Orient Cables (India) Ltd has filed preliminary papers with SEBI to raise Rs700 crore through an initial public offering (IPO). The offer comprises a fresh issue of Rs320 crore and an Offer for Sale (OFS) of Rs380 crore by promoters2.
Proceeds from the fresh issue will be allocated as follows:
- Rs91.5 crore for capital expenditure — including machinery, equipment, and civil works
- Rs155.5 crore for repayment or prepayment of borrowings
- Remaining funds for general corporate purposes3
The company may also consider a pre-IPO placement of up to Rs64 crore, which would reduce the fresh issue size if undertaken.
Orient Cables specializes in networking cables and passive networking equipment, serving high-growth sectors like broadband, telecom, data centres, renewable energy, and smart building automation. Its product portfolio spans networking cables and solutions, specialty power, optical fibre cables, and other allied offerings.
IIFL Capital Services and JM Financial have been appointed as merchant bankers for the IPO.
