Orient Cables IPO Review: Price Band, Dates, Lot Size, Financials and RisksOrient Cables IPO Review: Price Band, Dates, Lot Size, Financials and Risks

The Orient Cables IPO opens on September 25 and closes on September 29, 2026. Orient Cables (India) Limited is a manufacturer of networking cables and passive networking equipment with nearly two decades of experience, catering to industries including broadband, telecommunications, data centres, renewable energy, smart building automation and security, system integration, FMEG and automotive. The company is raising ₹552 crore through a fresh issue of ₹320 crore and an offer for sale of ₹232 crore by promoters.

IPO Snapshot

Event	Date
IPO Opens	September 25, 2026
IPO Closes	September 29, 2026
Allotment Date	September 30, 2026
Refund	October 1, 2026
Shares Credited to Demat	October 1, 2026
Listing Date (BSE, NSE)	October 5, 2026

Price Band and Lot Size

Detail	Value
Price Band	₹258 to ₹272 per share
Face Value	₹1 per share
Lot Size	55 shares
Minimum Investment	₹14,190 to ₹14,960
Retail Maximum	13 lots, or 715 shares (₹1,94,480)
Fresh Issue	₹320 crore (1,17,64,705 shares)
Offer for Sale	₹232 crore (85,29,409 shares)
Total Issue Size	₹552 crore
Listing	BSE and NSE

Pre-issue shareholding stood at 10,20,35,000 shares, rising to 11,37,99,705 shares post-issue. Promoter shareholding will decline from 100% pre-issue to 82.17% post-issue due to dilution from the fresh issue and part-exit via the offer for sale.

What Does Orient Cables Actually Do

Orient Cables (India) Limited, incorporated in September 2005, 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 centres, 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.

According to the 1Lattice Report, the company was among the top four networking cable players in India, with a market share of approximately 22.9% in Fiscal 2026, compared with approximately 16% in Fiscal 2022. The company serves customers across telecom, broadband, data centres, renewable energy, e-mobility, FMEG, smart homes and offices, security and surveillance, railways, defence and aerospace.

As of June 30, 2026, the company had 613 permanent employees and 1,327 contractual employees.

The Money Numbers

Metric	FY24	FY25	FY26	3M Jun 2026
Total Assets (₹ Crore)	293.22	427.19	580.79	743.19
Total Income (₹ Crore)	664.98	831.86	1,181.67	490.94
Profit After Tax (₹ Crore)	40.07	53.32	53.56	32.78
Net Worth (₹ Crore)	127.54	180.70	235.84	268.76

All numbers are taken from the company’s official IPO document (RHP) and cross-checked with trusted sources.

Total income grew from ₹664.98 crore in FY24 to ₹1,181.67 crore in FY26, up 77.7% over two years. Profit after tax grew from ₹40.07 crore in FY24 to ₹53.56 crore in FY26, up 33.7%. Total assets increased from ₹293.22 crore to ₹743.19 crore (as of June 2026), while net worth more than doubled from ₹127.54 crore to ₹268.76 crore over the same period.

EBITDA stood at ₹96.40 crore in FY26, with EBITDA margin at 8.16%. Total borrowings stood at ₹258.46 crore as of June 2026, up significantly from ₹36.73 crore in FY24.

Return ratios were strong: ROE stood at 34.58% and ROCE at 36.46% in FY25, with RoNW at 34.58% and NAV of ₹17.71 per share. PAT margin was 6.41%, and debt-to-equity was 0.63 times in FY25.

Objects of the Issue

Purpose	Amount (₹ Crore)
Funding of capital expenditure requirements towards purchase of machinery, equipment and civil works at manufacturing facilities	91.50
Repayment or prepayment of certain outstanding borrowings availed by the Company	155.50
General Corporate Purposes	Balance amount
Total identified objects	247.00

Strengths

• Strong revenue growth, with total income increasing 77.7% from FY24 to FY26.
• Profitability growth, with PAT growing 33.7% from FY24 to FY26.
• Among the top four networking cable players in India with 22.9% market share in Fiscal 2026.
• Diversified product portfolio across networking cables, passive equipment, and specialty cables.
• Presence across diverse end-user industries including telecom, data centres, renewable energy, defence and aerospace.
• Long-standing customer relationships.
• Strategically located manufacturing facilities.
• Customized product development capabilities.
• Strong return ratios: ROE of 34.58%, ROCE of 36.46%, and RoNW of 34.58% in FY25.
• Healthy EBITDA margin of 8.16% in FY26.
• TÜV-certified EV charging cables.
• Installed capacity of 895,776 km as of June 30, 2026.

Risks

• Total borrowings increased significantly from ₹36.73 crore in FY24 to ₹258.46 crore as of June 2026, up 604%.
• Debt-to-equity ratio increased to 0.63 times in FY25 from 0.29 times in FY24.
• The company operates in the highly competitive cables and electricals sector with exposure to raw material price volatility (copper, aluminium, polymers) and competition from both organized and unorganized players.
• A significant portion of the fresh-issue proceeds (₹155.50 crore out of ₹320 crore) is earmarked for debt repayment, indicating high leverage.
• The company’s expansion depends on securing orders from telecom, broadband, data centre and other customers.
• The business is capital intensive, with total assets of ₹743.19 crore as of June 2026.
• Promoter shareholding will decline from 100% to 82.17% post-issue.
• The offer for sale component means a portion of proceeds will go to selling shareholders and not toward the company’s growth.
• High reliance on contractual manpower (1,327 contractual vs 613 permanent employees).

How to Apply

You can apply through Alice Blue by selecting your investor category, choosing the number of lots, and submitting your bid between September 25 and September 29.

If you do not want to track subscription numbers throughout the bidding window, Alice Blue’s IPO feature can apply on your behalf. Choose your category and lot size, confirm your UPI ID, and set a subscription trigger, such as below 1x, between 1x and 5x, or above 5x. The system tracks Orient Cables’ live subscription numbers and submits the application once the selected condition is met. You then receive a UPI payment request to approve. Funds are not deducted until shares are allotted.

Frequently Asked Questions