On Monday, October 5, Orient Cables’ shares opened at ₹450 on the NSE, a 65.44% premium over its ₹272 IPO price—sent the stock to a high price level right from the first trade.
The offering saw a 97.28‑times subscription, with retail investors buying at 32.21×, qualified institutional buyers at 192.68×, and non‑institutional investors at 121.90×. Anchor investors had already committed ₹165.6 crore before the IPO closed, per the company’s filing with the NSE.
A total of ₹552 crore was raised, with ₹91.5 crore earmarked for machinery and equipment, ₹155.5 crore earmarked for debt repayment, and the balance earmarked for general corporate purposes. The proceeds will fund the company’s expansion of networking cable and optical fibre manufacturing facilities.
As of June 2026, Orient Cables reported total borrowings of ₹258.4 crore, of which ₹240.4 crore were secured, fund‑based facilities. The debt structure is being used to support production capacity upgrades announced in the IPO prospectus.
The 65% premium outpaces the 58% average premium for tech‑hardware IPOs in Q3 2026, showing robust demand for networking infrastructure stocks. The high subscription rate and premium reflect investors’ confidence in the company’s growth trajectory.
With the shares now open to the broader market, analysts will be watching the first earnings report in December to gauge revenue growth, margin expansion, and the impact of the capital expenditure on operating profitability.