ORIENT CABLES (INDIA) LTD IPO: Company Review, Subscription and Allotment Updates
2026-09-25 — Company overview and issue details ORIENT CABLES (INDIA) LTD IPO (ABOUT THE COMPANY) ORIENT CABLES (INDIA) LTD – COMPANY BACKGROUND Orient Cables (India) Ltd is a leading manufacturer of networking cables and passive…
2026-09-25 — Company overview and issue details
ORIENT CABLES (INDIA) LTD IPO (ABOUT THE COMPANY)
ORIENT CABLES (INDIA) LTD – COMPANY BACKGROUND
Orient Cables (India) Ltd is a leading manufacturer of networking cables and passive networking equipment. It has been in existence for more than 20 years. Its user industries include broadband, telecom, data centres, renewable energy, security systems, system integration, FMEG, automotive etc. It also makes customized products based on the unique requirements of the customers. The company has installed capacity of 8.96 lakh KM, and has also diversified into newer sources of cable demand. It is ranked among the top four networking cable companies in India and enjoys a market share of close to 23% in the Indian market.
The promoters of Orient Cables (India) Ltd are Vipul Nagpal, Garima Nagpal, Vardaan Nagpal, Vipul Family Trust, and Garima Family Trust, . The IPO will be a combination of a fresh issue and an offer for sale (OFS). The fresh issue proceeds will be used for funding capex towards purchase of machinery and equipment for manufacturing facilities, repayment of loans, and for general corporate purposes. The OFS is entirely by the promoter shareholders. The issue is being lead-managed by IIFL Capital Services and JM Financial; while KFIN Technologies Ltd (KFINTECH) is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF ORIENT CABLES (INDIA) LTD
Here are the key highlights of the public issue of Orient Cables (India) Ltd.
The IPO is open from September 25th, 2026 to September 29th, 2026. It has a face value of ₹1 per share and the IPO price band has been fixed in the range of ₹258 to ₹272 per share.
The IPO of Orient Cables (India) Ltd will be a combination of a fresh issue of shares and an offer for sale (OFS) by the promoter shareholders.
The Fresh Issue portion of the IPO comprises the issue of 1,17,64,705 shares (117.65 lakh shares), which at the upper price band of ₹272 per share, translates into a fresh issue size of ₹320.00 crore.
The offer for sale (OFS) portion of the IPO comprises the sale of 85,29,409 shares (85.29 lakh shares), which at the upper price band of ₹272 per share, translates into an OFS size of ₹232.00 crore.
Therefore, the overall IPO will comprise of the fresh issue and the offer for sale of 2,02,94,114 shares (202.94 lakh shares), which at the upper price band of ₹272 per share translates into an overall issue size of ₹552.00 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 100.00% pre-IPO to 82.17% post-IPO.
