Oswal Cables IPO

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Oswal Cables IPO details

To be announced
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About Oswal Cables

Oswal Cables Limited is an Indian manufacturer of high-voltage conductivity products. The company was incorporated in 1971 in Rajasthan and has over five decades of operating history. It was originally established as a private limited company and was converted into a public limited company in 2025. The promoters are Puneet Talera and Gaurav Talera. The company operates as an integrated manufacturer, serving the power transmission and distribution sector, renewable energy projects, railways, and industrial applications. Its product portfolio includes conductors, power cables and allied products designed for critical energy infrastructure. Manufacturing operations are supported by facilities in Jaipur, Rajasthan and Medak, Telangana. Oswal Cables follows a business-to-business model, supplying directly to utilities, EPC contractors and large institutional customers across India. The company focuses on repeat customers and long-term relationships. Key strengths include long operating experience, in-house manufacturing capabilities, a diversified end-use base within the energy ecosystem, and a strong track record of financial growth in recent years.

Financials of Oswal Cables

Utilisation of Proceeds

Purpose INR crores (%)
Capital expenditure for a new project 186.16 (62.05%)
Repayment / pre-payment of borrowings 40 (13.33%)
General corporate purposes 73.84 (24.62%)

Strengths

  • Over five decades of operating history in cables and conductors manufacturing.
  • Integrated manufacturing capabilities serving power, renewables and railways.
  • Strong revenue, EBITDA and PAT growth over recent years.
  • High repeat business from established utility and EPC customers.
  • Approved vendor for multiple large customers in critical infrastructure sectors.

Risks

  • Significant revenue concentration from top customers.
  • High dependence on the power transmission and distribution sector.
  • Exposure to volatility in raw material prices.
  • No long-term contracts with most raw material suppliers.
  • First public issue with no prior market trading history.