Orient Cables Files Rs 7 Billion IPO, Taps IIFL and JM Financial as Lead Managers

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Orient Cables (India) Ltd has filed draft papers for a Rs 7 billion initial public offering, aiming to strengthen its balance sheet and provide an exit route for existing shareholders.

IPO Structure

The offering comprises a fresh issue of Rs 3.2 billion and an offer for sale (OFS) worth Rs 3.8 billion by existing promoters and investors.
IIFL Capital Services and JM Financial have been appointed as book running lead managers for the issue.

Strategic Objectives

Proceeds from the fresh issue will be used to expand manufacturing capacity, repay debt, and invest in R&D for nextgen cable technologies.
The OFS component allows early stakeholders to monetize part of their holdings.

Market Position

Orient Cables is a leading player in power transmission and specialty cables, with a strong presence in infrastructure and industrial segments.
The IPO is expected to attract interest from institutional investors amid rising demand for electrification and smart grid solutions.

Sources: Economic Times, Moneycontrol, IPO Central, Chittorgarh IPO Calendar, JM Financial Filings, IIFL Securities Reports