Orient Cables opens 552cr IPO priced 258 to 272 each
Business
Orient Cables (India) Ltd is opening its ₹552 crore IPO from September 25 to 29, with shares priced at ₹258 to ₹272 each.
The offer includes a fresh equity issue of ₹320 crore and an Offer for Sale (OFS) of up to ₹232 crore, a bit lower than earlier plans.
If you're tracking new listings, this could be one to watch.
IPO proceeds fund machinery and loans
The fresh funds will go toward buying new machinery, upgrading manufacturing facilities, and paying off loans. Some cash will also cover general business needs.
Orient Cables makes networking cables and products used in broadband, telecom, and data centers, and they're set to debut on the stock market on October 5.
JM Financial and IIFL Capital Services are managing the process, so it should be a smooth ride from launch to listing.