Polycab India Limited which had tapped the capital markets with its offer for sale of 1,75,82,000 equity shares and a fresh issue of Rs 400 crs in a price band of Rs 533-538 received overwhelming support. The issue was subscribed over 52 times.

The company had earlier allotted 74,54,119 equity shares at Rs 538 to 20 Anchor investors comprising of 25 entities.

The QIB portion was subscribed 93.09 times, HNI portion was subscribed 110.74 times, Retail portion was subscribed 4.66 times and Employee quota was subscribed 3.20 times. The overall issue was subscribed 52.16 times. There were 12,24,608 application forms making the retail portion subscribed 3.8 times on basis of forms.

The cost of interest has varied from 7% to 8% for this issue. Taking an average of 7.5% for 7 days, the same works out to Rs 85-86 Rs per share. This effectively means that the share must list and trade at a price of Rs 624 and higher for a breakeven to be achieved by the leveraged HNI.

Full details of the subscription are given below: –