Q1. What is the business of Orient Cables (India) Limited?

Orient Cables (India) Limited manufactures and exports an extensive range of specialized networking, optical fiber, and power cables.

Q2. Why is the company raising funds via IPO?

Orient Cable is raising funds via IPO to expand manufacturing capacity, repay existing debt, and support general corporate requirements.

Q3. What is the issue size of the IPO and where will it list?

The issue size of the IPO is ₹700 crore. It will bed listed on both BSE and NSE platform.

Q4. What are the risks to an investor?

Investors in Orient Cables (India) Limited face risks such as high client concentration, raw material price volatility, and ongoing brand name litigation.

Q5. What are the potential upsides?

Potential upsides to invest in the IPO include a dominant market position, surging average order values, robust international expansion, and improving EBITDA margins.

Q6. How to apply for the IPO?

Investors can apply through ASBA via net banking or using UPI through registered stock brokers.

Q 7. When is the tentative listing date?

The specific listing date is currently pending, but listing is expected in the first half of 2026.

#permalink Orient Cables (India) Limited: New IPO, Price, GMP, Profit, Analysis, Pros & Cons

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Orient Cables (India) Limited: New IPO, Price, GMP, Profit, Analysis, Pros & Cons

Market Cap

₹ 3,095 Crore

IPO Issue Size

₹ 552 Crore

Expected Price by IPOCorner

₹ 258 – 272

IPO Score

*Score varies on actual price

Orient Cables (India) Limited is a manufacturing company specializing in networking cables and passive networking equipment, serving high-growth sectors such as broadband, telecom, data centres, renewable energy, smart building automation, system integration, FMEG, and automotive with a diversified product portfolio that includes networking cables and solutions, speciality power cables, optical fibre cables and allied products.

Orient Cables (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise up to ₹ 552 crore through an Initial Public Offering (IPO), structured as a Fresh Issue of ₹ 320 Crore and an Offer for Sale (OFS) of ₹ 232 Crore by promoters.

It was incorporated on September 15, 2005, although its roots and brand presence date back to 2002, currently Mr. Vipul Nagpal is the Managing Director of Orient Cables (India) Limited.

It is also recognized as one of India’s top five players in the networking cables industry, with an estimated ~22% market share in the organized networking cables segment in India for FY 2025 according to industry research.

Subscription date to apply for Orient Cables (India) Limited starts on 25th Sep’26 & closes on 29th Sep’26. Price band for the IPO is in the range ₹ 258 – 272 with a lot size of 55 Shares.

Year	2025
Networth	180.7Cr
Revenue	₹ 824.9Cr
EBITDA	₹ 83.8Cr
PAT	₹ 53.3 Cr
EBITDA Margin	~10.17%
PAT Margin	~6.41%
Face Value	Rs.01 per Equity Share

IPO Important Dates

#	Date
Open Date	25-Sep'26
Close Date	29-Sep'26
Anchor Investor Bidding	24-Sep'26
Allotment Date	30-Sep'26
Refunds& Demat Credit	01-Oct'26
Tentative Listing Date	05-Oct'26

Use Of Proceeds

Purpose	Amount
Borrowing payment	~ ₹ 155.5 Cr
Purchase of machinery & equipments	~ ₹ 91.5 Cr
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 544	₹ 658	₹ 825
PAT (₹ Cr)	₹ 26	₹ 40	₹ 53
Asset (₹ Cr)	₹ 237	₹ 293	₹ 427
Net Worth (₹ Cr)	₹ 88	₹ 128	₹ 181

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
29 - Sep	₹ 258 - 272	₹ 55	₹ 3,960
28 - Sep	₹ 258 - 272	₹ 90	₹ 4,950
27 - Sep	₹ 258 - 272	₹ 90	₹ 4,950
26 - Sep	₹ 258 - 272	₹ 90	₹ 4,950
25 - Sep	₹ 258 - 272	₹ 112	₹ 6,160

Pros

Market Leader: Holds a dominant 22% share in India’s networking cable market.
High Growth: Revenue CAGR of 23% significantly outpaces the industry average.
Customer Loyalty: Maintains 8-year average relationships with top tier-one telecom clients.
Integrated Production: In-house copper processing and PVC manufacturing ensure better cost control.
Diverse Portfolio: Strong presence in high-growth sectors like 5G and renewable energy.

Cons

Client Concentration: Over 74% of revenue comes from only ten major customers.
Raw Material Risk: Profits are highly sensitive to volatile copper and polymer prices.
Trademark Litigation: Faces ongoing legal disputes regarding the “Orient” brand name usage.
Supplier Reliance: Sources over 77% of raw materials from just ten suppliers.
High Debt: Significant debt-to-equity ratio of 1.36 requires IPO funds for repayment.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
VIPUL Family Trust	~35%
Garima Family Trust	~35%
Vipul Nagpal	~24.23%
Garima Nagpal	~5.6%
Vardaan Nagpal	~0.1%
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	55 Shares	1	55 Shares	₹ 14,190
Retail (Max)	55 Shares	13	715 Shares	₹ 1,84,470
HNI (Min)	55 Shares	14	770 Shares	₹ 1,98,660
HNI (Max)	55 Shares	66	3,630 Shares	₹ 9,36,540
Big HNI (Min)	55 Shares	67	3,685 Shares	₹ 9,50,730

Key Performance Index (KPI)

ROE	25.84%
ROCE	23.82%
RoNW	25.84%

Lead / Book Running Lead Managers

JM Financial Limited , IIFL Capital Services Limited

Registrar (RTA)

KFin Technologies Limited

Q1. What is the business of Orient Cables (India) Limited?
Orient Cables (India) Limited manufactures and exports an extensive range of specialized networking, optical fiber, and power cables.
Q2. Why is the company raising funds via IPO?
Orient Cable is raising funds via IPO to expand manufacturing capacity, repay existing debt, and support general corporate requirements.
Q3. What is the issue size of the IPO and where will it list?
The issue size of the IPO is ₹700 crore. It will bed listed on both BSE and NSE platform.
Q4. What are the risks to an investor?
Investors in Orient Cables (India) Limited face risks such as high client concentration, raw material price volatility, and ongoing brand name litigation.
Q5. What are the potential upsides?
Potential upsides to invest in the IPO include a dominant market position, surging average order values, robust international expansion, and improving EBITDA margins.
Q6. How to apply for the IPO?
Investors can apply through ASBA via net banking or using UPI through registered stock brokers.
Q 7. When is the tentative listing date?
The specific listing date is currently pending, but listing is expected in the first half of 2026.