The IPO of Orient Cables (India) Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on September 24, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Orient Cables (India) Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Friday, 25 September, 2026 |
| IPO Close Date | Tuesday, 29 September, 2026 |
| Basis of Allotment | Wednesday, 30 September, 2026 |
| Initiation of Refunds to non-allottees | Thursday, 1 October, 2026 |
| Credit of Shares to Demat | Thursday, 1 October, 2026 |
| Listing Date on NSE and BSE | Monday, 5 October, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 60,88,233 shares | 28.90% of total IPO size |
| QIB Shares Offered | 42,79,069 shares | 20.31% of total IPO size |
| NII (HNI) Shares Offered | 32,09,302 shares | 15.24% of total IPO size |
| Retail Shares Offered | 74,88,372 shares | 35.55% of total IPO size |
| Total Shares Offered | 2,10,64,976 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Orient Cables (India) Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹ 14,960 |
| Retail (Max) | 13 | 715 | ₹ 1,94,480 |
| S-HNI (Min) | 14 | 770 | ₹ 2,09,440 |
| S-HNI (Max) | 66 | 3,630 | ₹ 9,87,360 |
| B-HNI (Min) | 67 | 3,685 | ₹ 10,02,320 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 55 shares)
FINANCIAL HIGHLIGHTS OF ORIENT CABLES (INDIA) LTD
The table captures the key financials of Orient Cables (India) Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 1,171.65 | 824.96 | 657.77 |
| Sales Growth (%) | 42.03% | 25.42% | |
| Profit after Tax (₹ in crore) | 53.56 | 53.32 | 40.07 |
| PAT Margins (%) | 4.57% | 6.46% | 6.09% |
| Total Equity (₹ in crore) | 236.07 | 180.70 | 127.54 |
| Total Assets (₹ in crore) | 580.79 | 427.19 | 293.22 |
| Return on Equity (%) | 22.69% | 29.51% | 31.42% |
| Return on Assets (%) | 9.22% | 12.48% | 13.67% |
| Asset Turnover Ratio (X) | 2.02 | 1.93 | 2.24 |
| Earnings per share (₹) | 5.27 | 5.23 | 3.93 |
| EBITDA (₹ in Crore) | 96.40 | 83.86 | 58.82 |
| EBITDA Margins (%) | 8.23% | 10.17% | 8.94% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
Between FY24 and FY26, the net margins have tapered from 6.09% to 4.57%, while the EBITDA margins have also tapered from 8.94% to 8.23%. This can be attributed to cost pressures faced by the cable industry due to supply chain constraints. The ROE and the ROA have also shown a steadily declining trend as the profits of the company have not matched up to the expansion of the equity and the asset base. This is largely due to a spike in costs.
VALUATION METRICS OF ORIENT CABLES (INDIA) LTD IPO
At the IPO price of ₹272 (upper band), the stock gets discounted at a P/E ratio of 51.6X, based on the latest FY26 EPS of ₹5.27. This would only look more expensive on a post-IPO basis. The valuations are also higher than the peer group, which makes it tough to justify the premium amidst falling ROE over the last 3 years.
Apart from the financial numbers, there are some other areas where Orient Cables (India) Ltd has an edge. It has a strong position and established client linkages for its business. However, the concerns are more on the falling margins amid cost pressures. That is what makes sustaining higher valuations tough. Investors have to be cautious about that.
2026-09-25 — Anchor allocation
ORIENT CABLES (INDIA) LTD IPO (ANCHOR ALLOCATION 28.90%)
BRIEF ON ANCHOR ALLOCATION OF ORIENT CABLES (INDIA) LTD
The anchor issue of Orient Cables (India) Ltd saw a strong response on 24th September 2026 with 28.90% of the IPO size absorbed by anchors. Out of 2,10,64,976 shares (210.65 lakh shares) on offer in the IPO; anchors picked up 60,88,233 shares (60.88 lakh shares) accounting for 28.90% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹272 per share. This includes the face value of ₹1 per share plus a share premium of ₹271 per share. The anchor bidding opened and closed on 24th September 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Orient Cables (India) Ltd
| Bid Date | September 15, 2026 |
|---|---|
| Shares Offered | 60,88,233 shares |
| Anchor Portion Size (₹ in crore) | ₹165.60 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 29, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Dec 28, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN ORIENT CABLES (INDIA) LTD
On 24th September 2026, Orient Cables (India) Ltd allotted 60,88,233 shares to a total of 20 anchor investors. The allocation was done at the upper IPO price band of ₹272 per share which resulted in overall anchor allocation of ₹165.60 crore. The anchors have already absorbed 28.90% of the total issue size of ₹572.97 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹113.47 crores, or, 68.52% of the overall anchor allocation of shares, one trading day ahead of the IPO of Orient Cables (India) Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Ashoka Whiteoak EM Equity Fund | 5,14,745 | 8.45% | ₹ 14.00 |
