Mumbai: The initial public offering (IPO) of Polycab India Ltd, the International Finance Corp.-backed wires, cable and consumer electrical goods manufacturer, was subscribed 52 times on the final day of the share sale. Polycab had launched its IPO on 5 April to raise ₹1,346 crore, with shares priced in the range of ₹533-538 apiece. The Polycab IPO is now the most subscribed so far this year. The Polycab IPO is a mix of primary and secondary share sale. Polycab manufactures and sells a diverse range of wires and cables, including power cables, control cables, instrumentation cables, solar cables, building wires, flexible cables and communication cables.

Source: Mint April 09, 2019 13:07 UTC