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Polycab India signs agreement with Renuka Investments and Finance

03 Nov 2021 Evaluate

Polycab India (PIL) has signed an agreement with Renuka Investments and Finance, a wholly owned subsidiary of Hindalco Industries, to divest the entire equity shareholding in Ryker Base (Ryker). Ryker was a wholly owned subsidiary of the company. The enterprise value is pegged at Rs 323 crore. Post debt and working capital adjustments, the sale consideration is likely to be around Rs 167.5 crore.

Consolidated debt in PIL financials is likely to reduce by about Rs 157.5 crore which pertains to external commercial borrowing and working capital loan of Ryker. The transaction is expected to be completed by December end and is subject to fulfilment of certain conditions by both parties as well as applicable customary approvals.

Polycab India is the largest cables & wires manufacturer. It is also the fastest growing company in the Indian cable industry with consistent growth. The company also in the business segment of EPC, Cables.


Polycab India Share Price

8184.95 284.50 (3.60%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Polycab India 8184.95
KEI Industries 4841.10
RR Kabel Ltd. 1475.45
Finolex Cables 943.60
Precision Wire India 377.20
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