Orient Cables IPO Listing: Shares Make A High-Voltage Debut, List 65% Higher

Shares of Orient Cables made a strong debut on the stock exchanges on Monday, October 5, with the stock listing more than 64 per cent above its IPO price of Rs 272.

On the National Stock Exchange (NSE), Orient Cables shares listed at Rs 450, gaining Rs 178, or 65.44 per cent, over the issue price. On the BSE, the stock debuted at Rs 448, up Rs 176, or 64.74 per cent.

The stock strengthened further after the pre-open session, with the final listing prices coming in significantly higher than the initial indication of Rs 407 on NSE and Rs 409 on BSE.

The listing also beat the grey market indication. The IPO's last recorded grey market premium (GMP) stood at Rs 121, which implied an estimated listing price of Rs 393 against the issue price of Rs 272. The actual NSE listing at Rs 450 was Rs 57 higher than the GMP-indicated price, while the BSE listing was Rs 55 higher.

At the IPO price, Orient Cables had a market capitalisation of Rs 3,095.35 crore. Following the listing, the company's market capitalisation rose to Rs 5,099.36 crore, adding around Rs 2,004 crore in market value.

The Rs 552 crore Orient Cables IPO was open for subscription from September 25 to September 29. The issue comprised a fresh issue of 11.76 million shares worth Rs 320 crore and an offer for sale of 8.53 million shares worth Rs 232 crore.

The issue was priced at Rs 272 per share, with a lot size of 55 shares. Retail investors were required to invest at least Rs 14,960.

Orient Cables IPO Subscription Details

The IPO received a strong response from investors and was subscribed 97.28 times overall. The qualified institutional buyers' (QIB) portion was subscribed 192.68 times, while the non-institutional investor (NII) category was subscribed 121.90 times. The retail portion was subscribed 32.21 times.

What Does Orient Cables Do

Orient Cables, incorporated in September 2005, manufactures networking cables and passive networking equipment. Its product portfolio includes CAT5, CAT5e, CAT6 and CAT6A networking cables, optical fibre cables, CCTV and coaxial cables, power cables and other networking products.

The company has also expanded into specialty cables, solar junction boxes, tethered drone systems, cable harnesses and electric vehicle charging cables.

As of June 30, 2026, Orient Cables had an installed capacity of 895,776 km. According to the 1Lattice report, as mentioned in its red herring prospectus, it was among the top four networking cable players in India, with an estimated 22.9 per cent market share in fiscal 2026.

Orient Cables Financials

The company’s total income rose 77.7 per cent to Rs 1,181.67 crore in fiscal 2026 from Rs 664.98 crore in fiscal 2024. However, profit after tax (PAT) increased at a slower pace, rising 33.7 per cent to Rs 53.56 crore from Rs 40.07 crore during the same period.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 63.9 per cent to Rs 96.40 crore in fiscal 2026 from Rs 58.82 crore three years earlier.

The company’s assets nearly doubled, rising 98.1 per cent to Rs 580.79 crore in fiscal 2026 from Rs 293.22 crore in fiscal 2024. Net worth also increased 84.9 per cent to Rs 235.84 crore from Rs 127.54 crore.

However, total borrowings jumped 537.6 per cent to Rs 234.19 crore in fiscal 2026 from Rs 36.73 crore in fiscal 2024. This is a much sharper increase than the growth in income and profit.

Reserves and surplus rose 77.3 per cent to Rs 224.34 crore from Rs 126.52 crore over the same period.

In the first quarter of fiscal 2027, Orient Cables reported total income of Rs 490.94 crore and PAT of Rs 32.78 crore. Ebitda stood at Rs 54.89 crore, while net worth rose to Rs 268.76 crore and total borrowings increased further to Rs 258.46 crore as of June 30, 2026.

Orient Cables IPO Objectives

Orient Cables plans to use Rs 155.50 crore to repay or prepay its outstanding borrowings. It will spend another Rs 91.50 crore on machinery, equipment and civil works at its manufacturing facilities.

The company has earmarked Rs 48.34 crore for general corporate purposes, while Rs 42.53 crore will cover issue expenses.