Polycab India ends 21% higher over issue price on stock market debut

This was the best listing-day performance for a company since HDFC Asset Management Company's stock market debut in August 2018

Shares of Polycab India, a leading manufacturer of electric wires and cables, ended 21 per cent higher over its issue price during its stock market debut on Tuesday. The stock ended at ~653, compared to the initial public offering (IPO) price of ~538 per share. The stock touched a high of ~668 and a low of ~630 on the National Stock Exchange, with nearly ~1,500 crore worth of shares changing hands.

This was the best listing-day performance for a company since HDFC Asset Management Company’s (AMC’s) stock market debut in August 2018. Shares of the asset manager had soared nearly 60