Polycab and the other group companies are entirely owned by the Mumbai based Jaisinghani family. The key members of the family, who have been directly involved in the business include four brothers: Mr. Giridhar Jaisinghani, Mr. Inder Jaisinghani, Mr. Ramesh Jaisinghani and Mr. Ajay Jaisinghani. Mr. Inder Jaisinghani is the Chairman of the Board of Directors of the company.

IFC’s proposed investment entails an equity financing to help the company meet its growth plans in the medium term.

139.36 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	0.0
Equity	139.36

* These investment figures are indicative

The key project sites are Daman and Halol in India. The sites are well connected by road, and are located in industrial zones in each of these cities.

The project will have a strong development impact by addressing a supply shortage in electrical wires & cables in India, which are critical components used in power, infrastructure & other industrial sectors. The project will also help increase the local supply of a product that is expensive to import and more economically sourced locally. Therefore, the project will have significant impact on infrastructure development in India. The project will benefit from the management expertise of a strong sponsor who has significant technological know-how both in investment and production. The project will support faster consolidation in this highly fragmented industry by supporting the growth of an industry leader; and help improve standards across the industry as a whole. The consolidation of the cables industry will instill better standards of product quality and this will in turn have a significant bearing on reducing technical losses arising from usage of lower quality cables in power transmission and distribution.

IFC would be helping a successful company:

-Obtain funds with long term horizon essential for the successful implementation of the company’s strategy.
-IFC’s presence would provide an important stamp of approval particularly in Polycab’s future plans for expansion and access to additional sources of funding.
- Strengthen the local supply chain of wire and cables, which is critical for the continued development of the infrastructure and industrial sector in India.
- Support modern technologies that will allow Polycab to widen its product offering.
- Invest in a capital program that meets World Bank Group and country standards through IFC’s participation and expertise.

This is a category B project according to IFC''s environmental and social review procedure because a limited number of specific social and environmental impacts may result, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The following potential environmental, health, safety and social aspects of the project were analyzed:

- environment and social assessment, and management systems;
- labor and working conditions including management of employee occupational health and safety;
- pollution prevention and abatement (including management of emissions, discharges, hazardous materials, hazardous wastes and recycling and reuse of materials); and
- management of community environment, health, safety and security personnel related impacts both during construction and operation.

A summary discussion on the social and environmental aspects of relevance to this Corporate Investment including the company''s plans to address these impacts have been provided in the Environmental and Social Review Summary (ESRS) prepared by IFC and publicly disclosed at IFC’s website (www.ifc.org/projects).

Further, the company will locally disclose a summary of measures it proposes to implement so as to manage the social and environmental risks associated with its projects and operations and to meet IFC Performance Standard requirements, at its website (www.polycab.com) and at the following third party locations from 10.00 am to 5.00 pm.

Daman Municipal Corporation
Union Territory of Daman
India
Pin code: 396210

Panchayat Office
Halol
Gujarat
India
Pin code: 389352