Polycab shares fall after large block deal, promoter group likely seller

Polycab India block deal

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26 Aug, 2025 12:21

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Shares of wires and cables manufacturer Polycab India fell more than a percent on September 25 following a large block trade which likely saw 21.9 lakh shares change hands, or worth 1.5 percent of equity, more than what was initially reported, with promoter and promoter group family members seen as likely seller following an upsize of the deal.

Moneycontrol had reported on September 24 citing sources that the promoter and promoter group is targetting a block trade to offload a minority stake of around 0.8 percent to raise around $100 million, or Rs 887 crore. The trade data reported by Bloomberg has pegged the block size at nearly Rs 1,695 crore, nearly double of what was previously cited.

Block Trade 

A person familiar with the matter had told Moneycontrol that the floor price for the transaction was set at Rs 7,300 per share, which is at a discount of over 3 percent to the previous day's closing price. Another person said investment bank Jefferies is acting as the advisor on the proposed transaction. Moneycontrol also learnt that the promoter group will observe a 90-day lock-up on any further share sale following the block trade.

Polycab India Shareholding 

The company's latest shareholding pattern showed that promoters and promoter group held nearly 63 percent stake in Polycab as on June 30, 2025, with the remaining 37 percent held by public.

Among the promoters, the largest stake was held by company's Managing Director Inder Jaisinghani, with family members Ajay Jaisinghani, Ramesh Jaisinghani and Girdhari Thakurdas Jaisinghani held nearly 10 percent, 9 percent and 8.5 percent stake respectively, in the company.

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Polycab Share Price 

Polycab shares hit an intraday low of Rs 7,431 apiece after opening, and then recovered to trade with marginal losses at Rs 7,510 apiece, as of 10.10 am. The shares of the cable maker have gained more than 6 percent in the past one month, and nearly 46 percent in the past six months. The stock is up over 2 percent in 2025 so far.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.