the networking cables and passive networking equipment industry and caters to industries including broadband, telecommunications, data centers, renewable energy, smart building automation and security, system integration, FMEG and automotive.
Its product portfolio includes CAT5, CAT5e, CAT6 and CAT6A networking cables, patch cords; CCTV and coaxial cables; instrumentation and control cables; power cables, optical fibre cables, fibre patch cords, keystone jacks, power strips and power cords. The company also manufactures customized products based on customer requirements.
As of June 30, 2026, the company had an installed capacity of 895,776 km. It has also expanded its product portfolio into E-beam irradiated specialty cables, solar junction boxes, tethered drone systems, cable harnesses, power cords, and EV charging cables and guns. Its EV charging cables are TÜV certified.
This new IPO is to be launched on 25 Sep 2026, and its ‘initial public offering’ will end on 29 Sep 2026.
Orient Cables (India) IPO Details
This Mainline IPO comprises a combination of a fresh issue of 1.18 crore shares (Rs. 320 Cr) and an offer for sale of 0.85 crore shares (Rs. 232 Cr). The Orient Cables (India) IPO listing date (expected) might be Monday, Oct 05, 2026, and the listing on the BSE and NSE.
The Orient Cables (India) IPO price band is Rs. 258 to Rs. 272.
IPO Timetable (Tentative)
The Orient Cables (India) IPO date is from 25 Sep to 29 Sep, with IPO allotment on Sep 30, refund initiation on Oct 01, and listing on Oct 05, 2026.
|
Events |
Date |
|
IPO Opening Date |
Sep 25, 2026 |
|
IPO Closing Date |
Sep 29, 2026 |
|
IPO Allotment Date |
Sep 30, 2026 |
|
Refund Initiation |
Oct 01, 2026 |
|
IPO Listing Date |
Oct 05, 2026 |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview & Outlook
India's broadband cables market is projected to grow at a CAGR of ~17.6% from FY26-31. The market is valued at ~INR 140.9B in FY26 and is expected to grow to ~INR 317.5B by FY31
Orient Cables (India) Company Financial Performance
Orient Cables (India)- Profit & Loss
(Amount in Cr)
Orient Cables (India)- Balance Sheet
(Amount in Cr)
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
|
Net Cash Flow In Multiple Activities |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
(266.44) |
(97.85) |
421.81 |
|
Net Cash Flow Investing Activities |
(635.75) |
(598.23) |
(326.88) |
|
Net Cash Flow Financing Activities |
1,016.61 |
631.10 |
(61.02) |
Orient Cables (India) IPO- Business Model
The company earns almost all its revenue by manufacturing and selling networking cables, optical fiber cables, specialty power cables, and related passive networking products to B2B customers in high-growth sectors (telecom, broadband, data centers, etc.).
It does not have any significant retail, trading, or pure services income—it is a pure manufacturing + B2B sales business.
How the Company Earns Money
The company follows a pure B2B manufacturing model. It designs, manufactures, and sells cables and related products (mostly customized) to business customers.
|
Product Segment |
Key Products |
Approx. Revenue Share |
|
Networking Cables and Solutions (Core Business) |
CAT5, CAT5e, CAT6, CAT6A cables & variants, patch cords, CCTV cables, Coaxial cables |
68–88% (largest contributor) |
|
Specialty Power, Optical Fibre Cables and Solutions |
Power cables, control & instrumentation cables, Optical Fibre Cables (Unitube & Multitube), fibre patch cords, KNX cables |
12–31% |
|
Wire & Cable Harness Assemblies + EV Charging Guns |
Cable harnesses, EV charging cables and guns |
Very small (started in FY26) |
|
Other Allied Products |
Keystone jacks, power strips, power cords |
Very small |
Revenue Bifurcation
(Source: RHP)
Company Growth Trajectory
The Objective of the Issue
-
Funding of capital expenditure requirements of the Company towards purchase of machinery, equipment, and civil works at its manufacturing facilities. ~ Rs. 91.50 Cr.
