The Orient Cables IPO has attracted significant investor interest, being subscribed 16.43 times by the third day of bidding on September 29, 2026. This strong subscription reflects confidence in the company's business and growth prospects.
- The IPO is valued at ₹552 crore, including a fresh equity issue and an offer-for-sale.
- Subscription rates vary by investor category, with non-institutional investors showing the highest demand.
- Proceeds from the fresh issue will support capital expenditure and debt repayment.
- Allotment is expected on September 30, with the stock market debut scheduled for October 5.
What is the structure of the Orient Cables IPO?
The IPO comprises a fresh issue of equity shares worth up to ₹320 crore and an offer-for-sale (OFS) aggregating up to ₹232 crore. The total issue size is ₹552 crore. The fresh issue will help the company raise funds for expansion and other corporate purposes, while the OFS allows existing shareholders to sell their shares.
How has the IPO subscription progressed so far?
By midday on September 29, the IPO had received bids for 24,60,69,175 shares against 1,49,76,743 shares on offer. This means the IPO was subscribed 16.43 times overall. Breaking down by investor category, non-institutional investors subscribed 38.89 times, retail investors 16.06 times, and qualified institutional buyers (QIBs) 23%.
What is the price band and lot size for the IPO?
The price band for the IPO is set between ₹258 and ₹272 per share. Each lot consists of 55 shares. This pricing allows investors to participate according to their capacity and interest.
What does Orient Cables do?
Orient Cables Ltd specializes in manufacturing networking cables and passive networking equipment. Their products serve various industries, including telecom, broadband, renewable energy, data centers, and smart building automation. The company’s focus on these sectors positions it well for future growth as demand for networking infrastructure increases.
How will the company use the funds raised from the IPO?
The proceeds from the fresh equity issue will be used for capital expenditure, including purchasing machinery, equipment, and civil works at manufacturing units. Additionally, some funds will be allocated to repay borrowings and for general corporate purposes. These investments aim to enhance production capacity and strengthen the company’s financial position.
When will the IPO allotment and listing occur?
The allotment of shares is expected to be finalized on Wednesday, September 30, 2026. Following this, Orient Cables will make its stock market debut on October 5, 2026. Investors who receive allotment will be able to trade the shares from this date onward.
Frequently Asked Questions
Q: What does 'offer-for-sale' mean in this IPO?
A: Offer-for-sale refers to existing shareholders selling their shares to the public. In this IPO, shares worth up to ₹232 crore are being sold through OFS.
Q: What are qualified institutional buyers (QIBs)?
A: QIBs are institutional investors such as mutual funds, banks, and insurance companies who invest large amounts in IPOs. In this IPO, QIBs subscribed 23% of their quota.
Q: How can retail investors participate in the IPO?
A: Retail investors can apply for shares within the price band through their brokers or online trading platforms. The retail portion was subscribed 16.06 times, indicating strong interest.
