Of the overall amount being raised, the company plans to retain Rs. 500 cr. It will use Rs. 300 cr of the proceeds towards working capital, Rs. 100 cr for repaying short-term debt.

February 11, 2019

Polycab to Raise Rs. 2500 Cr — Of Rs. 2500 cr. raised, Polycab will retain Rs. 500 cr. for working capital, short-term debt repayment and general purposes.

Polycab India plans to raise Rs. 2500 crore by issuance of fresh equity and an offer-for-sale by existing investors and promoters through an IPO.

Of the overall amount being raised, the Polycab plans to retain Rs. 500 crore. The company will use Rs. 300 crore of the proceeds towards working capital, Rs. 100 crore for repaying short-term debt, and the rest for general corporate purposes.

IFC, an existing investor in Polycab, will sell 7.5 percent of its 15 percent holding while the promoters will dilute about 10.12 percent, accounting for 17.62 per cent dilution through OFS.