| 02 | Motilal Oswal Manufacturing Fund | 5,14,745 | 8.45% | ₹ 14.00 |
| 03 | Sundaram Small Cap Fund | 5,14,745 | 8.45% | ₹ 14.00 |
| 04 | 30-One Equity Opportunities Fund | 5,14,745 | 8.45% | ₹ 14.00 |
| 05 | ABSL Mid Cap Fund | 4,41,210 | 7.25% | ₹ 12.00 |
| 06 | Invesco India Manufacturing Fund | 3,67,675 | 6.04% | ₹ 10.00 |
| 07 | Edelweiss Business Cycle Fund | 3,67,620 | 6.04% | ₹ 10.00 |
| 08 | Goldman Sachs EM Equity Ex-China | 3,30,880 | 5.43% | ₹ 9.00 |
| 09 | Bandhan Business Cycle Fund | 3,30,880 | 5.43% | ₹ 9.00 |
| 10 | Nippon India Flexi Cap Fund | 2,74,505 | 4.51% | ₹ 7.47 |
| Grand Total | 41,71,750 | 68.52% | ₹ 113.47 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 60,88,233 shares allocated to the anchors in the IPO, there was an allocation of 41,17,960 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 14 MF schemes of 8 asset management company (AMC). Mutual funds accounted for 67.64% of the overall anchor allocation.
Out of the 60,88,233 shares allocated to the anchors in the IPO, there was an allocation of 4,26,038 shares made to 2 life insurance companies regulated by IRDAI. Life insurance companies accounted for 7.00% of the anchor allocation.
The remaining anchor allocation was spread across FPIs, ODIs, SIFs, and alternate investment funds (AIFs).
NEXT STEPS IN ORIENT CABLES (INDIA) LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE0J1N01028).
2026-09-29 — Day-3 subscription update
Orient Cables (India) Ltd (Day-3 Final Subscription at 92.27 times)
ORIENT CABLES (INDIA) LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.30 pm on 29th September 2026, out of the 149.77 lakh shares on offer in the IPO (excluding anchor portion), Orient Cables (India) Ltd saw bids for 13,818.99 lakh shares. This implies an overall subscription of 92.27X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Orient Cables (India) Ltd was as under:
| Employees (N.A.) | QIBs (182.76X) | HNI / NII (115.63X) | Retail (30.55X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company had seen steady anchor participation a day ahead of the IPO opening with 28.90% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 60,88,233 | 60,88,233 | 165.60 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 182.76 | 42,79,069 | 78,20,53,085 | 21,271.84 |
| HNIs / NIIs | 115.63 | 32,09,302 | 37,10,91,875 | 10,093.70 |
| Retail Investors | 30.55 | 74,88,372 | 22,87,53,745 | 6,222.10 |
| Total | 92.27 | 1,49,76,743 | 1,38,18,98,705 | 37,587.64 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Orient Cables (India) Ltd was open up to September 29, 2026, and has closed for subscription as of the close of trading hours on September 29, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹37,753.24 crore.
NEXT STEPS IN THE ORIENT CABLES (INDIA) LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE0J1N01028).
2026-09-30 — Allotment guidance and next steps
Orient Cables (India) Ltd (How to check allotment status online)
ABOUT THE ORIENT CABLES (INDIA) LTD IPO
The IPO of Orient Cables (India) Ltd opened on September 25th, 2026 and closed on September 29th, 2026. The IPO comprised of a fresh issue portion and an offer for sale (OFS) component of 2,10,64,976 shares (210.65 lakh shares) worth ₹572.97 crore at the upper band price of ₹272 per share. The allotment status will be finalized by EOD of September 30, 2026. Here is how to check allotment status for the IPO of Orient Cables (India) Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF ORIENT CABLES (INDIA) LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Orient Cables (India) Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Orient Cables (India) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ORIENT CABLES (INDIA) LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select ORIENTCABL from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Orient Cables (India) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ORIENT CABLES (INDIA) LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Orient Cables (India) Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE ORIENT CABLES (INDIA) LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE0J1N01028).
Interested in applying for this IPO?
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