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Polycab India IPO is a book build issue of ₹1,345.26 crores. The issue is a combination of fresh issue of 0.74 crore shares aggregating to ₹400.00 crores and offer for sale of 1.76 crore shares aggregating to ₹945.26 crores.
Polycab India IPO bidding started from Apr 5, 2019 and ended on Apr 9, 2019. The allotment for Polycab India IPO was finalized on Apr 12, 2019. The shares got listed on BSE, NSE on Apr 16, 2019.
Polycab India IPO price band is set at ₹538.00 per share . The lot size for an application is 27. The minimum amount of investment required by an retail is ₹14,391 (27 shares). The lot size investment for sNII is 14 lots (378 shares), amounting to ₹2,03,364, and for bNII, it is 69 lots (1,863 shares), amounting to ₹10,02,294.
The issue includes a reservation of up to 1,75,000 shares for employees offered at a discount of ₹53.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Polycab India IPO RHP for detailed Information.
| IPO Date | April 5, 2019 to April 9, 2019 |
| Listing Date | April 16, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹533 to ₹538 per share |
| Issue Price Final | ₹538 per share |
| Lot Size | 27 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,50,22,067 shares (aggregating up to ₹1,345.26 Cr) |
| Fresh Issue | 74,40,067 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 1,75,82,000 shares of ₹10 (aggregating up to ₹945.26 Cr) |
| Employee Discount | ₹53.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 14,12,05,838 shares |
| Share Holding Post Issue | 14,86,45,905 shares |
Polycab IPO offers total 2,50,22,067 shares. Out of which 1,24,23,532 (49.65%) allocated to QIB, 49,69,413 (19.86%) allocated to QIB, 37,27,061 (14.90%) allocated to NII, 86,96,474 (34.76%) allocated to RII and 74,54,119 (29.79%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,24,23,532 (49.65%) | NA |
| − Anchor Investor Shares Offered | 74,54,119 (29.79%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 49,69,413 (19.86%) | NA |
| NII (HNI) Shares Offered | 37,27,061 (14.90%) | NA |
| Retail Shares Offered | 86,96,474 (34.76%) | 3,22,091 |
| Employee Shares Offered | 1,75,000 (0.70%) | NA |
| Total Shares Offered | 2,50,22,067 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Polycab India IPO opens on April 5, 2019, and closes on April 9, 2019.
| IPO Open Date | Fri, Apr 5, 2019 |
| IPO Close Date | Tue, Apr 9, 2019 |
| Tentative Allotment | Fri, Apr 12, 2019 |
| Initiation of Refunds | Mon, Apr 15, 2019 |
| Credit of Shares to Demat | Tue, Apr 16, 2019 |
| Tentative Listing Date | Tue, Apr 16, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Apr 9, 2019 |
Investors can bid for a minimum of 27 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1996, Mumbai based Polycab India Limited is engaged in the business of manufacturing, selling and distributing wires, cables and Fast Moving Electrical Goods (FMEG) products. Some of the FMEG products produced by the company are solar products, luminaires, LED lighting, electric fans, and switchgear.
The company entered into an engineering, procurement and construction ("EPC") business and FMEG business in 2009 and 2014, respectively. As on 31st March 2018, it has more than 3,300 authorized dealers and distributors, 100,000 retail outlets, 24 manufacturing facilities and 29 warehouses in India. All the sales and marketing activities of the company are handled through corporate office, three regional offices and 20 local offices located across India.
For Fiscal 2018, the company has market shares of nearly 18% of the organized wires and cables industry and around 12% of the total wires and cables industry in the country based on manufacturers realization.
In 2016, Polycab Wires Private Limited entered into a joint venture agreement with Trafigura to establish a manufacturing facility in Waghodia, India for producing copper wire rods. The plant is expected to start commercial operations by the end of Fiscal 2019 and produce around 258,620 MT of copper wire rods in a year. With full operational activities, the Ryker Plant will strengthen the backward integration and meet the demand of copper wire rods in future.
The company has exported products to 40 countries outside India and contributed 5.14% in total revenue for Fiscal 2018. From Fiscals 2016 to 2018, total income less excise duty, EBITDA and profit for the year of the company grew at a CAGR of 14.31% and 23.80% and 41.69%, respectively.
The future strategies of the company are:
• Make market presence more prominent in wires and cables sector
• Enhance and expand FMEG business
• Increase reach by expanding the distribution network
• Improve operational efficiency by investing in technology
• Increase brand awareness
The competitive strengths of the company are:
• Market leader in the respective segment in India
• Diverse customer base
• A range of electrical products
• Established distribution network
| Particulars | For the year/period ended (in Rs. 10 Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 53,859.07 | 44,432.58 | 45,788.08 | 38,747.40 | |
| Total Revenue | 55,067.00 | 69,239.17 | 60,470.08 | 57,142.41 | |
| Profit After Tax | 3,582.23 | 3,709.20 | 2,329.56 | 1,847.04 | |
The Company Polycab India IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Scheduled repayment of all or a portion of certain borrowings availed by the Company | 80.00 |
| 2 | To fund incremental working capital requirements of the Company | 240.00 |
| 3 | General corporate purposes | 63.47 |
[Dilip Davda] PIL is engaged in FMEG segment which is set for bright prospects ahead under power for all and LED lighting arena is in advance mode. The issue is reasonably priced and the company enjoys a niche place among lead players in the segment. It enjoys a proven track record of outperforming. Investors may consider an investment for medium to long term. Read detail review...
| Listing Date | April 16, 2019 |
| BSE Script Code | 542652 |
| NSE Symbol | POLYCAB |
| ISIN | INE455K01017 |
| Final Issue Price | ₹538 per share |
| BSE Listing Group | B |
Polycab India Ltd.
E-554,
Greater Kailash - II,
New Delhi 110 048
New Delhi, New Delhi
Phone: +91 11 2922 8574
Email: investor.relations@polycab.com
Website: http://polycab.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
Polycab India IPO is a main-board IPO of 2,50,22,067 equity shares of the face value of ₹10 aggregating up to ₹1,345.26 Crores. The issue is priced at ₹538 per share. The minimum order quantity is 27.
The IPO opens on April 5, 2019, and closes on April 9, 2019.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Polycab India IPO using UPI as a payment gateway. Zerodha customers can apply in Polycab India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Polycab India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Polycab India IPO opens on April 5, 2019 and closes on April 9, 2019.
Polycab India IPO lot size is 27, and the minimum amount required for application is ₹14,526.
You can apply in Polycab India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Polycab India IPO will be done on Friday, April 12, 2019, and the allotted shares will be credited to your demat account by Tuesday, April 16, 2019. Check the Polycab India IPO allotment status.
The Polycab India IPO listing date is on Tuesday, April 16, 2019.
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