Polycab India successfully raise Rs 401 cr through public offer

Ahead of its initial public offer, Polycab India on Thursday raised Rs 401 crore from 25 anchor investors, according to a release. The company manufactures and sells wires and cables as well as fast moving electrical goods.

The initial share sale would open on Friday and close on April 9. As per the release, the company has allotted more than 74.5 lakh shares to 25 anchor investors. The scrips were sold at Rs 538 apiece, thereby mopping up around Rs 401 crore.

The price band for the offer is Rs 533 to 538 per share.