Orient Cables Shares to List with 45% Grey Market Premium on Oct 5

Orient Cables is scheduled to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Monday, October 5, 2026. Prior to the listing, the shares have attracted considerable attention in the grey market, where the premium currently stands at around 45 percent above the IPO issue price. This suggests that investors are expecting the stock to open significantly higher than its initial pricing.

The company raised Rs 552 crore through its initial public offering, which was conducted via a book-building process. The IPO included a fresh issue of 1.18 crore shares worth Rs 320 crore and an offer for sale (OFS) comprising 85.29 lakh shares valued at Rs 232 crore. The subscription period ran from September 25 to September 29, 2026, and the issue was oversubscribed by 97.28 times in total. Different investor categories showed strong demand, with the retail segment subscribed 32.21 times, qualified institutional buyers (QIBs) excluding anchor investors 192.68 times, and non-institutional investors (NIIs) 121.90 times.

Orient Cables had set its IPO price band between Rs 258 and Rs 272 per share. With a lot size fixed at 55 shares, retail investors had to commit a minimum amount of Rs 14,960 at the upper price limit. The allotment process concluded on September 30, and the shares will officially list on both NSE and BSE on October 5.

Leading the IPO were IIFL Capital Services Ltd. and JM Financial Ltd., who acted as book-running lead managers. The registrar for the issue was KFin Technologies Ltd.

Grey Market Activity and Its Significance

The grey market premium (GMP) for Orient Cables shares currently stands at Rs 121 per share, which is approximately 45 percent higher than the highest price in the IPO band of Rs 272. This implies an estimated listing price of around Rs 393 per share. However, it is important to understand that GMP is an unofficial indicator. It is not regulated and can fluctuate based on market sentiment and demand leading up to the listing day. Therefore, the actual listing price could differ from this estimate.

Use of IPO Proceeds

The funds raised from the IPO will primarily support Orient Cables’ expansion plans. The company intends to allocate Rs 91.50 crore towards capital expenditures, which includes acquiring machinery, equipment, and conducting civil work at its manufacturing units. Another Rs 155.50 crore is planned to be used for repaying or prepaying certain outstanding loans, either partially or fully. The remaining proceeds will be directed towards general corporate purposes, which may include working capital and other operational needs.

Financial Performance Overview

In the fiscal year 2026, Orient Cables reported a total income of Rs 1,182 crore, marking a 42 percent increase compared to Rs 832 crore in the previous year. Despite strong revenue growth, the company’s profit after tax (PAT) remained relatively steady at Rs 54 crore, nearly matching the Rs 53 crore recorded in FY25.

Company Background

Established in September 2005, Orient Cables (India) Limited specializes in manufacturing networking cables and passive networking equipment. With nearly two decades of industry experience, the company supplies products to sectors such as broadband, telecommunications, data centers, renewable energy, smart building automation, security, system integration, fast-moving electrical goods (FMEG), and automotive industries. As of June 30, 2026, Orient Cables employed 613 permanent staff members and 1,327 contractual workers.

Given its established presence and the strong response to its IPO, Orient Cables is positioned to expand its operations and strengthen its market footprint. Investors will be watching closely as the shares begin trading on October 5.

Disclaimer: The information presented here is based on data available from SEBI-registered analysts and market sources. It does not represent investment advice. Readers should perform their own due diligence before making financial decisions.