IFC-backed Polycab preps Indian IPO

Cable 230x150
By Jonathan Breen
01 Nov 2018

Wire and cable manufacturer Polycab India is planning an IPO of new and existing stock, as backer International Finance Corp looks to cash in part of its stake.

The company is floating a mix of Rp5bn ($67.8m) in primary equity and 24.9m secondary shares, representing 17.6% of its existing equity. IFC, the private investment arm of the World Bank, is providing 10.6m shares for Polycab’s IPO. The stock is half of the 15% stake it bought ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial