Orient Cables to launch ₹552-cr IPO on Sep 25

Orient Cables (India) Ltd has announced its intention to launch a ₹552-crore IPO, with a price band of ₹258-272 per share. The issue will open for public subscription on September 25 and close on September 29. The IPO comprises a fresh issue of equity shares worth up to ₹320 crore and an Offer for Sale (OFS) of shares aggregating up to ₹232 crore.

The proceeds from the fresh issue will be used for capital expenditure, repayment or partial prepayment of borrowings, and general corporate purposes. Orient Cables specializes in networking cables and passive networking equipment, catering to various industries including broadband, telecom, data centres, renewable energy, and smart building automation.

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