Polycab India announces launch of initial public offering
03/04/2019 12:50
Polycab India Ltd. has announced public offering of 42778934 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 528.00 per share. The gross proceeds of the issue are expected to be Rs 2,30,150.66 lakhs.

The company's initial public offer (IPO) will open on 05 April 2019 and is expected to close on 09 April 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 533.00-538.00 per share.

The IPO includes a fresh Issue of 42778934 Equity Shares of the Company at an price of Rs 538.00 per Equity Share. The company has fixed the minimum bid lot for the issue at shares with bids in multiples of .

Polycab India Ltd. anticipates using the proceeds of the issue for Scheduled repayment of all or a portion of certain borrowings availed by the Company, To fund incremental working capital requirements of the Company and General corporate purposes.

Axis Capital Ltd.,Edelweiss Financial Services Ltd.,IIFL Holdings Limited,Citigroup Global Markets India Private Limited,Yes Securities (India) Ltd.,Kotak Mahindra Capital Company Limited as lead manager(s) & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.