RR Kabel IPO Day 2: Check live subscription details

14 Sep 2023 , 11:41 AM

The RR Kabel Ltd’s initial public offering (IPO) commenced its subscription phase on Wednesday, September 13, and is set to run until Friday, September 15. Interested investors can participate in this three-day bidding process by following the provided link.

On the first day of the subscription, the IPO witnessed a 25% subscription rate. 

By the second day, at 11:30 AM, the offering had garnered bids for 55,59,708 equity shares out of the total 1,33,17,737 shares available for subscription, representing a 42% subscription rate. Notably, the retail investors exhibited a strong interest, with their portion being subscribed at 56%. Non-Institutional Investors (NII) demonstrated a keen interest as well, with bids amounting to 62% of the available shares. Furthermore, the segment reserved for employees displayed a high subscription rate of 83%. 

However, it’s noteworthy that the Qualified Institutional Buyers (QIB) portion has not received any subscriptions at this stage.

The company has stipulated a price range of Rs 938 to Rs 1035 per share for the IPO, and investors have the flexibility to bid for shares in lots of 14 and in multiples thereof.

The IPO’s allotment process is scheduled for September 21, with the anticipated listing on both the BSE and NSE stock exchanges slated for September 26.

RR Kabel Ltd operates five manufacturing units, including cable and wire units in Waghodia, Gujarat, and Silvassa in the Union Territory of Dadra and Nagar Haveli, as well as a commercial lighting facility in Bengaluru. Additionally, the company operates fast-moving electrical goods (FMEG) units in Roorkee, Uttarakhand, and Gagret, Himachal Pradesh. A noteworthy point is that a substantial 88% of the company’s revenue is generated from the cables and wires segment.