Fast Moving Electrical Goods company "POLYCAB" to raise Rs13.44bn via IPO

Polycab India Ltd.

In 1964, Late Thakurdas Jaisinghani had established 'Sind Electric Stores', which dealt in various electrical products including fans, lighting, switches, and wires. Subsequently, the family business was managed from 1968 by Girdhari T. Jaisinghani, Inder T. Jaisinghani, Ajay T. Jaisinghani and Ramesh T. Jaisinghani being sons of Late Thakurdas Jaisinghani. The family founded a partnership firm in the name of 'Thakur Industries' under the Indian Partnership Act, 1932. Subsequently, in 1983, 'Polycab Industries', a partnership firm founded by Girdhari T. Jaisinghani, Inder T. Jaisinghani, Ajay T. Jaisinghani and Ramesh T. Jaisinghani in respect of a factory located at Halol for manufacturing/processing activity of 'PVC insulated wires and cables, copper and aluminum and bare copper wire.

In 1996, the Company was incorporated as 'Polycab Wires Private Limited' at Mumbai as a private limited company under the Companies Act, 1956. Later, the Company was converted into a public limited company on August 29, 2018 as "Polycab India Limited. In 1998, 'Polycab Industries' was subsequently converted into a private limited company as 'Polycab Industries Private Limited' and subsequently amalgamated with the Company in 2011.

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.

Key statistics:

• 25 manufacturing facilities, including 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, 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"). 
• Manufacturing facilities are accredited with quality management system certificates for compliance with ISO 9001, ISO 14001 and OHSAS 18001 requirements. 
• Central quality and test laboratory in Halol is accredited by NABL and central test laboratory, located in Halol, for all flexible wires and cables is approved by Underwriters Laboratories ("UL"). 
• Distribution network in India comprise over 3,100 authorized dealers and distributors and 29 warehouses as at March 31, 2018. 
• Supply products directly to authorized dealers and distributors who in turn supply products to over 100,000 retail outlets in India. 
• Manage sales and marketing activities through corporate office, three regional offices and 20 local offices in various parts of India. In addition, in Fiscal 2018, exported products to over 40 countries.

Website: Click here

Management:

Name	Designation
Inder T Jaisinghani	Chairman & MD
Ajay T Jaisinghani	Director
Ramesh T Jaisinghani	Director
Shyam Lal Bajaj	CFO
Sai Subramaniam Narayana	CS & Compliance Officer

IPO Snapshot: 

Particulars	Details
Dates	5-Apr-2019 to 9-Apr-2019
Face Value	Rs10/share
Price Band	Rs533 - Rs538/share
Discount	Nil
Bid lot	27 shares and multiples
Listing	NSE & BSE
Mode of Payment	ASBA (Mandatory)

Issue Details: 

Issue Size	Rs13,449.8mn
QIB	50%
NIB	15%
Retail	35%

Lead Managers	Axis Capital Ltd Citigroup Global Markets India Pvt. Ltd. Edelweiss Capital Ltd. IIFL Holdings Ltd. Kotak Mahindra Capital Company Ltd. Yes Securities (India) Ltd.

Registrar: Karvy Computershare Pvt. Ltd.

Allotment Status: Check Allotment status

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