HNIs bet on Polycab IPO Bets worth Rs 22,000 crore by wealthy investors are riding on Polycab India’s initial public offering (IPO). The high net worth individual (HNI) portion of the issue has garnered over 110 times subscription. Investment bankers say the higher than anticipated oversubscription has increased the breakeven costs for leveraged investors.
They say HNIs stand to make money on the IPO only if Polycab shares list at a premium of 15 per cent. Grey market premiums suggest that the stock could list 20 per cent higher. However, given the volatile market condition, ...
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