Tag: RR Kabel

RR Kabel shares made a strong debut on the stock exchanges on September 20, despite a sharp correction in the equity markets. The stock opened higher by 14 percent and closed at Rs 1,198, up 15.75 percent over the issue price of Rs 1,035. RR Kabel is the first company to list its shares on the exchanges within two days of the issue closing, using the new T+2 timeline introduced by the market regulator Sebi. The company had raised Rs 1,964.01 crore via its IPO, which was launched during September 13-15. RR Kabel operates in two broad segments: wires & cables, and FMEG (fast moving electrical goods). The company's strong debut is a positive sign for the IPO market, which has been subdued in recent months. It also reflects the investor interest in the wires & cables and FMEG sectors, which are expected to benefit from the government's focus on infrastructure development and electrification.

RR Kabel shares listed at a 14% premium over the issue price, but analysts are cautious on the upside for the stock, given its subdued financials and a large OFS portion.

Tata Motors, Biocon, RR Kabel, BHEL, Wipro, Prakash Industries, Blue Star, LTIMindtree, BL Kashyap and Sons, NBCC (India), HDFC Bank, JK Lakshmi Cement, Zydus Lifesciences, Sasken Technologies, DCM Shriram, Jindal Steel & Power, Union Bank of India, Central Bank of India, Indian Railway Finance Corporation, and ADF Foods announce various business updates, including new appointments, partnerships, product launches, and investments.

RR Kabel IPO is likely to list with a 10-15% premium over the issue price of Rs 1,035 on September 20, 2023. However, investors should be aware of the subdued financials and the high OFS portion before investing. Overall, the outlook for the RR Kabel IPO listing is positive, but investors should carefully consider the risks and rewards involved before investing.

RR Kabel, a consumer electrical products company, will be the first company to list its shares on the stock exchanges in two days after the IPO closes, instead of the three days mandated by Sebi. This is a result of the company preponing its listing date by four days and deciding to list shares on the bourses on September 20. The company's listing on the stock exchanges is expected to be keenly watched by investors, as it will be the first company to test the new T+2 listing timeline.

RR Kabel's IPO was subscribed 18.64 times on the final day of bidding. The QIB and HNI categories saw the highest subscription, while retail investors showed lower interest. The company is expected to list on the BSE and NSE on September 26.

The Rs 1,964-crore IPO of RR Kabel, backed by TPG, was subscribed 1.39 times on the second day of bidding. HNIs bid 2.1 times, QIBs 1.65 times, retail investors 95%, and employees 1.52 times. The company will use the proceeds to repay debts and for general corporate purposes. The IPO closes on September 15.

RR Kabel, a Gujarat-based wire & cables manufacturing company, has raised Rs 585.62 crore from anchor investors ahead of its public issue opening on September 13. The anchor book was subscribed 1.1 times. The price band for the IPO is Rs 983-1,035 per share. The IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of Rs 1,784 crore. The issue will close on September 15. The company will use the net proceeds to repay debt and for general corporate purposes.