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Orient Cables Secures Rs 165.6 Cr From Anchor Investors

By Business DeskOrient Cables Secures Rs 165.6 Cr From Anchor Investors

Orient Cables raises Rs 165.6 crore from anchor investors ahead of its Rs 552-crore IPO. Discover allotment details, top investors, and timeline.

Orient Cables (India) Ltd secured Rs 165.6 crore from anchor investors prior to launching its public offering. Shares were allocated at the upper limit of the price band.

Anchor Allotment Details

  • Total anchor raise: Rs 165.6 crore
  • Shares allotted: 60,88,233 equity shares
  • Participating anchor investors: 20 institutional entities
  • Price per share: Rs 272

The investor roster features Nippon India Mutual Fund, Goldman Sachs, Aditya Birla Sun Life Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Ashoka Whiteoak, and Edelweiss Life Insurance Company.

IPO Structure and Timeline

  • Total IPO size: Rs 552 crore
  • Price band: Rs 258-272 per share
  • Subscription dates: September 25 to September 29
  • Fresh issue: Up to Rs 320 crore
  • Offer-for-sale: Up to Rs 232 crore

Fresh issue proceeds will fund capital expenditure for machinery, equipment, and civil works at manufacturing facilities, alongside debt repayment and general corporate purposes. The company focuses on networking cables and passive networking equipment for telecom, broadband, and data centers.

Expected Listing Date

Orient Cables is scheduled to list on the stock exchanges on October 5.

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