Polycab India IPO Subscribed 71% On Day 1

Polycab India's IPO or initial public offer, which opened for subscription on Friday, was subscribed more than 71 per cent on the first day of issue. The Polycab IPO worth up to Rs. 1,346 crore comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) of up to Rs. 946 crore by its promoters. Polycab India is offering more than 17.63 crore shares under the offer for sale. The company aims to utilise the proceeds towards repa...