Ahead of the issue opening, the company has mobilised ₹165.6 crore from 14 anchor investors.
Orient Cables on September 24 allotted 60.88 lakh shares to anchor investors at ₹272 apiece, the upper end of the IPO price band.
Of the total anchor allocation, 41.17 lakh shares were allotted to eight domestic mutual funds, including Nippon Life India, ICICI Prudential Asset Management Company, Aditya Birla Sun Life Asset Management Company, Motilal Oswal Asset Management Company, Invesco, Bandhan Mutual Fund, Sundaram Mutual Fund and Edelweiss.
Insurance companies including Aditya Birla Sun Life Insurance and Edelweiss Life Insurance picked up 4.26 lakh shares worth ₹11.58 crore. Other institutional investors, including Goldman Sachs, Ashoka WhiteOak, 360 ONE WAM and Border to Coast Pensions Partnership, also participated in the anchor book.
SBI Securities: Subscribe
SBI Securities has recommended subscribing to the Orient Cables IPO for the long term.
The brokerage said Orient Cables has a diversified product portfolio, established customer relationships and exposure to sectors including telecom, broadband, data centres and renewable energy.
The company reported revenue, EBITDA and profit after tax CAGRs of 33.5%, 28% and 15.9%, respectively, between FY24 and FY26. SBI Securities said the slower growth in profit after tax reflects margin pressure and higher finance costs.
The brokerage sees growth opportunities from the company’s expanding presence in optical fibre, E-beam irradiated cables, solar products and electric vehicle-related assemblies, along with planned capacity expansion, partnerships and debt repayment.
However, raw material price volatility, customer concentration and rising working capital requirements remain key concerns. SBI Securities also flagged the pending brand-related proceedings with Orient Electric as an area to monitor.
At the upper price band of ₹272, Orient Cables is valued at a post-issue FY26 price-to-earnings multiple of 57.5 times.
SBI Securities said the company’s diversified product portfolio, favourable industry trends, large addressable market and capacity expansion plans provide long-term growth visibility.
KC Securities: Subscribe for the long term
KC Securities has also recommended subscribing to the issue with a two to three-year investment horizon, while advising investors to monitor earnings growth, margins, working capital and leverage after listing.
At the upper price band of ₹272, KC Securities values the issue at around 51.6 times FY26 earnings.
The brokerage said the fresh issue of ₹320 crore includes ₹155.5 crore towards repayment or prepayment of borrowings and ₹91.5 crore towards capital expenditure. It expects the allocation towards debt reduction to strengthen the balance sheet, while the capital expenditure is expected to support capacity expansion.
Orient Cables IPO details
The company is looking to raise ₹552 crore through the IPO at a price band of ₹258 to ₹272 per share.
The issue comprises a fresh issue of equity shares worth ₹320 crore and an offer for sale of shares worth up to ₹232 crore by the promoter Nagpal family.
In the grey market, Orient Cables shares were commanding a 42% premium on Friday. However, the grey market premium is an unofficial indicator and can change before listing.
Of the net proceeds from the fresh issue, ₹91.5 crore will be used to purchase machinery and equipment and undertake civil works at manufacturing facilities. Another ₹155.5 crore will be used for repayment or prepayment of debt, with the remaining funds earmarked for general corporate purposes.
As of June 2026, the company’s total outstanding borrowings stood at ₹258.4 crore, including ₹240.4 crore of outstanding secured fund-based facilities.
Orient Cables manufactures networking cables, specialty power cables, optical fibre cables and wire and cable harness assemblies.
IIFL Capital Services and JM Financial are the merchant bankers managing the IPO.