Polycab will pitch for the IPO within a couple of weeks. Photo: ReutersMumbai: International Finance Corp.-backed electrical goods maker Polycab will soon file its draft prospectus for an initial public offering (IPO), said two people aware of the development. According to one of the people cited above, the company will pitch for the IPO within a couple of weeks. Some primary capital is also likely to be raised for capex and debt repayment purposes.”In 2008, IFC had invested around $120 million to pick up a 12% stake in Polycab. Polycab, Edelweiss and Kotak Mahindra Capital did not reply to email queries.

Source: Mint September 27, 2018 03:00 UTC