Last day to subscribe RR Kabel IPO; check live subscription details here

15 Sep 2023 , 11:36 AM

The initial public offering (IPO) of RR Kabel Ltd, a manufacturer of wires and cables, is set to conclude today, Friday, September 15, marking the final day of the bidding process. On the second day of the bidding, which occurred on Thursday, the RR Kabel IPO exhibited a subscription rate of 1.39 times, with bids received for 1.85 crore shares against the available 1.33 crore shares. Click here to subscribe the IPO.

As of 11:30 AM on Friday, the non-institutional investor segment had garnered a robust subscription rate of 3.69 times. The category dedicated to retail individual investors (RIIs) secured a subscription rate of 1.25 times, while qualified institutional buyers (QIBs) showed strong interest with a subscription rate of 2.80 times. The portion allocated for employees reached a subscription rate of 1.85 times by this time.

The RR Kabel IPO was launched for public subscription on Wednesday, September 13, and is scheduled to conclude today, September 15. The IPO’s price range is set at Rs 983-1,035 per share, with the upper end of the price band potentially yielding up to Rs 1,964 crore.

Earlier this week, RR Kabel Ltd, supported by TPG, revealed that it had raised Rs 585.62 crore from anchor investors.

The IPO allotment is planned for September 21, with the listing on both the BSE and NSE exchanges scheduled for September 26.

RR Kabel operates five manufacturing units, including cable and wire facilities in Waghodia, Gujarat, and Silvassa in the Union Territory of Dadra and Nagar Haveli. Additionally, the company has a commercial lighting plant in Bengaluru, along with fast-moving electrical goods (FMEG) units in Roorkee, Uttarakhand, and Gagret, Himachal Pradesh. Notably, approximately 88% of the company’s revenue is derived from cables and wires.