Traders said the scrip is trading at a Rs 5-8 discount to issue price in the grey market.

The IPO saw an overall 165.68 times subscription by end of third and final day of the bidding process.

RIIs had bade for 44 times their quota limit in the issue that was sold between November 22 and 26.

Traders said the scrip is trading at a Rs 65-67 premium in the grey market.

Some 13 IPOs raised Rs 10,717 crore from the primary market in Samvat 2075.

The IPO market has been going through a rather dry spell this year.

The Rs 475-crore IPO, which was sold in the price band of Rs 970-973, was subscribed 36.21 times.

PhillipCapital is expecting earnings CAGR of 19 per cent over FY19-21.

PhillipCapital has initiated coverage on the stock with a target price of Rs 718.

Polycab is the first issue of 2019 to see subscription of 10 times or more.

The issue received bids for 3,41,44,983 units against the total size of 1,76,37,777 shares.

By 5 pm, the issue received bids for 1,25,73,468 units against the total size of 1,76,37,777 shares.

For the week, Sensex edged up by 189 points or 0.5 per cent and Nifty 42 points, or 0.36 per cent.

At the upper end of the price band, the company is demanding 21.6 times FY18 earnings.

Post the IPO, the promoter shareholding will fall to 68.7 per cent from 78.9 per cent.

The price band of the issue is fixed at Rs 533-538. At the upper limit of the band, the issue size is Rs 1,345.26 crore.

IFC will sell 10,588,223 shares of the company through offer for sale (OFS).