Orient Cables has finalized the allotment for its Rs 552-crore IPO following a subscription of 92.27 times. Investors can check their allotment status via KFin Technologies. Shares will be credited by October 1 ahead of the October 5 listing on the BSE and NSE.
Orient Cables has finished the allotment process for its initial public offering (IPO), which raised Rs 552 crore. The company attracted significant interest, with total subscriptions reaching 92.27 times the shares on offer. Applicants can now verify their allotment status through the registrar, KFin Technologies, or by checking their respective demat accounts.
The IPO saw heavy participation across different categories of investors. Qualified institutional buyers led the demand, subscribing 182.76 times their reserved portion. Non-institutional investors subscribed 115.63 times, while retail investors placed bids 30.55 times their quota. The anchor book included participation from major domestic institutions like Nippon Life India and ICICI Prudential AMC, reflecting institutional confidence in the company's business model.
Use of IPO Funds and Debt Reduction
Of the total Rs 552 crore raised, Rs 320 crore comes from a fresh equity issuance, while the remaining Rs 232 crore comes from an offer-for-sale. The company plans to use the money raised through the fresh issue for two primary goals: expansion and debt reduction.
Orient Cables has earmarked Rs 91.5 crore to upgrade its manufacturing facilities, including the purchase of new machinery and general infrastructure improvements. More importantly, Rs 155.5 crore is dedicated to paying off existing debt. As of June 2026, the company reported total outstanding borrowings of Rs 258.4 crore. Reducing this debt by over 60% through the IPO proceeds is a key move aimed at improving the company's balance sheet and lowering future interest expenses, which can impact profitability.
Listing and Investor Outlook
The stock is set to make its market debut on October 5. Successful applicants should see their shares credited to their demat accounts by October 1.
Market sentiment leading up to the listing has been positive. Current unofficial trends in the grey market suggest a potential listing price of around Rs 357, which is about 31% higher than the issue price of Rs 272. While this indicates optimism about the company’s role in the networking and connectivity infrastructure sector, investors should remember that such pre-listing signals are unofficial and market conditions on the listing day can differ. The performance of the stock after listing will depend on the company's ability to execute its expansion plans and manage the remaining debt load effectively. Investors may monitor the company's post-listing financial results to see if the debt repayment leads to a noticeable improvement in profit margins.