Polycab India Shares Drop After ₹1,695 Crore Block Deal, Promoters Likely Sellers

shares of

ia Ltd., a leading wires and cables manufacturer, fell over 1% in early trade following a significant block deal involving 22.73 lakh shares, or 1.51% of the company’s equity, valued at ₹1,695 crore. The transaction, executed at ₹7,458 per share, was nearly double the initially reported size of ₹887.6 crore for a 0.81% stake, as per sources cited by Moneycontrol on September 24. The promoter group, including key members like Inder T. Jaisinghani, Ajay T. Jaisinghani, Ramesh T. Jaisinghani, and others, were likely the sellers, with Jefferies acting as the transaction advisor. The block deal’s floor price was set at ₹7,300 per share, a 3.09% discount to the previous day’s closing price of ₹7,529. Following the trade, the promoters, who held a 51.07% stake as of June 2025, are subject to a 90-day lock-in period restricting further share sales. Polycab’s stock hit an intraday low of ₹7,431 before recovering marginally to ₹7,510 by 10:10 AM. Despite the dip, the stock has gained 6.06% over the past month and 46.20% in six months, reflecting strong market performance. Polycab reported robust Q1 FY26 results, with a 50% year-on-year net profit increase to ₹600 crore and revenue growth of 25.7% to ₹5,651 crore. The company’s EBITDA rose 47.1% to ₹858 crore, with margins expanding to 14.5%. The block deal, while sparking short-term volatility, does not alter the company’s strong fundamentals, driven by demand in the electrical goods sector. Investors are likely to monitor the impact of this promoter stake sale on Polycab’s future strategy and market perception.