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Polycab India makes strong debut; settles 22% higher over issue price

The company's Rs 1,345-crore initial public offering (IPO) had got an overwhelming response and was subscribed 52 times

Polycab India makes strong listing; debuts at 18% premium over issue price
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SI Reporter Mumbai
Polycab India shares made a strong stock market debut, ended at Rs 655, a 22 per cent higher against its issue price of Rs 538 per share on the BSE.

The stock of wires & cables manufacture opened at Rs 633, up 18 per cent against issue price on the BSE. It touched high of Rs 668 and a low of Rs 630 on the National Stock Exchange (NSE) in intra-day trade on Tuesday. A combined 25 million equity shares changed hands on the counter on the NSE and BSE today.

“The company has shown strong listing gain