Orient Cables IPO Analysis: Should You Apply? GMP, Review & Details

Orient Cables is a MAINBOARD IPO in the Cables - Electricals sector. The issue price band is ₹258.0–₹272.0 per share. Issue size is ₹552.0 crore. Current GMP is +31.62% over the issue price (unofficial, subject to change).

Orient Cables IPO — Key Details

Company Overview

Orient Cables is engaged in the manufacturing and supply of networking cables, passive networking components, and specialized cable solutions. The company operates in three main segments: Networking Cables and Connectivity Solutions, Specialty Power Cables, and Optical Fibre Cable Solutions. Its products serve various industries, including telecommunications, broadband infrastructure, data centres, renewable energy, smart buildings, security networks, system integration, fast-moving electrical goods, and automotive sectors. As of March 31, 2025, the company had an installed manufacturing capacity of approximately 794,976 kilometres of cables.

Financial Performance

Total income was ₹664.98 Cr in the period ending 31 Mar 2024, rising to ₹831.86 Cr by 31 Mar 2025, then increasing further to ₹1,181.67 Cr by 31 Mar 2026. However, the latest figure of ₹490.94 Cr for the period ending 30 Jun 2026 is a 9-month figure and not directly comparable to the full-year figures. Profit After Tax was ₹40.07 Cr in the period ending 31 Mar 2024, increasing to ₹53.32 Cr by 31 Mar 2025, and then to ₹53.56 Cr by 31 Mar 2026. The latest figure of ₹32.78 Cr for the period ending 30 Jun 2026 is also a 9-month figure and not directly comparable to the full-year figures.

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: 1. Funding of capital expenditure requirements towards the purchase of machinery, equipment, and civil works at manufacturing facilities (₹91.50 Cr). 2. Repayment or prepayment of certain outstanding borrowings (₹155.50 Cr). 3. General corporate purposes.

Strengths & Weaknesses

Strengths

Orient Cables has an established presence in the specialty cable solutions market, a broad and diversified product portfolio, long-term relationships with reputed customers, strategically located manufacturing facilities, and a strong leadership team.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) indicates the premium at which an IPO is expected to list compared to its issue price. A positive GMP suggests that investors are willing to pay more than the issue price, indicating strong demand.

Subscription Status

As of 25th September 2026, the IPO was subscribed 2.07 times overall. The subscription details by category show that the Non-Institutional Investors (NII) segment had a subscription of 3.67 times, while Retail Investors (RII) subscribed 2.56 times. The Qualified Institutional Buyers (QIB) segment had a much lower subscription of just 0.01 times.

Peer Comparison

• Sterlite Technologies Limited: P/E 708.38
• Birla Cable Limited: P/E 63.54
• Paramount Communications Limited: P/E 33.47
• KEI Industries Limited: P/E 48.99
• Havells India Limited: P/E 42.69
• Finolex Cables Limited: P/E 26.29
• Polycab India Limited: P/E 46.69
• RR Kabel Limited: P/E 54.85

IPO Timeline

The IPO opens for subscription on 25th September 2026 and closes on 29th September 2026. Allotment of shares is expected on 30th September 2026, with the listing date set for 5th October 2026.

Should You Apply for Orient Cables IPO?

Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their risk appetite and investment goals. Consider the company's growth potential and market conditions before making a decision.

Investors with a low risk tolerance or those looking for guaranteed returns may want to avoid IPOs, as they can be subject to market fluctuations and uncertainties.

This is general risk-profile education, not a personal recommendation to apply or avoid this specific IPO — TopFund is not a SEBI-registered investment adviser.

Listing Day Risks

Listing gains refer to the potential profit an investor can make if the stock price rises on the first day of trading. However, these gains are not guaranteed, and investors should be aware of the risks involved, including market volatility and the possibility of losses.

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Disclaimer: This is educational content, not investment advice. GMP is an unofficial grey-market indicator, unregulated and never guaranteed. TopFund is not a SEBI-registered investment adviser — please do your own research or consult a qualified adviser before applying to any IPO.