Orient Cables IPO Day 1: Subscribed 0.61x; NII surges to 1.50x

3 min read | Published on 25 Sept 2026, 11:27 AM |Updated on 25 Sept 2026, 12:29 PM

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Ritika DScanX News Team

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Key Highlights

Orient Cables IPO Day 1 subscription stands at 0.61x as of 12:15 PM IST
NII (sHNI) leads with 1.50x subscription, followed by Retail at 0.86x
Total demand surged 84.8% from 0.33x at 11:15 AM to 0.61x by 12:15 PM
QIB participation remains at 0.00x with no institutional bids received yet

*this image is generated using AI for illustrative purposes only.

Orient Cables IPO opened on September 25, 2026, with overall subscription reaching 0.61x by the latest update. Non-Institutional Investors (NII) drove the momentum, with Small HNIs subscribing to 1.50x of their quota, while Retail investors showed increased interest at 0.86x.

Subscription Status

The issue witnessed a significant jump in demand between the 11:15 AM and 12:15 PM snapshots. The total subscription nearly doubled from 0.33x to 0.61x in just one hour. The Non-Institutional Investor segment was the primary driver, with Big HNIs moving from 0.77x to 1.50x, a 94.8% increase. Retail investors also picked up pace, rising from 0.47x to 0.86x. Qualified Institutional Buyers (QIB) and Employees recorded no subscriptions as of the latest data point.

Category	Subscription (Latest)
QIB	0.00x
NII (sHNI)	1.50x
NII (bHNI)	0.50x
Retail	0.86x
Employees	0.00x
Total	0.61x

Intra-day Timeline

The subscription data for Day 1 shows a rapid acceleration in retail and HNI interest during the first two hours of trading.

Time (IST)	QIB	NII (bHNI)	Retail	Total
11:15	0.00x	0.77x	0.47x	0.33x
12:15	0.00x	1.50x	0.86x	0.61x

Offer Details

The Orient Cables IPO is a book-built issue with a price band of ₹258.00 to ₹272.00 per share. The minimum bid quantity is set at 55 shares. The issue size ranges from ₹14,190 crore to ₹5,00,000 crore based on the final price band selection.

Parameter	Details
Price Band	₹258.00 - ₹272.00
Issue Size	₹14,190 - ₹5,00,000 crore
Min Bid Qty	55 shares
Opening Date	2026-09-25
Closing Date	2026-09-29

About the Company

Orient Cables (India) Limited is a prominent manufacturer of networking cables and passive networking equipment. With nearly two decades of operations, the company holds an approximate 22.9% market share in the networking cables industry in Fiscal 2026. It operates three manufacturing facilities in Bhiwadi and Bengaluru with an installed capacity of 895,776 kms of cables. The company serves key sectors including broadband, telecom, data centres, and renewable energy.

Financial Highlights

The company has demonstrated strong revenue growth, achieving a CAGR of ~33.45% from Fiscal 2024 to Fiscal 2026. Total revenue grew from ₹664.98 crore in FY24 to ₹1,181.67 crore in FY26.

Metric (₹ crore)	FY 2024	FY 2025	FY 2026
Total Revenue	664.98	831.86	1,181.67
Profit Before Tax	54.36	71.71	72.60
Profit After Tax	40.07	53.32	53.56

Objects of the Issue

The net proceeds from the IPO are intended for:

Capital Expenditure: Purchase of machinery and civil works for manufacturing facilities (₹91.50 crore).
Debt Repayment: Repayment or prepayment of outstanding borrowings (₹155.50 crore).
General Corporate Purposes: Marketing, working capital, and business development.

Risk Factors

Customer Concentration: 84.00% of revenue from operations came from the top 10 customers for the period ended June 30, 2026.
Raw Material Volatility: Over 74.91% of raw materials sourced from top 10 suppliers, with exposure to copper and PVC price fluctuations.
Negative Cash Flows: The company reported negative cash flows from operating activities of ₹(266.44) million in Fiscal 2026.