Polycab shares fall after equity worth ₹1,695 crore changes hands in larger than expected block deal
Published on 25/09/2025 09:44 AM
Polycab shares fall after equity worth ₹1,695 crore changes hands in larger than expected block dealOn Wednesday, CNBC-TV18 reported, citing sources that promoter entities of the electrical goods company were expected to offload up to 0.81% of the company's equity via a block deal, with an estimated offer size of ₹887.6 crore.By Nimesh Shah September 25, 2025, 9:44:30 AM IST (Updated)2 Min ReadAs many as 22.73 lakh shares, or 1.51% equity, worth ₹1,695 crore of Polycab India Ltd. changed hands at ₹7,458 per share in a block deal window on Thursday, September 25.
However, on Wednesday, CNBC-TV18 reported, citing sources that promoter entities of the electrical goods company were expected to offload up to 0.81% of the company's equity via a block deal, with an estimated offer size of ₹887.6 crore.
Sources said the transaction's floor price was set at ₹7,300 apiece.
The sellers in the transaction included promoter group members — Inder T. Jaisinghani, Ramesh T. Jaisinghani, Ajay T. Jaisinghani, Girdhari Thakurdas Jaisinghani, Nikhil Ramesh Jaisinghani and Bharat Jaisinghani, as per sources.
The promoters will observe a 90-day lock-in period on further share sales post the block deals, the sources added.
As per the stock exchanges, the promoters held a total of 51.07% stake in the company at the end of the June quarter. Of this, Inder, Ramesh, Ajay T. Jaisinghani and Girdhari Thakurdas Jaisinghani held 12.04%, 8.7%, 9.55%, and 8.53% respectively.
Meanwhile, Nikhil Ramesh Jaisinghani and Bharat Jaisinghani held 3.39% and 3.47% stake, respectively.
Polycab India reported a 50% increase in its June quarter net profit at ₹600 crore from the previous year, above Street estimates of ₹518 crore. Its revenue increased 25.7% to ₹5,651 crore from the previous year.
Polycab's earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 47.1% at ₹858 crore while its EBITDA margins expanded to 14.5% from 13.5% in the year-ago period.
Polycab shares were down 1.1% at ₹7,450.5 apiece at 9.45 am on Thursday, September 25. The stock has gained 44.5% in the last six months.
Also Read: Motilal Oswal picks two PSU Banks to bet on, says this mid-sized lender stands outContinue ReadingFirst Published: Sept 25, 2025 8:51 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsblock dealPolycabPolycab Indiashare market today