IPO: Orient Cables applies for IPO, plans to raise Rs 700 crore

News Topical, Digital Desk : Gurugram-based networking cable and solution provider company Orient Cables has applied to SEBI for IPO. The company is working on a plan to raise Rs 700 crore from the market through the issue. According to the company's plan, the fresh issue part in the issue will be Rs 320 crore, while Rs 380 crore will be raised through offer for sale. Along with this, the company plans to raise up to Rs 64 crore through pre-IPO placement. If the company raises this amount, then this much share will be reduced from the fresh issue.

What is the company's plan regarding the amount?

The company will use about Rs 92 crore out of this amount for the purchase of machinery, equipment and civil work. Along with this, the company will use Rs 155.5 crore to reduce the debt burden. The remaining amount will be used for normal business related work. The company's income in the financial year 2025 was Rs 825 crore. It has grown by 25.4 percent on a year-on-year basis. At the same time, the profit has increased by 33 percent. 

Who else has applied for the issue? Earlier, ICICI Prudential Asset Management has applied for the issue a day earlier. Through the issue, the company will raise Rs 10 thousand crore from the market. According to the information received, this entire issue will be an offer for sale. In which Prudential Corporation Holding will offer 1.76 crore shares. 

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