Polycab India IPO was subscribed 1.18 times on Day 2

Qualified institutional buyers (QIBs) quota has been subscribed 2.11 times, non-institutional investors (NII) 0.52 times and retail 1.15 times so far, the NSE data added.

Apr 08, 2019 10:04 IST India Infoline News Service

Initial Public Offer, IPO
Polycab India Limited, a manufacturer and seller of wires & cables and fast moving electrical goods (FMEG, entered in 2014) under the ‘Polycab’ brand, was subscribed 1.18 times on the second day of the bidding process. The public issue bidding will close on April 9. The issue has received bids for 2,08,89,765 units against the total size of 1,76,37,777 shares, as per NSE data.

Qualified institutional buyers (QIBs) quota has been subscribed 2.11 times, non-institutional investors (NII) 0.52 times and retail 1.15 times so far, the NSE data added.

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 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".

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