Polycab India IPO
Polycab India IPO — date, price band, lot size & details 2019
Polycab India listed on 16 Apr 2019 at ₹633, 17.7% above the ₹538 issue price.
Polycab India makes and sells wires and cables and fast moving electrical goods such as fans, LED lighting and switchgear. Its total income was Rs 6,986.14 crore in FY2018.
Stock price
Polycab India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 05 Apr 2019
- Close 09 Apr 2019
- Allotment 12 Apr 2019
- Refund/credit 15 Apr 2019
- Listing 16 Apr 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 5 to 9 Apr, 2019 |
|---|---|
| Price Band | ₹533 – ₹538 |
| Face Value | ₹10 |
| Lot Size | 27 Shares |
| Issue Size | ₹1345.26 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 53.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,526 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 27 shares at the ₹538 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 27 | ₹14,526 |
| Retail (max) | 13 | 351 | ₹1,88,838 |
| S-HNI (min) | 14 | 378 | ₹2,03,364 |
| S-HNI (max) | 68 | 1,836 | ₹9,87,768 |
| B-HNI (min) | 69 | 1,863 | ₹10,02,294 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 5,747.35 crore in FY2016 to Rs 6,986.14 crore in FY2018.
- 02Profit after tax doubled from Rs 184.70 crore in FY2016 to Rs 370.92 crore in FY2018.
- 03EBITDA rose from Rs 523.88 crore in FY2016 to Rs 803.15 crore in FY2018.
- 04Profit after tax was Rs 358.22 crore in nine months to December 2018.
Risks · 5
- 01Copper and aluminium prices drive its costs; total assets were Rs 5,385.91 crore.
- 02Rs 240.00 crore of the issue was for working capital, which is heavy in cables.
- 03Fans, lighting and switchgear are crowded markets with strong brands; profit was Rs 232.96 crore in FY2017.
- 04Rs 945.26 crore of the Rs 1,345.26 crore issue went to selling shareholders.
- 05Promoter holding fell from 78.94% before the issue to 68.69% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Polycab India offer document.
| Metric | 31 Dec 2018 | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|---|
| Assets | 5,385.91 | 4,443.26 | 4,578.81 | 3,874.74 |
| Total Income | 5,561.05 | 6,986.14 | 6,122.54 | 5,747.35 |
| Profit After Tax | 358.22 | 370.92 | 232.96 | 184.70 |
| EBITDA | 743.79 | 803.15 | 555.15 | 523.88 |
| Reserves and Surplus | 2,581.67 | 2,212.36 | 2,036.76 | 1,855.60 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹383.47 Cr of the issue is earmarked to named objects.
Polycab India IPO Anchor Investors
25 anchor investors across 17 fund houses committed ₹401.01 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its electrical goods include solar products, luminaires, LED lighting, electric fans and switchgear.
It also has an engineering, procurement and construction business.
The IPO was Rs 1,345.26 crore, with Rs 400.00 crore of fresh issue and Rs 945.26 crore of offer for sale, at Rs 538, the top of the Rs 533 to Rs 538 band. The fresh money was for repaying borrowings and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Polycab India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
YES Securities (India) Ltd
17 issues handledBest listing: IRCTC (+95.6%). Weakest: Bharat Dynamics (-13.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Polycab India?
The current Grey Market Premium is ₹77.5, or 14% over the issue price.
What is the Polycab India IPO price band?
₹533 to ₹538, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 April 2019, with listing on 16 April 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
