In Progress
Valuation
Market Cap
₹3,095.35 Cr
P/E Ratio
51.61x
P/B Ratio
11.77x
Orient Cables IPO Dates
Open
Close
Allotment
Refunds
Credit
Listing
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Business Overview
Orient Cables (India) Limited is a manufacturing company focused on networking cables and passive networking equipment, serving high-growth industries including broadband, telecom, data centres, renewable energy, smart building automation and security, system integration, FMEG and automotive. Operating for nearly two decades, the Company manufactures products across four broad segments: Networking Cables and Solutions, including CAT5 to CAT6A cables, patch cords, and CCTV and coaxial cables; Specialty Power and Optical Fibre Cables and Solutions; Wire and Cable Harness Assemblies and EV Charging Guns Cable Assembly; and Other Allied Products such as keystone jacks and power cords. The Company operates manufacturing facilities in Bhiwadi, Rajasthan and Bengaluru.
Lots & IPO Size
Orient Cables IPO Lot Size
| Category | 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 |
Category Reservation
QIB 50%
NII 15%
Ret 35%
Market Maker
₹0.00
Employee
₹0.00
Shareholder
₹0.00
Orient Cables IPO Size
Total
₹552 Cr
Fresh Issue
₹320 Cr
(1.18 Cr
Shares)
Offer For Sale
₹232 Cr
(0.85 Cr
Shares)
Promoters₹232 Cr
Objects of the Issue
Funding of capital expenditure requirements towards purchase of machinery, equipment and civil works at the Company's Manufacturing Facilities
Repayment or prepayment of certain outstanding borrowings availed by the Company
General Corporate Purposes & Issue expenses
Total
Key Risk Factors
The Company's 'ORIENT CABLES' brand faces trademark disputes with Orient Electric Limited, including a rectification application, cross-suits for permanent injunction and damages, and pending appeals before the Delhi High Court, with the next hearing in December 2026. Adverse publicity or an unfavourable outcome could affect brand recognition and customer relationships.
Key Risk Factors
The Company's 'ORIENT CABLES' brand faces trademark disputes with Orient Electric Limited, including a rectification application, cross-suits for permanent injunction and damages, and pending appeals before the Delhi High Court, with the next hearing in December 2026. Adverse publicity or an unfavourable outcome could affect brand recognition and customer relationships.
The Company's primary raw materials are copper and PVC compounds/masterbatch, procured mainly through purchase orders rather than long-term contracts. Absence of formal exclusive supplier relationships exposes the Company to price volatility and potential loss of supply arrangements to competitors.
The Company derives a majority of its revenue from a limited set of customers, with its largest customer contributing 25.75% and its top 10 customers contributing 76.52% of revenue from operations in Fiscal 2026. Loss of, or unfavourable terms with, key customers could adversely affect revenue and profitability.
The Company's products carry inherent risk of defects and liability claims for personal injury or property damage. Failure to meet regulatory or quality standards could require product replacement, recall or redesign and disrupt the ability to meet customer demand.
The Company's manufacturing operations are geographically concentrated, with two operational facilities at Bhiwadi, Rajasthan and one at Bengaluru. Disruptions from local or regional factors such as natural disasters, weather, or infrastructure issues could significantly affect production and financial condition.
The Company's manufacturing facilities operated at utilisation levels ranging from about 5.83% to 81.40% across product lines and units in Fiscal 2026. Prolonged underutilisation of installed capacity could adversely affect business growth, cost efficiency and future financial performance.
The Company has not availed any credit rating since Fiscal 2025, with its last available ratings being CRISIL B/Stable (Issuer not cooperating). Absence of a current credit rating may adversely affect the Company's ability to avail debt and could impact the trading price of the Equity Shares.
The Company's Statutory Auditors have included certain emphasis of matter and/or observations under the Companies (Auditor's Report) Order, 2020 in their reports for the financial statements of Fiscals 2026, 2025 and 2024.
A member of the Promoter Group, Radhika Julka (sister of Promoter Vipul Nagpal), has been disclosed as a wilful defaulter on the Watchout Investors website in relation to loan defaults of approximately ₹50.31 million by Julka Sons, though the loan has reportedly been repaid and a no-objection certificate from the lender bank is awaited.
The Company has experienced negative cash flows from operating activities in the three months ended June 30, 2026, Fiscal 2026 and Fiscal 2025, of ₹(117.64) million, ₹(266.44) million and ₹(97.85) million respectively. Sustained negative operating cash flows could adversely impact cash flow requirements and growth plans.
