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Polycab India IPO To Open On Friday

Wires and electric goods manufacturer Polycab India Limited plans to raise Rs.1,345crore Initial Public Offering ( IPO) through a mix of fresh issue of equity shares, which will be launched on 5-April.

The IPO, consists of 2,50,91,896 equity shares of face value Rs10 each through a 100% book building process which includes Rs 400 crore of fresh issue and an offer for sale of 17,582,000 shares of face value of Rs10 a piece, will close on 9-April.

The price band for the issue is Rs533 to Rs538 per share with a minimum bid size of 27 equity shares.

Polycab India Limited is a market leader in wires and cables market. The company’s listed peers include Finolex Cables, Apar Industries, Bajaj Electricals, Havells India, V-Guard Industries, KEI Industries and Crompton Greaves Consumer Electricals.