-
Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company. ~ Rs. 155.50 Cr.
-
General Corporate Purposes.
Peers of Orient Cables (India)
|
Name of the Company |
Face Value (₹ per share) |
EPS Basic (₹) |
P/E (x) |
|
RR Kabel Limited |
5 |
43.53 |
54.85 |
|
Polycab India Limited |
10 |
177.53 |
46.69 |
|
Finolex Cables Limited |
2 |
46.67 |
26.29 |
|
Havells India Limited |
1 |
26.95 |
42.69 |
|
KEI Industries Limited |
2 |
96.09 |
48.99 |
|
Paramount Communications Limited |
2 |
1.96 |
33.47 |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 5.27 from the last year, the resulting P/E ratio is 51.61x.
Orient Cables (India) IPO Valuation
|
ROE |
13.17% |
|
ROCE |
10.36% |
|
Debt/Equity |
0.95 |
|
RoNW |
13.17% |
|
PAT Margin |
6.77% |
|
EBITDA Margin |
11.22% |
IPO's Strengths
-
Long-standing customer relationships.
-
Strategically located manufacturing facilities.
-
Presence across diverse end-user industries.
-
Customized product development capabilities.
IPO's Weaknesses
-
Due to the concentration of manufacturing facilities in Bhiwadi, Rajasthan, activities are susceptible to regional interruptions.
-
Exposed to changes in the cost of essential raw materials utilized in the production of cables.
-
With lending terms as long as 120 days, operations demand a lot of working capital, which can put a strain on cash flow if collections are delayed.
Orient Cables (India) IPO GMP Today
Orient Cables (India) IPO GMP is Rs. 0 as of September 22, 2026, when this information was written.
IPO Other Details
|
IPO Opening & Closing Date |
25 Sep 2026 to 29 Sep 2026 |
|
Face Value |
Rs. 1 per Share |
|
Issue Price |
Rs. 258 to Rs. 272 |
|
Lot Size |
55 Shares |
|
Issue Size |
2,02,94,114 shares (Rs. 552 Cr) |
|
Offer for Sale |
85,29,409 shares (Rs. 232 Cr) |
|
Fresh Issue |
1,17,64,705 shares (Rs. 320 Cr) |
|
Listing At |
BSE, NSE |
|
Issue Type |
Book Built Issue IPO |
|
Registrar |
Kfin Technologies Ltd. |
IPO Grey Market Premium
The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.
Orient Cables (India) IPO Lot Size
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (55 Shares) amounting to Rs. 14960 and 13 Lots (715 Shares) for Rs. 1,94,480, respectively, while for HNI investors, the minimum Lot is 14 (770 Shares) amounting to Rs. 2,09,440.
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
S-HNI (Minimum) |
14 Lots |
|
S-HNI (Maximum) |
66 Lots |
|
B-HNI (Minimum) |
67 Lots |
Orient Cables (India) IPO Reservation
|
Institutional Share Portion |
50% |
|
Retail Investors' Share Portion |
35% |
|
Non-Institutional Shares Portion |
15% |
Promoters and Management of Orient Cables (India) Ltd.
-
Vipul Nagpal
-
Garima Nagpal
-
Vardaan Nagpal
-
Vipul Family Trust
-
Garima Family Trust
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
82.17% |
IPO Lead Managers
- IIFL Capital Services Ltd.
Dividend Policy
The company has not paid a dividend during the last three FYs.
Orient Cables (India) IPO Review: Subscribe or Avoid?
Orient Cables shows robust top-line growth and has successfully scaled capacity. Profitability and returns remain healthy in absolute terms but have moderated as the company invests for future growth. Working capital and debt levels have risen in line with expansion.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
Orient Cables (India) IPO News
Orient Cables (India) IPO Allotment Status
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NSE IPO GMP
The NSE IPO GMP is Rs. 67 as of 21 September 2026 at 14:01 pm while writing this information.
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Finowings IPO Analysis
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