Orient Cables IPO Live Subscription
Live
Updated as on 25-Sep-2026 17:00:00
| Category | Sub (x) | Offered | Bids | Amount(Cr) |
|---|---|---|---|---|
| QIB | 0.01 | 40,58,824 | 58,740 | 1.60 |
| NII | 3.66 | 30,44,117 | 1,11,48,940 | 303.25 |
| bHNI | 2.69 | 20,29,411 | 54,64,745 | 148.64 |
| sHNI | 5.60 | 10,14,706 | 56,84,195 | 154.61 |
| Retail | 2.55 | 71,02,940 | 1,81,25,360 | 493.01 |
| Total | 2.06 | 1,42,05,881 | 2,93,33,040 | 797.86 |
Data is sourced from NSE & BSE and may change. Information is provided on an “AS IS” and “AS AVAILABLE” basis without warranties.
Updated as on 25-Sep-2026 17:00:00
Orient Cables IPO Details Live GMP
GMP
₹95
Est. Price
₹367
Est. Gain
34.93%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 25 Sep | ₹95 (34.9%) | ₹367 |
| 24 Sep | ₹112 (41.2%) | ₹384 |
| 23 Sep | ₹45 (16.5%) | ₹317 |
| 22 Sep | ₹35 (12.9%) | ₹307 |
Orient Cables IPO Peer Comparison
(Rs. in crores)
| Particulars | Orient Cables | RR Kabel | Polycab India | Finolex Cables | Havells India | KEI Industries |
|---|---|---|---|---|---|---|
| Revenue | 1,171.65 | 9,722.36 | 28,883.79 | 6,321.01 | 22,527.77 | 11,747.77 |
| PAT | 53.81 | 492.22 | 2,708.43 | 713.72 | 1,689.25 | 918.43 |
| EPS (₹) | 5.27 | 43.53 | 177.53 | 46.67 | 26.95 | 96.09 |
| NAV (₹) | 23.11 | 227.61 | 805.50 | 397.93 | 150.95 | 697.17 |
| RONW | 25.84% | 20.83% | 24.58% | 12.33% | 18.97% | 14.75% |
| EBITDA | 8.23% | 7.90% | 13.87% | 9.80% | 11.81% | |
| PAT Mrgn | 4.55% | 5.10% | 9.40% | 7.50% | 11.30% | 7.82% |
| PE Ratio | 51.61 | 54.85 | 46.69 | 26.29 | 42.69 | 48.99 |
All information pertains to FY 2025-26.
The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of 7th September 2026 for Peers
Orient Cables IPO Financial Performance
(Rs. in crores)
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue | 489.16 | 1,171.65 | 824.96 | 657.77 |
| Profit | 33.22 | 53.81 | 53.32 | 40.07 |
| Total Equity | 268.76 | 235.84 | 180.70 | 127.54 |
| Borrowings | 258.46 | 234.19 | 113.45 | 36.73 |
| Assets | 743.19 | 580.79 | 427.19 | 293.22 |
| NAV (₹) | 26.34 | 23.11 | - | - |
| EPS (₹) | 3.26 | 5.27 | 5.23 | 3.93 |
Key Performance Indicators (KPIs)
Net Debt to Equity
0.94
- All the data pertains to FY 2025-26.
- PE, PB, and market capitalization are calculated based on the Upper Price Band
Financial Margin Trends
Orient Cables IPO Financial Statements
(Rs. in crores)
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue from Ops | 489.16 | 1,171.65 | 824.96 | 657.77 |
| Other Income | 1.78 | 10.02 | 6.91 | 7.21 |
| Total Income | 490.94 | 1,181.67 | 831.86 | 664.98 |
| Materials consumed | 402.21 | 958.32 | 655.90 | 524.43 |
| Changes in Inventories | -8.42 | -16.85 | -11.36 | -8.51 |
| Employee Expense | 17.43 | 59.48 | 42.93 | 30.86 |
| Finance Costs | 7.67 | 19.10 | 12.50 | 5.57 |
| Depreciation | 4.50 | 14.72 | 6.56 | 6.11 |
| Other Expenses | 23.05 | 74.31 | 53.62 | 52.17 |
| Total Expenses | 446.44 | 1,109.07 | 760.15 | 610.62 |
| Profit Before Tax | 44.50 | 72.60 | 71.71 | 54.36 |
| Tax Expense | 11.72 | 19.04 | 18.39 | 14.29 |
| Profit After Tax | 32.78 | 53.56 | 53.32 | 40.07 |
| EPS — Basic (₹) | 3.26 | 5.27 | 5.23 | 3.93 |
| EPS — Diluted (₹) | 3.26 | 5.27 | 5.23 | 3.93 |
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Equity Share Capital | 10.20 | 10.20 | 10.20 | 1.02 |
| Other Equity | 258.56 | 225.63 | 170.50 | 126.52 |
| Total Equity | 268.76 | 235.84 | 180.70 | 127.54 |
| Total Borrowings | 258.46 | 234.19 | 113.45 | 36.73 |
| Trade Payables | 179.55 | 95.40 | 120.09 | 116.82 |
| Other Liabilities | 36.42 | 15.35 | 12.95 | 12.13 |
| Total Equity & Liab | 743.19 | 580.79 | 427.19 | 293.22 |
| Fixed Assets | 198.30 | 192.78 | 133.66 | 79.76 |
| Inventories | 169.31 | 112.58 | 72.75 | 40.35 |
| Trade Receivables | 293.90 | 218.12 | 162.17 | 136.41 |
| Cash & Bank Bal | 7.76 | 13.26 | 1.54 | 15.01 |
| Other Assets | 73.91 | 44.05 | 57.07 | 21.68 |
