Polycab India Limited (the company), engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods (FMCG) under the “POLYCAB” brand, proposes to open its initial public offering (“IPO”) of Equity Shares on April 5, 2019.
The Bid/Offer Closing Date will be on April 9, 2019. The price band for the offer is from Rs533 to Rs538 per equity share.
The equity shares are proposed to be listed on BSE and NSE (the stock exchanges).
The IPO consists of a Fresh Issue of Equity Shares aggregating up to Rs4,000 million by the Company (“Fresh Issue”) and an Offer for Sale up to 1.75cr equity shares of face value of Rs10 each (“equity shares”) by the Investor Selling Shareholder, the Promoter Selling Shareholders, the Promoter Group Selling Shareholders and the Individual Selling Shareholders, collectively referred to as the “Selling Shareholders”. The Offer includes a reservation of up to 1.75 lakh equity shares for Eligible Employees (“Employee Reservation Portion”) (which shall not exceed 5% of the post-offer Equity Share capital of the Company).
The Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Offer are Kotak Mahindra Capital Company Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited and Edelweiss Financial Services Limited. The Book Running Lead Managers (“BRLMs”) to the Offer are IIFL Holdings Limited and YES Securities (India) Limited. Collectively, the GCBRLMs and the BRLMs are referred to as the "Lead Managers".
A discount of Rs53 per equity share is being offered to Eligible Employees bidding in the Employee Reservation Portion. The offer less the Employee Reservation Portion is referred to as the “Net Offer”. Bids can be made for a minimum lot of 27 equity shares and in multiples of 27 equity shares thereafter.