Bumper Listing: Polycab India debuts with 18% premium at Rs 638

Shares of Polycab India, a wires and cables manufacturer, started off trade on the expected lines, at Rs 638 on the Bombay Stock Exchange, according to CNBC-TV18.

The stock opened with a 18 percent premium over its issue price of Rs 538.

At 10:05 hrs Polycab India was quoting at Rs 655.80, up Rs 117.80, or 21.90 percent on the BSE.

The Rs 1,345-crore public issue saw a massive subscription of 51.96 times during April 5-9, 2019

Analysts expected that the listing price could be in the range of 10-38 percent over its final issue price.

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