About Orient Cables (India) IPO
Orient Cables Ltd. filed its DRHP on July 10, 2025, with SEBI for its IPO, i.e., the Orient Cables IPO, which is a 100% book-built issue. The total size of the IPO is an amount of ₹700 crore, comprising a fresh share issue of ₹320 crore and an Offer for Sale (OFS) of ₹380 crore from existing promoters.
The price band and specific open and close dates for the Orient Cables IPO will be decided later. The shares are proposed to be listed on both the BSE and the NSE platforms. The Book Running Lead Managers (BRLMs) are IIFL Capital Services Ltd. and JM Financial Ltd., while KFin Technologies Ltd. is the registrar for the issue.
Company Background
Orient Cables Ltd. was incorporated as "Orient Cables Private Ltd." on September 15, 2005, located in New Delhi and the corporate office is in Gurugram, Haryana. The company's name was amended to Orient Cables Private Ltd. in 2007 and eventually to Public Ltd. in December 2024. From its inception, the business was focused on a niche area called cable manufacturing and was later identified as a major player in the connectivity business.
Operations and Product Range
Orient Cables Ltd. primarily focuses on the manufacturing and sale of diverse cables with related products. The core operation of the company is to provide high-quality connectivity for data and power transmission. Key product categories of Orient Cables Ltd. include:
- • Networking cables and solutions
- • Specialty Power Cables
- • Optical Fiber Cables OFC
Such products cater to a wide spectrum of end markets within the telecommunication industry, industrial infrastructures, and data centers.
Facilities and Capacity
Orient Cables Ltd. has production units with the ability to fulfill the specialized needs of various industries. Also, as of March 31, 2025, the company has shown a highly efficient level of operation, as it has the minimum net working capital days in the peer group. Also, the company established a new subsidiary, OCL Greentech Private Ltd., in May 2025, which intends to use the resources for the production of specialized equipment, including EV charging gun assembly, cable harness, etc.
Brands and Market Presence
Orient Cables Ltd. is positioned with the tagline "Powering Reliable Connections." It has an extensive domestic market presence, along with an active marine export-import insurance policy in place. It boasts of achieving a CAGR of about 23.18% in revenues between FY23 and FY25, putting it among the fastest-growing peers in its sector.
Revenue Streams and Business Model
The major revenue generator for Orient Cables Ltd. is through the sale of manufactured cables. For Fiscal 2025, Networking Cables and Solutions generated a revenue of ₹725.06 crores, and specialty power, along with optical fiber cables, generated a revenue of ₹98.09 crores. Additionally, revenue is also generated through other allied products, which have started contributing since FY25.
Management and Shareholding
The promoters of Orient Cables Ltd. are Vipul Nagpal, Garima Nagpal and Vardaan Nagpal, along with the Vipul Family Trust and Garima Family Trust. Before the IPO, the promoters held a substantial majority of equity shares in the company. However, after the Orient Cables IPO issue, shareholders will end up surrendering a part of their shares in company stocks or exit from Orient Cables Ltd.
Board and Key Management
Orient Cables Ltd. is managed by a competent team of executives, a group of dedicated professionals with a mantra of excellence in the wires and cable industry. They are led by the Managing Director and Chairman, Mr. Vipul Nagpal, with guidance from Whole-Time Director Garima Nagpal. Finance and accounts are looked after by Mr. Rakesh Khurmi, CFO. Mona Kaushik is the CS.
Orient Cables (India) IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹ 1 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to ₹ 7,000.00 million |
| Fresh Issue(Ex Market Maker) | Up to ₹ 3,200.00 million |
| Offer for Sale | Up to ₹ 3,800.00 million |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 10,20,35,000 Equity Shares |
Orient Cables (India) IPO Financial Information
Latest Revenue
829.74
₹ Crore
Profit After Tax
45.02
₹ Crore
Net Worth
180.67
₹ Crore
Total Borrowing
113.45
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 427.19 | 829.74 | 45.02 | 180.67 | 170.47 | 113.45 | |||
| 31 Mar 2024 | 293.22 | 658.74 | 39.99 | 127.54 | 126.52 | 36.73 | |||
| 31 Mar 2023 | 236.58 | 544.71 | 28.78 | 87.56 | 86.54 | 37.30 | |||
| Amount in ₹ Crore | |||||||||
Orient Cables (India) Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 34.58% |
| ROCE | 36.46% |
| Debt/Equity | 0.63* |
| PAT Margin | 5.43% |
| EBITDA Margin | 10.11% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹5.22 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company intends to use the proceeds from the fresh issue of Orient Cables IPO for several key purposes, which are:
- • Funding capital expenditure requirements for the company
- • Repayment or prepayment of certain borrowings
- • General corporate purposes
Conclusion
Orient Cables IPO is an investment opportunity in the high-investment wires and cable segment. Being a company with high efficiency in the operations segment and a high growth rate in comparison with other industry players, the company is trying to formalize the present capital market. The company plans to invest in the high-demand segments, such as networking cables and optical fiber cables, with the manufacturing prowess that the company has acquired and entry into a new era as a publicly listed company.
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Competitive Strengths
Industry-Leading Growth registered revenue CAGR of 23.18% during the financial years 2023-2025, achieving vastly superior growth rates compared to the industry’s
It has the lowest level of operational efficiency regarding the years of Net Working Capital Days, which is 27 years in FY25.
Strong Financial Metrics had the highest Return on Equity and Return on Capital Employed as compared to other competitors during FY24 and FY25.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 12/12/2025 | - |
| 2 | Filed with SEBI/Exchange | 10/07/2025 | - |
Orient Cables (India) IPO Timeline
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |