Polycab IPO - Grey Market, GMP & Reviews

IPO Details

Issue Date 05/04 - 09/04
Issue Size ₹1,346.00 Cr
Issue Price ₹533-538
Market Lot 27 Shares
Shares on Offer 17,582,000
Registrar
GMP ₹95
Kostak ₹900
Subject to Sauda N/A
Listing Date 18/04
Listing Price ₹644.45
Listing Gain% 19.79

About Polycab India Limited

Polycab is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods ("FMEG") under the "POLYCAB" brand. Apart from wires and cables, we manufacture and sell FMEG such as electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

Their promoters collectively have more than four decades of experience among them. Their Company was incorporated as 'Polycab Wires Private Limited' on January 10, 1996 at Mumbai as a private limited company under the Companies Act, 1956.

They manufacture and sell a diverse range of wires and cables and our key products in the wires and cables segment are power cables, control cables, instrumentation cables, solar cables, building wires, flexible cables, flexible/single multi core cables, communication cables and others including welding cables, submersible flat and round cables, rubber cables, overhead conductors, railway signaling cables, specialty cables and green wires. In 2009, we diversified into the engineering, procurement and construction ("EPC") business, which includes the design, engineering, supply, execution and commissioning of power distribution and rural electrification projects. In 2014, we diversified into the FMEG segment and our key FMEG are electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

We have 25 manufacturing facilities, including our two joint ventures with Techno and Trafigura, located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu. Three of these 25 manufacturing facilities are for the production of FMEG, including a 50:50 joint venture with Techno, a Gujarat-based manufacturer of LED products. In 2016, we entered into a 50:50 joint venture with Trafigura, a commodity trading company, to set up a manufacturing facility in Halol, India to produce copper wire rods (the "Ryker Plant"). We strive to deliver customized and innovative products with speed and quality service. Our production process is designed to ensure quality while delivering the ability to produce complex electrical products on short timeframes to meet our customers' needs. Most of our manufacturing facilities are accredited with quality management system certificates for compliance with ISO 9001, ISO 14001 and OHSAS 18001 requirements. Our central quality and test laboratory in Halol is accredited by NABL and our central test laboratory, also located in Halol, for all flexible wires and cables is approved by Underwriters Laboratories ("UL"). Certain of our products are also certified to be compliant with various national and international quality standards including Bureau of Indian Standards ("BIS"), British Approvals Service for Cables ("BASEC"), UL and international electrotechnical commission ("IEC").

Their research and development ("R&D") capabilities, emphasis on upgrading the technology used in our production process, customer-centric R&D efforts and our R&D center located in Halol, assist our sales and marketing team in understanding our customers' requirements. In addition, we have adopted automation systems in our manufacturing process such as the manufacturing excellence system ("MES"), which is an automated sensor base system for recording the actual consumption of raw materials in production, as well as enterprise resource planning ("ERP") systems. We have also adopted the Maynard Operation Sequence Technique ("MOST") to drive productivity and optimize capacity utilization.

They have an established supply chain comprising our network of authorized dealers, distributors and retailers. This network supplies our products across India. Our distribution network in India comprise over 3,100 authorized dealers and distributors and 29 warehouses as at March 31, 2018. We supply our products directly to our authorized dealers and distributors who in turn supply our products to over 100,000 retail outlets in India. We manage our sales and marketing activities through our corporate office, three regional offices and 20 local offices in various parts of India as at June 30, 2018. In addition, in Fiscal 2018, we exported our products to over 40 countries.

Company Financials

Particulars 31-Dec-18 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets (In ₹ Millions) 53,859.07 44,432.58 45,788.08 38,747.40
Total Revenue (In ₹ Millions) 55,067.00 69,239.17 60,470.08 57,142.41
Profit After Tax (PAT) (In ₹ Millions) 3,582.23 3,709.20 2,329.56 1,847.04

Polycab India Limited IPO Reviews

  • Rating: 
  • Recommendation:
  • We recommend subscription of Polycab IPO. The GMP for this IPO is Rs.90-95 per share with Kostak price Rs.900-Rs.1100.

Subscription Details

Date & Time QIB NII RII Total
Day 1 - Apr 05,2019 1.96 0.08 0.27 0.71
Day 2 - Apr 08,2019 3.60 0.70 1.51 1.94
Day 3 - Apr 09,2019 92.44 110.42 4.50 51.88

Allotment Status

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IPO Allotment Status

Polycab India Limited IPO FAQs

  1. When will Polycab India Limited IPO open?

    Polycab India Limited IPO will open on 05/04 and close on 09/04.

  2. What is the listing date of Polycab India Limited IPO?

    Polycab India Limited IPO will list on 18/04.

  3. What is the offer price of Polycab India Limited IPO?

    The offer price of Polycab India Limited IPO is ₹533-538.

  4. What is the lot size of Polycab India Limited IPO?

    The lot size of Polycab India Limited IPO is 27.

  5. What is the Grey Market Premium (GMP) price of Polycab India Limited IPO?

    The Grey Market Premium (GMP) price of Polycab India Limited IPO is ₹95.

  6. What is the Kostak price of Polycab India Limited IPO?

    The Kostak price of Polycab India Limited IPO is ₹900.

  7. What is the Subject to Sauda price for Polycab India Limited IPO?

    The Subject to Sauda price for Polycab India Limited IPO is Not Available at the moment.

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