RR Kabel IPO opens for today; check live subscription status

13 Sep 2023 , 12:06 PM

The RR Kabel initial public offering (IPO), open for subscription from Wednesday to Friday, aims to raise Rs 1,964 crore through the sale of its initial stake. Click here to subscribe the IPO.

In the first two hours of opening, the IPO garnered bids for 11,44,486 equity shares out of the total 1,33,17,737 available, representing 0.09 times subscription. Retail investors subscribed to 0.15 times, while non-institutional investors subscribed to 0.05 times of their portion. A reserved portion for employees received 0.27 times subscription.

RR Kabel is India’s fastest-growing consumer electric company from FY21 to FY23 and ranks as the fifth-largest player in the wires and cable segment with a 7% branded value market share as of FY23-end. Its revenue, EBITDA, and PAT have shown impressive CAGR growth rates of 31%, 16%, and 16%, respectively, from FY20 to FY23. Analysts project continued growth with CAGR estimates of 16%, 33%, and 36% for revenue, EBITDA, and PAT, respectively, from FY23 to FY26.

The IPO comprises a reduced fresh issue of Rs 180 crore (from Rs 225 crore previously) and an offer for sale (OFS) segment of up to 1.72 crore equity shares. The price band is set at Rs 938-1,035 per share, with a lot size of 14 shares. The offering allocates 50% to qualified institutional buyers, 15% to non-institutional investors, and 35% to retail investors.