Orient Cables Targets 3,500 Cr. by FY30 with Rs. 552 Cr. IPO
Orient Cables (India) Limited has launched its Rs. 552 crore Initial Public Offering (IPO), which opened on 25th September and will remain open till 29th September 2025.
About Orient Cables’ and FY26 Financial Numbers
Orient Cables has four manufacturing plants in India. Three of these facilities are in Bhiwadi, Rajasthan, while the fourth is in Bengaluru, Karnataka. The company manufactures various products at this plant, including Ethernet cables, optical fibre cables, LT power cables, control cables and solar DC cables.
The company’s turnover for FY26 was INR 1,171.65 Cr. as compared to INR 824.96 Cr. in FY25, translating into a growth of 42% YoY. Orient Cables’ PAT for FY26 was reported as INR 53.81 Cr. as compared to INR 53.29 Cr. for FY25, showing a reduction in profitability from 6.41% to 4.55%.
Orient Cables Targets a Revenue of 3,500 Cr. by FY30
Of the 552 Cr required to be raised through the IPO, fresh issue of shares will be 320 Cr, and this money will be utilised by the company. There is an Offer for Sale (OFS) of Rs. 232 crore by the promoters
Orient Cables will use INR 91.50 Cr. for capital expenditure at its manufacturing facilities, which includes purchase of machinery, other equipment and civil works. The company’s installed annual capacity is is 8,95,776 km as on 30th June 2026, and this will be expanded by 3,59,520 km per annum. This translates into a 40% expected increase in manufacturing capacity.
The company will use INR 155.50 Cr. for repayment or prepayment of certain borrowings. This will bring down Orient Cables’ borrowings from INR 240 crore to under 100 crore, greatly lowering interest expenses and freeing up operational cash flows to fuel the next phase of growth. Orient Cables is targeting a revenue of ₹3,500 crore by FY30. While doing so the company plans to strategically pivot toward certain high-margin segments such as E-Beam irradiated specialty cables.
The remaining amount of 73 crore will be allocated towards general corporate purposes.
Orient Cables IPO Size Revised from 700 Cr. to 552 Cr.
The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in July 2025. Initially, Orient Cables had proposed raising Rs. 700 crore through the IPO, comprising a fresh issue of Rs. 320 crore and an Offer for Sale (OFS) of Rs. 380 crore.
Under the revised IPO structure, the total issue size has been reduced by Rs. 148 crore to Rs. 552 crore. The reduction comes entirely from the offer for sale component, which now stands at Rs. 232 crore, while the fresh issue remains at Rs. 320 crore.
Details of Orient Cables’ IPO
Orient Cables’ IPO comprises a fresh issue of 1.18 crore shares aggregating to Rs. 320 crore and an offer for sale of 85.29 lakh shares worth Rs. 232 crore. The company has fixed the IPO price band at Rs. 258 to Rs. 272 per share. Each share has a face value of Rs. 1.
Lot size for this IPO has been defined as 55 shares, which translates to an investment of Rs. 14,960 at the upper end of the price band.
Out of the total shares offered in the IPO, Qualified Institutional Buyers (QIBs) have been offered 50% of the total issue. Non-Institutional Buyers (NIIs) are open to subscribing to 15% of the issue, whereas retail investors are allotted 35% of the total shares in this IPO.
The allotment for the Orient Cables IPO is expected to be finalized on 30th September 2026. Orient Cables will be listed on the National Stock Exchange on 5th October 2026.
