Polycab-Redington sign strategic partnership for the Indian market
Commercial details of the partnership were not disclosed.
Redington India will become the national distributor for FMEG major Polycab India's end-to-end passive networking solutions, the latter said in an exchange filing.
Passive networking solutions are those parts of the computer network that are involved in data transmission in the network but do not change or affect the data. The passive network hardware includes cables (Optic fibre, coaxial), connectors, switchboards, clutches and plugs.
The partnership will enable Polycab's telecom unit, Polycab Telecom to meet its distribution objectives and strengthen its its passive networking portfolio, which includes end-to-end copper and fibre systems. It will look to capitalise on Redington's distribution network and operational efficiency.
Commercial details of the partnership were not disclosed.
Polycab's telecom business forayed into the passive networking business for private and public organisations in India in March 2021. This was done with a view to boost the company's prospects ahead of the 5G rollout across the country.
The segment targeted PSUs, BFSI, manufacturing, IT, healthcare and pharma companies that required a strong, future-ready digital infrastructure.
Polycab's management said that the partnership is of "huge significance" in view of the growing demand for connectivity and data services. Redington will also enable Polycab to engage with its large chain of value-added distributors (VADs) and drive business through them across cities of various tiers.
Redington's management also expressed confidence in fast-tracking and augmenting Polycab Telecom's reach in the Indian channel-market.
Shares of Polycab India are off the day's high, trading 0.2 percent higher at Rs 2,569.50. Redington India's shares are trading 1.1 percent higher at Rs 181.60.
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