The price band of the issue is fixed at Rs 533-538. At the upper limit of the band, the issue size is Rs 1,345.26 crore.
NEW DELHI: Polycab India, country’s largest manufacturer of wires and cables in terms of revenue, will come out with its initial public offer (IPO) on April 5. On the block will be fresh issue of equity shares, aggregating up to Rs 400 crore and offer for sale (OFS) of 17,582,000 shares.
The price band of the issue is fixed at Rs 533-538. At the upper limit of the band, the issue size is Rs 1,345.26 crore.
The quota for employees has been fixed at 1,75,000 shares. They will be given a discount of Rs 53 per share.
If the issue sails through, the post issue implied market capitalisation will be around Rs 8,000 crore.
The company manufactures and sells a diverse range of wires and cables and their key products in the wires and cables segment are power cables, control cables, instrumentation cables, solar cables, building wires and flexible cables.
In 2009, the company diversified into the engineering, procurement and construction business, which includes the design, engineering, supply, execution and commissioning of power distribution and rural electrificationNSE 2.65 % projects. It also ventured into fast moving electrical goods (FMEG) company segment in 2014 and started offering products such as electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.
The company has 24 manufacturing facilities, including their two joint ventures with Techno Electromech and Trafigura, located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu.
During FY16-18, the total Income for the company rose at a compounded annual growth rate of 14.31 per cent. Ebitda and PAT during the same period climbed 23.82 per cent and 41.71 per cent, respectively.
Source: economictimes.indiatimes
