NEW DELHI: Polycab India's Rs 1,345 crore initial public offering (IPO) on Tuesday received bids for 52 times on Day 3 of the bidding process.By 7.30 pm, the issue received bids for 91,63,83,591 units against the total size of 1,76,37,777 units, data available with NSE showed. This has made it the first issue of 2019 to see subscription of 10 times or more. The IPO is the biggest hit since HDFC AMC IPO which received a staggering 82.99 times bids in July last year.QIB quota was subscribed 92.44 times, NII 110.42 times and retail 4.61 times.Excluding Polycab offering, a total of 6 issues have hit the primary market this year. Metropolis Healthcare had been the most successful so far with 5.83 times subscription.At the upper limit, Polycab India IPO is demanding 21.6 times FY18 earnings. The company has raised Rs 401 crore from 25 anchor investors.

Source: Economic Times April 09, 2019 09:55 UTC