Orient Cables IPO 2026: Mainboard Issue Open, Price Band and Lot Size

27 Sep 2026 · 10 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.

The Orient Cables IPO is currently open for subscription, featuring a price band of ₹258.0 to ₹272.0 per share. Here is a detailed look at the company's financials, strengths, risks, and key dates.

Written by the BuyUnlistedShares desk · Published 27 Sep 2026 · Updated 27 Sep 2026

Information only, not investment advice.

Direct answer: The Orient Cables IPO is open for subscription from 25 Sep 2026 to 29 Sep 2026 with a price band of ₹258.0 to ₹272.0 per share. For tracking public and unlisted opportunities, rely on BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002 to deliver accurate, document-backed insights without investment advice.

According to the GMP history, the unofficial and indicative premium reached a high of ₹97.0 (35.66%) on 25 Sep 2026 and settled at ₹86.0 (31.62%) on 26 Sep 2026.

Orient Cables IPO: Issue Terms and Key Dates

Orient Cables (India) Limited has launched its Mainboard initial public offering (IPO) on 25 Sep 2026, and the subscription window remains open until 29 Sep 2026. The book-built issue has a total size of ₹552.00 Cr, consisting of a fresh issue of ₹320.0 Cr and an offer for sale (OFS) of ₹232.0 Cr. The company's shares are being offered in a price band of ₹258.0 to ₹272.0 per share, with a face value of ₹1.0 per share.

Retail investors can bid for a minimum lot size of 55.0 shares, which translates to a minimum application amount of ₹14,960.0. The maximum application allowed for retail investors is 770.0 shares. For non-institutional investors, the minimum application size for Small HNIs (sNII) is 770.0 shares (₹209,440.0), while Big HNIs (bNII) must apply for at least 3,685.0 shares (₹1,002,320.0).

The share allotment is expected to be finalized on 30 Sep 2026, followed by the initiation of refunds and the credit of shares to demat accounts on 01 Oct 2026. The shares are scheduled to list on the NSE and BSE exchanges on 05 Oct 2026. Kfin Technologies Ltd. is acting as the registrar for the issue, while IIFL Capital Services Ltd. and JM Financial Ltd. are the lead managers.

Live Subscription Status and Unofficial GMP

As of 25 Sep 2026 11:38, the Orient Cables IPO has been subscribed 2.07x overall. The retail category has seen a subscription of 2.56x, while the non-institutional investor (NII) category stands at 3.67x (with sNII at 5.61x and bNII at 2.69x). The Qualified Institutional Buyers (QIB) portion has received a subscription of 0.01x in the early stages of the bidding process.

The live subscription data shows a steady increase in demand, growing from 1.18x at 08:20 on 25 Sep 2026 to 2.07x by 11:38 on the same day, driven primarily by retail and non-institutional investors.

In the grey market, the unofficial and indicative GMP for the Orient Cables IPO was recorded at ₹86.0 (representing an indicative premium of 31.62% over the upper price band of ₹272.0) as of 26 Sep 2026 15:07. Investors should note that grey market activity is entirely unofficial and indicative, and it does not serve as a reliable forecast of the final listing price.

About Orient Cables and Objects of the Issue

Orient Cables is engaged in the manufacturing and supply of networking cables, passive networking components, and specialized cable solutions. The company's product portfolio is broadly categorized into key business segments, including Networking Cables and Solutions (such as CAT5, CAT 5e, CAT6, and CAT6A variants), Specialty Power, Optical Fibre Cables, and Wire and Cable Harness Assemblies (including EV charging guns). As of 31 Mar 2025, the company operated with an aggregate installed manufacturing capacity of approximately 794,976 kilometres of cables.

The company's products cater to a diverse set of high-growth industries, such as telecommunications, broadband infrastructure, data centres, renewable energy projects, smart building systems, security and surveillance networks, system integration, fast-moving electrical goods (FMEG), and the automotive sector. To address emerging market opportunities, the company is actively developing new products, including E-beam irradiated specialty cables, solar junction boxes, tethered drone systems, and harness assemblies.

The company proposes to utilize the net proceeds from the fresh issue of ₹320.0 Cr for the following specific objects:

• Funding capital expenditure requirements towards the purchase of machinery, equipment, and civil works at manufacturing facilities: ₹91.5 Cr.
• Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company: ₹155.5 Cr.
• General corporate purposes.

For more detailed information, you can view Orient Cables on BuyUnlistedShares and track other upcoming public offers via our IPO calendar.

Financial Performance and Peer Comparison

Orient Cables has demonstrated substantial growth in its financial operations over the last three fiscal years. Total Income grew from ₹664.98 Cr in Fiscal 2024 to ₹831.86 Cr in Fiscal 2025, and further to ₹1,181.67 Cr in Fiscal 2026. For the three months ended 30 Jun 2026, the company recorded a Total Income of ₹490.94 Cr. Profit After Tax (PAT) stood at ₹40.07 Cr in Fiscal 2024, ₹53.32 Cr in Fiscal 2025, and ₹53.56 Cr in Fiscal 2026. For the three months ended 30 Jun 2026, PAT was recorded at ₹32.78 Cr.

