Orient Cables (India) IPO opens today: Should you apply? Check price band, reviews, fresh GMP & more

The initial public offering of Orient Cables (India) is scheduled to open for subscription on Friday, September 25, with the issue closing on Tuesday, September 29. The networking cables and equipment maker has fixed a price band of Rs 258-272 per share, and investors can bid in lots of 55 shares and its multiples thereafter.

The Rs 552 crore IPO of Orient Cables (India) comprises a fresh issue of Rs 320 crore and an offer for sale of up to 85,29,409 equity shares worth Rs 232 crore. Based on the price band, the company is set to command a market capitalisation close to Rs 3,100 crore. The equity shares are proposed to be listed on the BSE and NSE on Monday, October 5.

New Delhi-based Orient Cables (India) is a manufacturer of networking cables and passive networking equipment. It has nearly two decades of experience in the networking cables and passive networking equipment industry and caters to sectors like broadband, telecommunications, data centres, renewable energy, smart building automation and security, system integration, FMEG and automotive.

Brokerages see long-term potential in Orient Cables, citing product diversification, market-share gains and exposure to data centres, 5G, renewables and EVs. However, concerns include demanding valuations, lower margins, customer concentration, raw-material volatility, working capital and execution risks.

"Newer initiatives provide additional long-term growth optionality across renewable energy, EV, defence and industrial applications. The key growth levers are industry growth, market-share gains, capacity utilisation, optical fibre scaling, product diversification and customer cross-selling. Hence, we recommend 'subscribe' to the issue for medium-to-long-term investors," said SMIFS

The issue is valued at 51.6 times PE FY26 , making valuation relatively demanding, while modest PAT growth highlights the need for margin and earnings improvement, said KC Securities. "We recommend 'subscribe with a 2-3 year horizon, with periodic monitoring of earnings growth, margins, working capital and leverage post listing."

Ahead of the IPO, Orient Cables raised Rs 165.60 crore from 20 anchor investors by allotting 60,88,233 shares at Rs 272 apiece. The anchor book included Nippon Life India Trustee, ISIF Hybrid Long Short Fund, Goldman Sachs, Ashoka Whiteoak, Aditya Birla Sun Life  MF, Motilal Oswal MF, Invesco MF, Bandhan MF, 360 One Equities Opportunities Fund, Edelweiss Life Insurance and more.

Orient Cables has evolved from a LAN cable manufacturer into a diversified connectivity infrastructure solutions provider with exposure to multiple high-growth sectors including broadband, telecom, data centres, renewable energy and electric mobility. Its strong customer relationships, broad certification portfolio, manufacturing integration and expanding product basket provide meaningful competitive advantages, said Canara Bank Securities.

Investors should monitor execution of new product categories, raw material price volatility, working capital requirements, export growth, competitive intensity and demand trends in telecom and broadband infrastructure. It appears positioned to capitalize on India's ongoing digital infrastructure and connectivity expansion, " it added with a 'subscribe for long-term' rating.

For the quarter ended June 30, 2026, Orient Cables reported a net profit of Rs 32.78 crore on total income of Rs 490.94 crore. In FY26, it had posted a net profit of Rs 53.56 crore on revenue of Rs 1,181.67 crore. Of the net issue, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors.

Orient Cables is among top-four networking cable players with 22.9 per cent market share, offers diversified products and exposure to data centres, 5G and power upgrades. Its valuation appears attractive versus peers, but lower margins, customer concentration and the Orient Electric brand dispute pose risks. Margin recovery and working capital remain key, said Swastika Investmart with a 'neutral' rating.

In the grey market, Orient Cables was commanding a premium of around Rs 113-115 per share, indicating a potential listing gain of about 41-42 per cent over the upper end of the price band. IIFL Capital Securities and JM Financial Ltd are the book-running lead managers for Orient Cables (India) IPO, while Kfin Technologies Ltd is the registrar for the issue.