Home / Business and Economy / Orient Cables IPO Soars: Grey Market Signals 33% Premium
Orient Cables IPO Soars: Grey Market Signals 33% Premium
28 Sep
Summary
- Orient Cables IPO shows a 33% grey market premium on Day 2.
- The Rs 552 crore issue was subscribed 1.96 times on Day 1.
- IPO aims to fund capital expenditure and repay borrowings.
The Orient Cables IPO has entered its second day of bidding on September 26, 2026, with strong indications of a successful listing. The grey market premium (GMP) is currently around 33%, suggesting a potential listing price of approximately Rs 362 per share.
By the end of Day 1, the Rs 552 crore issue saw an overall subscription of 1.96 times against the 1.49 crore shares on offer. The Retail Individual Investors (RII) category was subscribed 2.43 times, while Non-Institutional Investors (NII) subscribed 3.48 times. The Qualified Institutional Buyers (QIB) category showed minimal subscription at 0.01%.
The book-built issue 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 IPO will close on September 27, 2026, with allotment expected on September 30 and listing on NSE and BSE on October 5, 2026.
Orient Cables (India) Limited intends to use the net proceeds for capital expenditure, including purchasing machinery and equipment, and civil works at its manufacturing facilities. A significant portion, Rs 155.50 crore, is allocated for repaying outstanding borrowings. The remaining funds will support general corporate purposes.
The company reported a 42% increase in total income to Rs 1,182 crore in FY26 from Rs 832 crore in FY25. Profit after tax remained stable at Rs 54 crore in FY26, compared to Rs 53 crore in FY25. Incorporated in September 2005, Orient Cables manufactures networking cables and passive networking equipment.
