InvestorQ : When is Polycab IPO coming and is it worth subscribing?
IPO
Mahima Roy made post

When is Polycab IPO coming and is it worth subscribing?

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Arusha Ray answered.
1 year ago


Polycab India Limited manufactures in the business of selling wires & cables, fast-moving electrical goods, and into Engineering, Procurement, and Construction (EPC). In EPC business Polycab undertakes power distribution and rural electrification projects. As per Financial Year 2018, the company is a market leader by holding approx. 19% market share of wires & cables industry in India in FY18. It has exported its products around 40 countries and thus contributing 5.14% of the total fiscal revenue. By focusing on all of these I personally feels it is worth subscribing.
Polycab is floating its shares to the public in IPO opens from today, 05 April 2019 and closes on 09 April 2019. The company is offloading Rs. 1,345 crore equity shares out of which 400 crore is a fresh issue while 1.7 lakhs is offer sale from promoter’s stake. The price range is between Rs 533–538 per share with face value of Rs 10 each. The minimum bid lot for is 27 equity shares. This means that a subscriber has to buy a minimum of 37 shares in one go. For their employee's company has been fixed at 1,75,000 shares at a discount price of Rs 53 per share.


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Niharika Kamble answered.
1 year ago


Polycab IPO got a warm and overwhelming response, as it has not only over-subscribed but also creates record over-subscription. The IPO is clearly worthy of investment. You will be shocked to know that as per data available with exchanges, Rs 1,345-crore issue was oversubscribed 52 times. If anchor investors’ part is to be removed, then to the IPO had received a bid for 91.59 crore equity shares against the issue size of 1.76 crore shares.

Qualified Institutional Buyers (QIBs) had oversubscribed 92 times while non-institutional investors had subscribed 110 times. The retail investors’ section is also over-subscribed by 4 times.


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riya Ranade answered.
1 year ago


If you an investor of Initial public offer (IPO) in the market than watching shares of a leading player in wire and cable, Polycab in news won't wonder you. The shares Polycab India Ltd., listed on 15th April 2019 got a very good response from the market.

The share subscription was open on 5-9 April, With its company's price band of ₹533-538 per share got subscribed around 52 times last week. Its shares got listed today (as on 16th April 2019), around Rs. 667 on Bombay Stock Exchange and the National Stock Exchange (ref- IndiaInfoline.com).

The company successfully raised a total operating cash flow of approx. ₹1,400 crore through the IPO opening (FY19-21). This fund will use the fund to pay off the company's debt in 2-3 years.

After the good response of IPO opening, the company added a consistent increase in sales proportion of FMEG will re-rate the stock in the long term.