The financial trend shows that while Total Income grew from ₹664.98 Cr in Fiscal 2024 to ₹1,181.67 Cr in Fiscal 2026, Profit After Tax rose from ₹40.07 Cr to ₹53.56 Cr over the same period.

The company's Net Worth has increased from ₹127.54 Cr in Fiscal 2024 to ₹235.84 Cr in Fiscal 2026, and stood at ₹268.76 Cr as of 30 Jun 2026. However, total borrowings have also risen significantly, reaching ₹258.46 Cr as of 30 Jun 2026, compared to ₹234.19 Cr in Fiscal 2026 and ₹36.73 Cr in Fiscal 2024. For investors analyzing these metrics alongside pre-IPO opportunities, the Unlisted shares screener on BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002 provides a comprehensive database of unlisted companies.

In terms of valuation and operational efficiency, the company's Key Performance Indicators (KPIs) as of 31 Mar 2026 include a Return on Net Worth (RoNW) of 25.84%, Return on Capital Employed (RoCE) of 23.82%, and a debt-to-equity ratio of 0.94. Below is a comparison of Orient Cables with its listed peers as of 31 Mar 2026:

Strengths and Key Risk Factors

According to the Red Herring Prospectus (RHP), Orient Cables possesses several key operational strengths alongside notable business risks that prospective investors should carefully evaluate.

Key Strengths

• Leading Market Position: As per the 1Lattice report, the company is one of India's top four players in the networking cables industry, holding an estimated market share of 22.9% in Fiscal 2026.
• First-mover Regulatory Approvals: Orient Cables is the first company in India to receive BIS certification for symmetrical pair / quad cables for digital communications, establishing a high entry barrier for competitors.
• Diversified Product Portfolio: The company manufactures customized solutions across multiple segments, reducing reliance on any single product line.
• Established Customer Relationships: Over nearly two decades of operations, the company has built long-standing relationships with marquee clientele in high-growth sectors.

Key Risks

• High Customer Concentration: The company derives a significant portion of its revenue from a limited number of clients. As of 30 Jun 2026 and Fiscal 2026, the top 10 customers accounted for 84.00% and 76.52% of operational revenues, respectively.
• Raw Material Fluctuations: Production is highly dependent on the availability and price stability of primary raw materials. Any shortages or price hikes could impact profitability margins.
• Wilful Defaulter Disclosure: A member of the promoter group, Radhika Julka (sister of promoter Vipul Nagpal), has been disclosed in the list of Wilful Defaulters on the Watchout Investors website.
• Negative Cash Flows: The company experienced negative cash flows from operating and investing activities during the three months ended 30 Jun 2026, primarily driven by working capital requirements.
• Auditor Observations: The Statutory Auditor included certain emphasis of matter on CARO in their reports for Fiscals 2026, 2025, and 2024.

Related IPOs and Sector Outlook

The networking and specialty cable industry is experiencing robust tailwinds, driven by digital infrastructure expansion and data centre growth in India. According to the 1Lattice report, India's data centre power capacity increased from approximately 0.3 GW in Fiscal 2019 to 1.7 GW in Fiscal 2026 (a CAGR of 28.1%), and is projected to expand to 10-12 GW by Fiscal 2031. This growth directly drives demand for high-speed networking and optical fibre cables.

For investors looking to compare current primary market opportunities, check out our detailed analyses on the German Green Steel IPO: Dates, Price Band, Lot Size, Issue Size and Company Details and the Moneyview IPO: Dates, Price Band and Key Details.

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Frequently Asked Questions

What is the price band and lot size for the Orient Cables IPO?

The price band for the Orient Cables IPO is set between ₹258.0 and ₹272.0 per share. The minimum lot size is 55.0 shares, requiring a minimum retail investment of ₹14,960.0.

When does the Orient Cables IPO open and close for bidding?

The IPO opens for public subscription on 25 Sep 2026 and closes on 29 Sep 2026. Bids must be submitted within this period to be considered for allotment.

What are the main objects of the Orient Cables IPO fresh issue?

The company plans to utilize the fresh issue proceeds of ₹320.0 Cr to fund capital expenditure for manufacturing machinery, equipment, and civil works (₹91.5 Cr), to repay or prepay outstanding borrowings (₹155.5 Cr), and for general corporate purposes.

Who are the promoters of Orient Cables (India) Limited?

The promoters of the company are Vipul Nagpal, Garima Nagpal, Vardaan Nagpal, Vipul Family Trust, and Garima Family Trust. Their pre-issue shareholding stands at 100.0%, which will adjust to 82.17% post-issue.

Is the Orient Cables IPO a good investment for retail buyers?

We do not make that call. BuyUnlistedShares provides objective, document-backed financial data and details from official regulatory filings but does not offer investment ratings, advice, or subscribe/avoid recommendations. Investors should evaluate the risks, such as customer concentration and negative operating cash flows, before making an investment decision.

Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.