Polycab India is the largest manufacturer of Wires and Cables in India and fast growing player in the Fast Moving Electrical Goods (FMEG) space. The Group is also in the business of Engineering, Procurement and Construction (EPC) projects. The Group owns 23 manufacturing facilities, located across the states of Gujarat, Maharashtra, Uttarakhand, and U.T. Daman.
| Bidding Dates |
|---|
| 05 Apr 2019 - 09 Apr 2019 |
| Subscription |
|---|
| 51.88x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,526 | 1 | 13 | 27 | 25.0 M | ₹533 - ₹538 | 83.17 % | ₹13333.7 M - ₹13458.7 M | RHP DOC |
Polycab IPO SUBSCRIPTION STATUS
09 Apr '19Polycab IPO overall subscription rate was 51.88 times the total available shares
Polycab IPO retail subscription rate was 4.5 times in the retail segment
Polycab IPO non-institutional investor subscription rate was 110.42 times in the non-institutional investor category
Polycab IPO Qualified Institutional Bidder subscription rate was 92.44 times the available shares for Qualified Institutional Bidder
Polycab IPO Employees subscription rate was 3.19 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
05 Apr 2019 (Day 1) | 0.27x | 0.08x | 1.96x | 0.46x |
08 Apr 2019 (Day 2) | 1.51x | 0.7x | 3.6x | 1.77x |
09 Apr 2019 (Day 3) | 4.5x | 110.42x | 92.44x | 3.19x |
Polycab FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 9MFY19 | 3,582.2 | 55,067.0 | 5,216.8 | 3,166.6 | 13.4% |
| 9MFY18 | 1,809.8 | 48,344.2 | -1,772.9 | -3,078.5 | 9.3% |
| FY18 | 3,709.2 | 69,239.2 | 3,631.9 | 1,795.2 | 11.7% |
| FY17 | 2,329.6 | 60,470.1 | 2,964.0 | 184.0 | 10.0% |
| FY16 | 1,847.0 | 57,142.4 | 2,208.3 | -255.4 | 10.0% |
Polycab IPO SUBSCRIPTION STATUS DETAILS
Polycab had 25.0 M shares on offer
Polycab IPO offer price was in the range ₹533 - ₹538
Polycab IPO minimum Investment was ₹14526
Polycab IPO issue size was ₹ 13333.7 M - ₹ 13458.7 M
Polycab had a minimum lot size of 27 Shares per application
Polycab NUMBER OF SHARES ON OFFER
Polycab IPO IMPORTANT DATES
| Issue Open Date | 05 Apr 2019 |
| Issue close Date | 09 Apr 2019 |
| Allotment Date | 12 Apr 2019 |
| Refund Date | 15 Apr 2019 |
| Demat Account Credit Date | 16 Apr 2019 |
| Listing Date | 18 Apr 2019 |
| Listing on Exchange(s) | NSE and BSE |
| Polycab Allotment Status | Exchange |
Polycab IPO subscription opened on 05 Apr 2019, and closed on 09 Apr 2019
IPO allotment for Polycab was finalized on Friday, 12 Apr 2019
IPO listing for Polycab was on NSE and BSE on Thursday, 18 Apr 2019
Polycab IPO LISTING GAINS
| Issue Price (adjusted) | 538.0 |
| Listing Open Price | 633.0 |
| Listing Close Price | 654.8 |
| Listing Gain% | 17.7% |
| Current Gain% | 1613.4% |
Polycab Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Polycab India Ltd. | 9218 | 137016.4 | 48.5 | 1.7 | 4.5 | 22.2 | 13 | 29120 | 28.8 | 2672 | 32.3 | 190.1 | 29.2 |
| KEI Industries Ltd. | 5600 | 53536.3 | 53.7 | 1.6 | 4.3 | 13.8 | 10.2 | 11906.3 | 21.4 | 918.4 | 31.9 | 104.3 | 34.4 |
| R R Kabel Ltd. | 2759.5 | 31211.5 | 51.4 | 0.6 | 2.9 | 19.1 | 10.6 | 9778.8 | 27.5 | 492.2 | 58 | 53.7 | 80.3 |
| Finolex Cables Ltd. | 1024.6 | 15670.9 | 22 | 11.9 | 2.5 | 11.7 | 10.2 | 6486.6 | 17.6 | 713.7 | 1.8 | 46.7 | 1.8 |
| Universal Cables Ltd. | 1411.2 | 4896.2 | 24.4 | 0.3 | 1.5 | 8.9 | 3.8 | 3051 | 25.5 | 163.1 | 82.5 | 57.7 | 71.7 |
| V-Marc India Ltd. | 316 | 4630.2 | 46.3 | 34.6 | 9.8 | 1800.5 | 100.1 | 6.8 |
Polycab IPO Reports
Polycab INFORMATION ON IPO ISSUE
About Polycab
Polycab India is the largest manufacturer of Wires and Cables in India and fast growing player in the Fast Moving Electrical Goods (FMEG) space. The Group is also in the business of Engineering, Procurement and Construction (EPC) projects. The Group owns 23 manufacturing facilities, located across the states of Gujarat, Maharashtra, Uttarakhand, and U.T. Daman.
Object of the Issue
- Scheduled repayment of all or a portion of certain borrowings availed by the Company;
- To fund incremental working capital requirements of the Company; and
- General corporate purposes.
Polycab - PROMOTERS
| Name |
|---|
| Inder T. Jaisinghani |
| Inder T. Jaisinghani |
| Ramesh T. Jaisinghani |
| Girdhari T. Jaisinghani |
Polycab Book Running Lead Manager
IIFL Holdings Limited
polycab.ipo@iiflcap.com
YES Securities (India) Limited
polycab.IPO@yessecuritiesltd.in
Polycab Registrar to the Offer
Karvy Computershare Private Limited
einward.ris@karvy.com
Polycab Strengths
Market leader in wires and cables in India
It is the largest wires and cables manufacturer in India, in terms of segment revenues, with a market share of approximately 18% of the organized wires and cables industry and approximately 12% of the total wires and cables industry in Fiscal 2018.
Diverse suite of electrical products with varied applications across a diverse customer base
Polycab manufactures and sells diverse portfolio of wires and cables and FMEG, which also gives the opportunity to cross-sell its products to our diverse base of customers
Strong distribution network
The distribution network across India also enables to roll out new products more quickly
Polycab Risks
Heavily dependent on the performance of the wires and cables market
The company is heavily dependent on the performance of the wires and cables market. Any adverse changes in the conditions affecting the wires and cables market can adversely impact business and operations
Exposed to foreign currency fluctuation risks
The company is exposed to foreign currency fluctuation risks, particularly in relation to its borrowings, import of raw materials and export of products, which may adversely affect operations, financial condition and cash flows.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 946.0 crore, of 17,582,000 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Inder T. Jaisinghani, Inder T. Jaisinghani, Ramesh T. Jaisinghani and Girdhari T. Jaisinghani.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 533.0 - 538.0.
The IPO application opens on Apr 05, 2019 and closes on Apr 09, 2019.
The minimum lot size for the IPO is 27. The maximum lot size for the IPO is 351.
For all category investors, the minimum application amount for this IPO is Rs. 14,526.0, the maximum value for this IPO is Rs 188,838.0.
This IPO will be allotted on Apr 12, 2019.
The refund will be credited to your account on Apr 15, 2019.
The allotted shares will be credited to your demat on Apr 16, 2019.
Polycab India Ltd.’s shares listed on the stock exchanges on Apr 18, 2019.