Orient Cables IPO Subscribed 8.32 Times as Investors Place Over 1.24 Crore Share Bids
New Delhi, India | September 29, 2026: Orient Cables (India) Ltd's initial public offering (IPO) attracted bids for more than eight times the shares on offer by the second day, reflecting strong demand from non-institutional and retail investors. The ₹552 crore IPO is scheduled to close on September 29, with the company planning to use fresh issue proceeds to expand manufacturing capacity and repay borrowings.
The strong subscription comes as Orient Cables seeks to raise funds for its operations across networking, telecom, data centres and other infrastructure-related sectors.
Orient Cables IPO Subscription Reaches 8.32 Times
The IPO was subscribed 8.32 times on the second day of bidding, according to data available with the National Stock Exchange (NSE).
Investors submitted bids for 12,45,46,565 shares against the 1,49,76,743 shares on offer.
Non-institutional investors led the subscription, with their portion booked 17.37 times. Retail investors subscribed 9.16 times, while the qualified institutional buyers (QIB) category received bids equivalent to 6% of its allotted portion.
The IPO had already been fully subscribed on the first day of bidding.
IPO Price Band Set at ₹258–₹272 Per Share
Orient Cables has fixed the IPO price band at ₹258 to ₹272 per share. The public issue comprises a fresh issue of shares worth up to ₹320 crore and an offer for sale (OFS) of up to ₹232 crore.
The company had earlier filed preliminary papers with the Securities and Exchange Board of India (SEBI) for a ₹700 crore IPO. The revised issue size is ₹148 crore lower, with the entire reduction coming from the OFS component.
Before the public issue, Orient Cables raised ₹165.6 crore from anchor investors.
Where the IPO Proceeds Will Be Used
The company plans to use the proceeds from the fresh issue primarily for capital expenditure at its manufacturing facilities.
The proposed spending includes the purchase of machinery and equipment, as well as civil works. A portion of the funds will also be used to repay or partially prepay certain borrowings.
The remaining amount will be allocated to general corporate purposes.
The planned investment in manufacturing could support the company's capacity and operational requirements as it serves customers across multiple infrastructure-related industries.
Orient Cables Supplies Products to Key Infrastructure Sectors
Orient Cables specialises in networking cables and passive networking equipment. Its customers operate in sectors including broadband, telecommunications, data centres, renewable energy and smart building automation.
Its product portfolio is divided into three broad segments: networking cables and solutions; speciality power and optical fibre cables and solutions; and other allied products.
These markets depend on communication networks, data infrastructure and electrical connectivity, making the company's manufacturing operations relevant to several areas of infrastructure development.
What the IPO Means for the Company's Expansion
The fresh issue is intended to fund manufacturing investments and reduce selected borrowings. These uses could support the company's operational plans, although the extent of any future business growth will depend on demand, execution and financial performance.
The OFS component, meanwhile, involves the sale of existing shares and does not provide proceeds to the company.
Investors assessing the IPO may wish to examine the company's financial performance, use of funds, competitive position and ability to convert demand into sustainable earnings.
When Will Orient Cables Shares List?
The IPO is scheduled to close on September 29, 2026, with the company's stock market debut expected on October 5.
The second-day subscription figures show substantial demand, particularly from non-institutional and retail investors. However, subscription levels alone do not establish the company's future share performance.
The listing and subsequent trading will depend on market conditions, investor expectations and the company's financial outlook.