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Market

Total issue size of Polycab IPO is Rs 1350 crore, says CEO Ramamurthi

Updated : April 02, 2019 10:30 AM IST

Polycab India is one of India’s largest manufacturers of wires and cables in terms of revenue and will soon list on the exchanges. Ramakrishnan Ramamurthi, chief executive of the company, spoke to CNBC-TV18 about the company's initial public offering (IPO).

"The total issue size is Rs 1,350 crore and about Rs 100 crore will be used for debt reduction," Ramamurthi said on Tuesday.

The current debt is around Rs 600 crore.

Talking about the business, he said, “Polycab has been in manufacturing cables and wires since 1973. We have a tremendous legacy.”

“Today in the organized sector in the country, we have about 18 percent market share and the entire industry which also has 34 percent in terms of unorganized sector, we have a market share of 12 percent,” he said.

On the margins front, Ramamurthi said, “The consolidated EBITDA in cable and wire part of the business is at about 12.7 percent. Wires tend to be a bit more profitable than the cables.”
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