The company has set a price band of Rs 533-538 per equity share.
Cables, wires and electrical goods company Polycab's initial public offering (IPO) will open on April 5 and will close on April 9. The IPO includes a fresh issue of Rs 400 crore and an offer for sale of 17,582,000 equity shares of face value of Rs 10.
The company has set a price band of Rs 533-538 per equity share.
The company said that the proceeds from the fresh issue will be used for scheduled repayments of all or a portion of borrowings of the company. Further, these funds will also be used to fund incremental capital requirements of the company.
The global coordinators and book running lead managers are Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India and Edelweiss Financial Services. The book running lead managers are IIFL Holdings and YES Securities.
As part of the IPO, not less than 15 percent of the net offer is available for allocation on a proportionate basis to non-institutional bidders. Further, a minimum of 35 percent of the net offer will be available for retail individual bidders.
A discount of Rs 53 per equity share is being offered to eligible employees bidding in the employee reservation portion.
The largest player in the Rs 53,000 crore wires and cables business, Polycab also sells electrical goods like fans, LED lights and water heaters.
