Orient Cables to open Rs 552-crore IPO on September 25, listing likely on October 5

Fresh updates from the financial markets indicate that Gurugram-headquartered networking cables and passive networking equipment maker Orient Cables has decided to open its Rs 552-crore IPO for public subscription on September 25.

The initial public offering (IPO) comprises a fresh offering of equity shares worth Rs 320 crore, while promoters will sell shares worth Rs 232 crore through an offer-for-sale (OFS).

The firm will announce the price range details separately on September 22.

The anchor book will open for one day on September 24, while public bidding for the offer will stay open until September 29.

Orient Cables is anticipated to finalise the IPO share allotment by September 30 and is likely to make its market debut on October 5.

Half of the offer has been reserved for qualified institutional buyers, while 15 percent of the offer has been allocated to non-institutional market participants and the remaining 35 percent to retail market participants.

The firm filed draft red herring prospectus with SEBI in July 2025, which subsequently was cleared by the capital markets regulator in December 2025.

With two manufacturing facilities in Bhiwadi, Rajasthan, Orient Cables, promoted by the Delhi-based Nagpal family, provides networking cables, specialty power cables, optical fibre cables, and wire and cable harness assemblies. The firm has an installed cable capacity of 8.95 lakh km and caters to several industries, including broadband, telecom, data centres, renewable energy, smart building automation/security, FMEG and automotive.

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The firm will use Rs 91.5 crore of the proceeds from the fresh offering to purchase machinery and equipment and undertake civil works at its manufacturing facilities.

Further, Rs 155.5 crore will be used to repay debt, against total outstanding borrowings of Rs 258.4 crore. The remaining funds will be set aside for general corporate purposes.

On the financial front, the firm recorded a earnings of Rs 53.6 crore for the year ended March 2026, up 0.5 percent from Rs 53.3 crore in the previous year, partly impacted by subdued operating margins.

Topline grew 42 percent to Rs 1,171.6 crore from Rs 825 crore during the same period. EBITDA (earnings before interest, tax, depreciation and amortisation) rose 15 percent to Rs 96.4 crore from Rs 83.8 crore, while the EBITDA margin declined to 8.22 percent from 10.16 percent.

Earnings for the latest quarter ended June 2026 stood at Rs 32.7 crore, while topline stood at Rs 489.1 crore.

IIFL Capital Services and JM Financial are the merchant bankers managing the Orient Cables IPO.

This would be ninth firm opening IPO in current week alongside Varmora Granito, Elevate Campuses, ArMee Infotech, Adroit Industries, Swastika Infra, A-One Steels India, Moneyview, and Snapdeal parent Acevector.