Orient Cables (India) IPO

Orient Cables IPO will open for subscription on 25 September 2026. The IPO will remain open till 29 September, followed by listing on Monday, October 5. Orient Cables (India) is a B2B manufacturer of networking cables, passive networking equipment and specialised cable solutions.

Incorporated in 2005, the company began manufacturing LAN cables at Unit I in 2006, added patch cords in 2014, CCTV cables in 2015 and CAT6A LAN cables in 2016. Unit II commenced optical-fibre-cable production in 2018, while the company entered keystone jacks in 2024, power strips in 2025 and opened Unit III in Bengaluru in 2026.

The portfolio comprises four segments. Networking cables and solutions include CAT5, CAT5e, CAT6 and CAT6A variants, patch cords, CCTV and coaxial cables. Speciality Power, Optical Fibre Cables and Solutions includes instrumentation, control and power cables, unitube and multitube optical-fibre cables, fibre patch cords and customised assemblies.

The company began assembling wire and cable harnesses and EV-charging-gun cables in FY26, while other allied products includes keystone jacks, power strips and power cords. Networking cables contributed ₹916.57 crore, or 78.2% of FY26 revenue, while speciality power and optical fibre cables contributed ₹250.39 crore, or 21.37%. The two emerging segments together contributed less than 0.5%.

The company supplies telecom operators, telecom-equipment and power-utility manufacturers, OEMs and resellers. Its customers also operate across broadband, data centres, smart-building automation, security and IT services.

As of March 31, 2026, the company served two of India’s three largest telecom companies by revenue and maintained relationships with its ten largest customers for an average of more than nine years. Repeat customers among the top 50 generated 93.9% of FY26 revenue. This customer stickiness is offset by concentration: the largest customer contributed 25.75%, and the ten largest customers contributed 76.52% of FY26 revenue.

Manufacturing is undertaken at two facilities in Bhiwadi, Rajasthan, and a Bengaluru facility that commenced commercial operations in May 2026. The Bhiwadi units are located near inland container depots at Garhi Harsaru and Rewari. Annualised cable capacity was 895,776 km as of June 30, 2026, comprising 226,720 km at Unit I, 627,056 km at Unit II and 42,000 km at Unit III; allied-product capacity was 50.4 lakh pieces. FY26 cable utilisation was 69.8%, while allied-product utilisation was 6.1%. Backward integration includes copper processing, PVC compounding, FRP rods and impregnated fibreglass yarn.

Domestic operations generated ₹1,063.17 crore, or 90.7% of FY26 revenue, with exports contributing ₹108.49 crore, or 9.2%. Export markets include the UAE, Qatar, North America, Australia, Asia and parts of Europe, although the Middle East accounted for ₹94.56 crore of FY26 revenue. The company intends to deepen its presence in Europe, Australia and the US, drawing on existing multinational-customer relationships and international product certifications. This provides geographic optionality, but exports remain a relatively small and regionally concentrated part of the current revenue base.

The addressable industry is supported by broadband densification, 5G, fibre-to-the-home, data-centre construction and renewable-energy electrification. India’s broadband-cable market is projected to expand from approximately ₹14,090 crore in FY26 to ₹31,750 crore in FY31, a 17.6% CAGR; networking cables are projected to grow at 18.7%, while optical-fibre cables are projected to grow at 17.3%. Data-centre power capacity is projected to rise from approximately 1.7 GW in FY26 to 10–12 GW by FY31.

Growth initiatives include E-beam-irradiated speciality cables, solar junction boxes, passive networking components, automotive and appliance harnesses, power cords, tethered-drone systems and EV-charging assemblies. The E-beam facility has begun commercial production, initially for solar cables, while the company is pursuing automotive and railway approvals. Its 51%-owned subsidiary, OCL Greentech, addresses EV-charging-gun and cable assemblies; the company also owns 50% of Corelink Cable Technology, a joint venture with Aditya Infotech for LAN, CCTV and allied cables. Planned capacity additions comprise 359,520 km of cables and 1.22 crore allied-product pieces, subject to successful installation and commissioning.

Orient Cables participates through networking and fibre products, international certifications, customised assemblies and planned E-beam and passive-networking capacity. However, participation depends on timely capacity ramp-up, product approvals and customer conversion; sector growth does not automatically translate into issuer growth.

Now, Orient Cables (India) is launching its initial public offering (IPO), which consists of a fresh issue of ₹320 crore and an offer for sale of ₹232 crore. The total issue size of the IPO is ₹552.00 crore. Its shares will be listed on the NSE and BSE.

If you are interested in this investment opportunity but unsure how to apply for an Orient Cables (India) IPO, follow these steps.

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Orient Cables (India) IPO on Upstox: