Orient Cables lists at ₹450 and falls 10% to ₹364.50
Business
Orient Cables had a wild start on the stock market: after listing at ₹450 (a hefty 65% above its IPO price of ₹272), the shares dropped 10% to ₹364.50 on Tuesday.
Still, that's about 34% higher than what early investors paid, so it's far from a flop.
Orient Cables IPO nearly 97x oversubscribed
The IPO was massively popular, getting oversubscribed nearly 97 times.
Orient Cables works in fast-growing areas like telecom and renewable energy, with factories in Rajasthan and Bengaluru.
In FY26, total income rose by 42% to ₹1,182 crore from ₹832 crore in FY25 while profits held steady at around ₹54 crore.
The company plans to use the IPO funds for expansion and paying off debt, moves that could help it grow even more down the line.