Polycab India, a leading wires and cables manufacturer, saw its share price dip over 1% on September 25 after a large block deal involving 21.9 lakh shares, or 1.5% of its equity, worth Rs 1,695 crore. The transaction, likely led by the promoter group including the Jaisinghani family, marks a significant stake sale in the company.
Initially, Moneycontrol reported on September 24 that the promoters planned to offload a 0.8% stake to raise $100 million (Rs 887 crore) at a floor price of Rs 7,300 per share, a 3% discount to the previous day’s closing price. However, Bloomberg data revealed the deal size nearly doubled to Rs 1,695 crore, indicating an upsized transaction. Investment bank Jefferies acted as the advisor for the deal. A source familiar with the matter confirmed that the promoter group will observe a 90-day lock-up period, barring further share sales during this time.
As of June 30, 2025, Polycab’s promoters and promoter group hold a 63% stake in the company, with the remaining 37% owned by public shareholders. Among the promoters, Managing Director Inder Jaisinghani holds the largest share, followed by family members Ajay Jaisinghani (10%), Ramesh Jaisinghani (9%), and Girdhari Thakurdas Jaisinghani (8.5%). This strong promoter holding reflects the family’s significant control over the company.
On the trading front, Polycab shares hit an intraday low of Rs 7,431 after opening but later recovered to trade at Rs 7,510 by 10:10 am on September 25. Despite the day’s decline, the stock has shown robust performance, gaining 6% over the past month and an impressive 46% in the last six months. In 2025, the stock is up by more than 2%, signaling sustained investor confidence in Polycab’s growth in the wires and cables sector.
The block deal highlights the promoter group’s strategy to liquidate a portion of their stake while maintaining majority control. Polycab’s strong market position and steady stock performance continue to make it a key player in India’s manufacturing landscape, even as such transactions draw investor attention.