| Total Assets | 743.19 | 580.79 | 427.19 | 293.22 |
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Cash Flow from Operating Activities | -11.76 | -26.64 | -9.79 | 42.18 |
| Cash Flow from Investing Activities | -9.71 | -63.58 | -59.82 | -32.69 |
| Cash Flow from Financing Activities | 15.97 | 101.66 | 63.11 | -6.10 |
| Net Change in Cash & Equivalents | -5.51 | 11.44 | -6.50 | 3.39 |
| Cash & Equivalents at End of Period | 7.40 | 12.89 | 1.45 | 7.95 |
Contingent Liabilities
| Particulars | Amount (₹ Cr) |
|---|---|
| Guarantees issued by Banks | 2.47 |
| Letter of credit given by the bank on behalf of the Group | 100.95 |
| Total | 103.43 |
Promoter Holding
Promoter
100.00%
Public
0.00%
Vipul Family Trust
35.00%
Garima Family Trust
35.00%
Vipul Nagpal
24.23%
Others
5.77%
Management
Vipul Nagpal
Age: 54
Chairman & MD
Remuneration
₹₹1.50 Cr p.a. + perquisites as per Company policy
Education
B.Com (Hons), Shri Ram College of Commerce, Delhi University; MBA, University of Illinois at Urbana-Champaign
Prior Experience
Over 20 years in wires & cables; associated with the Company since incorporation; leads strategic decisions, business acquisition and product innovation
Garima Nagpal
Age: 48
WTD
Remuneration
₹₹0.60 Cr p.a. + perquisites as per Company policy
Education
B.A., University of Delhi
Prior Experience
Over 20 years in wires & cables; associated with the Company since incorporation; oversees people and talent development
Vardaan Nagpal
Age: 24
WTD
Remuneration
₹₹0.40 Cr p.a. + perquisites as per Company policy
Education
B.A. (Digital Culture), King's College London
Prior Experience
Over 6 years in wires & cables; leads strategic initiatives, special projects and inorganic growth (M&A, JVs) and new product verticals
Rahul Sharma
CFO
Remuneration
₹₹0.31 Cr (FY2026 actual paid compensation)
Education
B.Com, University of Delhi; M.Com (Finance & Taxation), IGNOU; ACA (ICAI); CFA (all 3 levels)
Prior Experience
Over 14 years in finance; previously with Tata Chemicals, Jubilant FoodWorks, Johnson Matthey India and SIG Combibloc India
Registrar & Lead Managers
Registrar
KFin Technologies
Lead Managers (2)
Company Details
Name: Orient Cables (India) Limited
Address: House No. 8 BLK-D, Second Floor, Ashok Vihar PH-1, New Delhi, Delhi – 110 052, India
Number: +91 14932 94094c
Email: compliance@orientcables.in
Website: https://orientcables.in
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Frequently Asked Questions (FAQs)
What is Orient Cables IPO?
Orient Cables IPO is a Mainboard IPO having an issue size of
₹552 Crs.
Orient Cables IPO is priced at
₹258 - ₹272 per
share.
The
issue opens on 25 Sep 26
and
closes on 29 Sep 26.
When will Orient Cables IPO open?
Orient Cables IPO opens on
25 Sep 26 and closes on
29 Sep 26.
What is the GMP of Orient Cables IPO?
The estimated Grey Market Premium of Orient Cables IPO is
₹95 per share (34.93%).
What is the lot size of Orient Cables IPO?
The minimum lot size of Orient Cables IPO is
55 shares & the minimum application amount
is
Rs.
14960.
When is the allotment of Orient Cables IPO?
The allotment date of Orient Cables IPO is
30 Sep 26.
What is the listing date of Orient Cables IPO?
The listing date of Orient Cables IPO is
05 Oct 26.
What is the subscription of Orient Cables IPO?
Orient Cables IPO is subscribed
1.96
times.
What is the price band of Orient Cables IPO?
Orient Cables IPO is priced at
₹258 - ₹272 per
share.
How to check allotment status of Orient Cables IPO?
Click the allotment link on Orient Cables IPO page of IPO360.
How to apply Orient Cables IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Orient Cables IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Orient Cables IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Orient Cables IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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