The Orient Cables IPO listing is on Monday, 5 October 2026. The ₹552 crore issue was priced at ₹272 a share and closed on 29 September with 92.27 times subscription, the strongest book of the four mainboard IPOs listing that day. The grey market premium on 4 October was ₹115, or 42.28 per cent over the issue price.
What it carries into the open
Orient Cables (India) makes networking and power cables from two plants in Gujarat. Every figure below is from our own tracker, and the full set sits on the Orient Cables IPO page.
| Item | Detail |
|---|---|
| Issue price | ₹272 (band ₹258–272) |
| Issue size | ₹552 crore, fresh capital plus offer for sale |
| Lot size | 55 shares |
| One lot at the issue price | ₹14,960 |
| Total subscription | 92.27x |
| Grey market premium, 4 October | ₹115 (42.28%) |
| Registrar | KFin Technologies |
| Listing date | 5 October 2026, on NSE and BSE |
The book that brought it here
At 92.27x, Orient Cables is the 25th most subscribed of the 97 mainboard IPOs that have closed in 2026, where the median is 28.14x. Institutions led it.
| Category | Subscribed |
|---|---|
| QIB | 182.76x |
| NII (total) | 115.63x |
| NII, bids above ₹10 lakh | 123.18x |
| NII, bids ₹2–10 lakh | 100.53x |
| Retail | 30.55x |
| Total | 92.27x |
QIB means qualified institutional buyers, the mutual funds and insurers who bid through the book. At 182.76x their portion was the most crowded part of the issue, which is usually read as a sign that the price was accepted by people who met the management. Retail at 30.55x works out to roughly one application in 31 getting a lot, so most people reading this did not get shares. We covered the final book and the allotment in our 29 September report on the 92x close.
What the grey market is quoting
GMP is an unofficial premium dealers quote for unlisted shares. No exchange publishes it, nobody is bound by it, and it can move in a day. Here is how ours has moved since the issue closed.
| Date | GMP | Over issue price |
|---|---|---|
| 29 September | ₹85 | 31.25% |
| 30 September | ₹90 | 33.09% |
| 1 October | ₹107 | 39.34% |
| 2 October | ₹123 | 45.22% |
| 3 October | ₹115 | 42.28% |
| 4 October | ₹115 | 42.28% |
The premium has climbed by ₹30 since the close and eased from its ₹123 peak. At ₹115 it points to an open around ₹387, which on one lot of 55 shares would be about ₹6,325 on paper. Whether the open lands there is another matter.
On the last 10 mainboard listings our final GMP was off the actual move by 8.28 percentage points on average, and it understated the gain on seven of those ten. Across 2026, 61 of the 92 mainboard IPOs that listed opened above their issue price, with a median gain of 7.15 per cent. Our Orient Cables GMP page carries the quote until the shares list.
What the company actually does
Orient Cables (India) was started in September 2005 and makes networking cables along with the connectors, jacks and patch cords that go with them. Its range runs from CAT5 to CAT6A cables and optical fibre to instrumentation, control and power cables, and it sells to broadband providers, data centres, renewable energy firms, building automation and automotive customers. Installed capacity was 895,776 km as on 30 June 2026. The 1Lattice report in its prospectus places it among the top four networking cable makers in India.
Newer lines include E-beam irradiated specialty cables, solar junction boxes, tethered drone systems and EV charging cables and guns. These are small today.
The financials under the price
Revenue has grown fast. Total income went from ₹664.98 crore in FY2024 to ₹831.86 crore in FY2025 and ₹1,181.67 crore in FY2026, a rise of 42 per cent in the last year. Profit did not follow: profit after tax was ₹53.32 crore in FY2025 and ₹53.56 crore in FY2026, flat. In the June 2026 quarter it reported total income of ₹490.94 crore and profit of ₹32.78 crore.
Borrowing has risen from ₹36.73 crore in FY2024 to ₹258.46 crore as on 30 June 2026, against a net worth of ₹268.76 crore, a debt-to-equity ratio of 0.95. The issue was priced at 23.61 times earnings on an EPS of ₹11.52, for a market capitalisation of ₹3,095.35 crore at ₹272. Of the fresh money, ₹91.50 crore goes into machinery and civil works at its plants and ₹155.50 crore repays borrowings. Promoter holding falls from 100 per cent to 82.17 per cent.
What happens next
Trading starts at 10 AM on 5 October, after a special pre-open session from 9 AM in which the exchanges settle the opening price. Allotment was finalised on 30 September and refunds and demat credits went out on 1 October, so anyone who got shares can see them in their demat account already. We will publish the NSE and BSE opening prices against the ₹272 issue price the same morning.
Frequently asked questions
What is the Orient Cables IPO listing date?
5 October 2026, on both NSE and BSE, with trading from 10 AM after the 9 AM special pre-open session.
What was the Orient Cables IPO issue price and lot size?
The issue price was ₹272 a share and one lot was 55 shares, so a single retail application at the top of the band cost ₹14,960.
How much was the Orient Cables IPO subscribed?
92.27 times overall, with QIB at 182.76x, NII at 115.63x and retail at 30.55x.
