Orient Cables IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 546.09 | 664.98 | 831.86 |
| Expense | 511.22 | 610.62 | 760.15 |
| Profit (PAT) | 25.96 | 40.07 | 53.29 |
| Total Assets | 236.58 | 293.22 | 427.19 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| RR Kabel Limited | 48.79 | 27.58 | 16 |
| Polycab India Limited | 50.07 | 134.34 | 23 |
| Finolex Cables Limited | 21.11 | 45.82 | 13 |
| Havells India Limited | 65.49 | 23.49 | 19 |
| KEI Industries Limited | 50.39 | 75.65 | 16 |
| Paramount Communications Limited | 20.43 | 2.85 | 13 |
| Birla Cable Limited | 110.17 | 1.63 | 2 |
| Sterlite Technologies Limited | - | -2.54 | -5 |
Promoters: Vipul Nagpal, Garima Nagpal, Vardaan Nagpal, Vipul Family Trust, and Garima Family Trust
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 10,20,35,000 | 100.00% |
Company Information
Orient Cables is one of the premier companies in terms of networking cables and passive networking equipment, as the company has been operating it for around 20 years. These are providing to advanced industries such as broadband, telecom, data centres, renewable energy, smart building automation/ security, system integration, FMEG, and automotive. Leading manufacturer of special cables used in telecommunications, wide range of custom-made products and solutions for different industries, factories are in strategic locations and focus on making innovative products are the company’s strengths. Further, the company also provides a wide range of products, including Networking Cables and Solutions; Specialty Power, Optical Fibre Cables and Solutions; and Other Allied Products. In Fiscal 2025, they are among the top five networking cable companies in India, with around 22% market share.
| Purpose | Amount (Cr) |
|---|---|
| Funding of capital expenditure requirements of our Company towards purchase of machinery, equipment and civil works at our Manufacturing Facilities | 91.50 |
| Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company | 155.50 |
| General Corporate Purposes | - |
Resources & Documents
Orient Cables (India) Limited, House No. 8 BLK-D, Second Floor,, Ashok Vihar PH-1, New Delhi, Delhi, New Delhi, New Delhi, 110052
Orient Cables is preparing a sme offering for an issue size of Rs 700 crore. The SME issue is in the upcoming pipeline with dates yet to be finalised.
Orient Cables is one of the premier companies in terms of networking cables and passive networking equipment, as the company has been operating it for around 20 years. These are providing to advanced industries such as broadband, telecom, data centres, renewable energy, smart building automation/ security, system integration, FMEG, and automotive.
The issue is promoted by Vipul Nagpal, Garima Nagpal, Vardaan Nagpal, Vipul Family Trust, and Garima Family Trust with IIFL Securities Limited, JM Financial Limited acting as lead manager. Net proceeds will primarily be used towards Funding of capital expenditure requirements of our Company towards purchase of machinery, equipment and civil works at o… (Rs 92 crore) and Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Compan… (Rs 156 crore).
On fundamentals, the company is posting revenue growth of 25.1%, a profit margin of 6.4%, return on equity of 34.6% in its most recent reported period. Listed peers in this segment include Polycab India Limited (P/E 50.07x, market cap Rs 23 crore) and Havells India Limited (P/E 65.49x, market cap Rs 19 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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