Bhubaneswar: Jaipur headquartered, Oswal Cables Limited has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator SEBI. The Company plans to raise Rs. 500 Crores through a mix of Fresh Issue aggregating up to Rs. 300 Crores and Offer for Sale of Up to 22,200,000 Equity Shares of face value of ₹ 5/- each via IPO.
Oswal Cables Limited, is an integrated manufacturer of high voltage conductivity products with a voltage spectrum of up to 765 kV, deployed across critical energy infrastructure uses including transmission and distribution, renewable energy integration, railways and industrial application. The Company has demonstrated strong financial growth in recent years, positioning itself among the top ten cable and conductor companies in India by turnover. (Source: F&S Report).
The Company proposes to utilize the Net Proceeds from the Offer towards: Funding capital expenditure requirements for setting up a new project; Repayment/pre-payment, in part or full, of certain borrowings availed by Company; and General Corporate Purposes.
Oswal Cable wide-ranging product portfolio includes, standard conductors, advanced conductors, aerial bunched cables, low-voltage energy cables, railway signalling cables, service drop cables, and concentric cables. With such diversified product portfolio conforming to multiple specifications and broad voltage applications, the Company has become a comprehensive solution provider for the energy transmission and distribution industry.
With three generations of family experience and over five decades of market presence, the Company and its products have been approved and enlisted by more than 50 customers engaged in the energy transmission and distribution industry, and have obtained various quality and process certifications, both in India and internationally
The Company’s EBITDA and PAT grew at the fastest CAGR of 49.73% and 63.08% respectively over the last three Fiscals and the Company recorded highest RoE of 27.42% in the Fiscal 2025, as compared to its listed peers. Similarly, the Company had second highest RoCE of 30.10% in Fiscal 2025, amongst its peer group. (Source: F&S Report). The Company also recorded the highest Fixed Assets Turnover Ratio and Inventory Turnover Ratio in Fiscal 2025, thereby becoming the most working capital efficient Company, as compared to its listed peers (Source: F&S Report).
The Company had started its exports in 1992 by supplying products to Bangladesh. During the preceding three Fiscals, the Company exported to 28 countries across five continents. The Company’s sales span regions such as North America, Africa, Middle East and Asia.(Source: F&S Report) Domestically, during the preceding three Fiscals, the Company has supplied its products to 22 states/ union territories. During the preceding three Fiscals, its exports ranged from 34-54% of its revenue from operations.
Pantomath Capital Advisors Private Limited is the sole Book Running Lead Manager to the IPO.
Disclaimer: Oswal Cables Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the DRHP dated
September 30, 2025 with SEBI and the Stock Exchanges. The DRHP is available on the website of the Company at www.oswalcables.com, SEBI at www.sebi.gov.in, as well as on the website of the BRLM, i.e., Pantomath Capital Advisors Private Limited at
www.pantomathgroup.com, respectively and the websites of National Stock Exchange of India Limited and BSE Limited at www.nseindia.com and www.bseindia.com, respectively. Potential investors should note that investment in equity shares involves a high degree
of risk and for details relating to such risks, please see the section entitled “Risk Factors” on page 34 of the DRHP and the details set out in the RHP, when filed. Potential investors should not rely on the DRHP for making any investment decision.
This announcement does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities
laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable
U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) in the United States only to “qualified institutional buyers”, as defined in Rule 144A under the U.S. Securities Act, in transactions exempt from the registration requirements of the
U.S. Securities Act and (ii) outside the United States in “offshore transactions” as defined in, and in reliance on Regulation S under the U.S. Securities Act and in accordance with the applicable laws of the jurisdictions where such offers and sales are made. There will
be no public offering of the Equity Shares in the United States.
