Orient Cables (India) Files DRHP With SEBI to Launch ₹700 Crore IPO
By Shishta Dutta | Published at: Jul 10, 2025 06:06 PM IST
New Delhi, July 10 (IST) — SEBI has received a Draft Red Herring Prospectus (DRHP) of Orient Cables (India) Limited for its Initial Public Offering (IPO) and intends to raise ₹ 700 crores through a combination of a fresh issue and an Offer for Sale (OFS).
IPO Structure: ₹320 Cr Fresh Issue, ₹380 Cr Offer for Sale
As per the DRHP filed on July 10, 2025, the IPO comprises:
| Component | Equity Shares | Aggregate Amount |
|---|---|---|
| Fresh Issue | Up to [●] shares of ₹1 face value | ₹3,200 million |
| Offer for Sale (OFS) | Up to [●] shares of ₹1 face value | ₹3,800 million |
| Total Offer Size | Up to [●] equity shares | ₹7,000 million |
The Offer is being made by Regulation 6(1) of the SEBI ICDR Regulations and will be managed by the BRLMs, IIFL Capital Services and JM Financial.
Book Running Lead Managers: IIFL Capital Services and JM Financial
Registrar: KFin Technologies Ltd
OFS Breakdown: Promoter Divestment of ₹3,800 Million
The Offer for Sale includes shares offloaded by four promoter entities:
| Selling Shareholder | Type | Offer Amount (₹ mn) | Weighted Avg. Cost (₹/share) |
|---|---|---|---|
| Vipul Nagpal | Promoter Individual | ₹921.00 | ₹0.01 |
| Garima Nagpal | Promoter Individual | ₹215.00 | ₹0.01 |
| Vipul Family Trust | Promoter Trust | ₹1,332.00 | ₹0.00 |
| Garima Family Trust | Promoter Trust | ₹1,332.00 | ₹0.00 |
| Total | ₹3,800.00 | — |
Pre-IPO Placement Option of ₹64 Cr
The company may consider a pre-IPO placement of up to ₹640 million, which would reduce the fresh issue size accordingly, subject to compliance with the 20% cap on pre-IPO placements set by SEBI.
Use of Fresh Issue Proceeds
The net proceeds from the ₹320 crore fresh issue are proposed to be used as follows:
| Purpose | Allocation (₹ mn) |
|---|---|
| Capex: Machinery, equipment, and civil works | ₹915.00 |
| Repayment/prepayment of certain borrowings | ₹1,555.00 |
| General corporate purposes | [●] |
| Total Net Proceeds | [●] |
Financial Highlights (Restated)
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Revenue from Operations (₹ mn) | 8,249.58 | 6,577.67 | 5,436.78 |
| PAT (₹ mn) | 532.91 | 400.69 | 259.59 |
| EPS (₹) | 5.22 | 3.93 | 2.54 |
| Net Worth (₹ mn) | 1,806.72 | 1,275.43 | 875.58 |
| ROE (%) | [Not disclosed] | — | — |
Promoter Holding Pre and Post Offer
| Shareholder | Pre-Offer Holding | Post-Offer Holding |
|---|---|---|
| Promoters (Total) | 99.99% (102,034,800) | [●] |
| Promoter Group (Others) | Negligible (200 shares) | [●] |
About the Company
Incorporated in 2005, Orient Cables (India) Ltd is a manufacturer of networking cables, speciality power cables, optical fibre cables, and passive networking products. It serves high-growth sectors including broadband, data centres, telecom, renewable energy, and smart infrastructure. Its manufacturing facilities are located in Bhiwadi, Rajasthan.
The company plans to enhance product diversification with new offerings such as E-beam irradiated cables and tethered drone systems.
It proposes to list its shares on both the BSE and NSE.
Note: [●] indicates placeholders for data to be finalised upon price band and allotment.
REF: https://www.bseindia.com/corporates/download/320360/IPO Prior/OrientCablesIndiaLimitedDraftRedHerringProspectus_20250710153112.pdf
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