Polycab India Limited, a leading manufacturer and seller of wires and cables in the country, is issuing the IPO (Initial Public Offering). The company targets to raise the capital with the issue of equity shares worth Rs 5,000 million. The equity shares of face values Rs 10/- are being issued at Rs 538 each and on a discounted price of Rs 533 during the offer. Polycab wires IPO opens on 5th April 2019 and closes on 9th April 2019. After allocation, the equity shares will be listed on BSE and NSE for further trading.
About Polycab India Limited
Polycab India Limited was incorporated in the year 1996 in Mumbai. This company is engaged in the business of manufacturing and selling of wires and cables and Fast Moving Electrical Goods (FMEG). It deals with its products under the brand name POLYCAB. According to CRISIL Research, they are the largest manufacturer in the wires and cables industry in India, in terms of revenue from the wires and cables segment and provide one of the most extensive ranges of wires and cables in India. Apart from wires and cables, it manufactures and sell products such as electric fans, LED lighting and luminaires, switches and switchgear, solar products and conduits and accessories.
The company manufactures and sells a diverse range of wires and cables. Their key products in the wires and cables segment are power cables, control cables, instrumentation cables, solar cables, building wires, flexible cables, flexible/single multi-core cables, communication cables and others including welding cables, submersible flat and round cables, rubber cables, overhead conductors, railway signaling cables, specialty cables and green wires. They have 25 manufacturing facilities, including their two joint ventures with Techno Electromech Private Limited and Trafigura Private Limited, which are located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu.
Polycab India Ltd is promoted by Inder T. Jaisinghani, Ajay T. Jaisinghani, Ramesh T. Jaisinghani, and Girdhari T. Jaisinghani. As on 31st December 2018, the total asset of the company stands at Rs 5,38,590.7 lakhs and the total revenue stands at Rs 5,50,670.0 lakhs.
Polycab Wires IPO – Issue Details
| Issue Type | Book Built IPO Issue |
|---|---|
| Issue Opens | 5th April 2019 |
| Issue Closes | 9th April 2019 |
| Face Value | Rs 10 Per Equity Share |
| Issue Price | Rs 533 – 538 Per Equity Share |
| Issue Size | 24,886,823 Equity Shares (Rs 5,000 million) |
| Market Lot | 27 Shares |
| Minimum Order Quantity | 27 Shares |
| Listing | BSE, NSE |
Polycab Wires IPO – Objects of the Issue
The following are the objects Polycab India IPO Issue:-
- Scheduled repayment of all or a portion of certain borrowings availed by the company.
- To fund the incremental working capital requirements of the company.
- General corporate purposes.
Polycab Wires IPO – Company Contact Details
Registered Office: E-554, Greater Kailash – II, New Delhi – 110048
Telephone: +91-11-2922 8574
Corporate Office: Polycab House, 771, Mogul Lane, Mahim (West), Mumbai – 400016
Website: www.polycab.com
Polycab Wires IPO – Lead Managers to the Issue
The following are the lead managers to the Polycab India IPO Issue:-
- IIFL Holdings Limited
- YES Securities (India) Limited
Polycab India IPO Issue – Global Coordinators
Following are the global coordinators of the Polycab India IPO Issue:-
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- Edelweiss Financial Services Limited
Polycab Wires IPO – Registrar to the Issue
The registrar to the Polycab Wires Issue is Karvy Computershare Private Limited.
Click here to read the Draft Issue Prospectus of Polycab India IPO Issue.
Where to Place Bids for Polycab India IPO?
Click here to visit the online ASBA form at BSE India. (Please consult your financial advisor first)
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Disclaimer: This post is just information about the issue. It does not give any advice or recommendation. Investments into securities are subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
Tags: #IPO #Stock Market #Polycab India Limited IPO #Polycab Wires IPO
