Orient Cables opened at ₹272 per share, the top of its ₹258‑272 band, and secured ₹165.6 crore from 14 anchor investors.
Eight domestic mutual funds grabbed 41.17 lakh shares, while two insurance houses took 4.26 lakh shares, reflecting institutional confidence.
FY24‑26 saw revenue CAGR 33.5%, EBITDA 28%, and PAT 15.9%, signalling margin pressure despite top‑line gains.
The fresh issue of ₹320 crore will funnel ₹155.5 crore to pay down ₹258.4 crore debt and ₹91.5 crore into machinery, potentially tightening leverage.
At ₹272, the post‑issue PE sits at 57.5× FY26 earnings, higher than the telecom‑cable sector average of ~45×, but aligned with peers focused on optical fibre.
Analysts project that capacity expansion and new product lines could lift earnings by 20% in FY27, while the debt‑repayment plan may improve net interest coverage.