RR Kabel IPO Day 1: Subscription Status, GMP & Other Details
The initial day of the RR Kabel IPO has seen a subscription rate of 12%, reflecting a relatively sluggish response from investors. The RR Kabel IPO, which commenced its subscription phase on Wednesday, September 13, is set to conclude on Friday, September 15.
The RR Kabel IPO has garnered less enthusiasm from non-institutional investors (NIIs), retail investors, and employees on its first day. Notably, the Qualified Institutional Buyers (QIBs) segment has yet to witness any subscriptions.
RR Kabel IPO Subscription by Segments:
- Retail investors have subscribed to 19% of the allotted shares.
- Non-institutional investors (NIIs) have shown a subscription rate of 10%.
- Employees have displayed the most interest, with a subscription rate of 34%.
The IPO allocation is structured as follows: up to 50% of shares are earmarked for Qualified Institutional Buyers (QIBs), no less than 15% for Non Institutional Investors (NIIs), and a minimum of 35% for Retail Investors.
As part of the RR Kabel IPO, the company has set aside ₹10.8 crore worth of shares for its employees, offering them at a discounted rate of ₹98 per share compared to the final offer price.
RR Kabel IPO Subscription Status Update:
As of 13:15 IST, the RR Kabel IPO has received bids for 16,18,148 shares out of the total 1,33,17,737 shares on offer, according to data from the BSE.
Here’s the breakdown by segments:
- Retail investors have submitted bids for 12,86,922 shares out of the 66,01,237 shares available to them.
- Non-institutional investors (NIIs) have expressed interest in 2,91,816 shares out of the 28,29,102 shares allocated to them.
- Qualified Institutional Buyers (QIBs) have bid for 980 shares out of the 37,72,137 shares reserved for them.
- Employees have bid for 40,460 shares from the 1,15,261 shares available to them.
Also Read: RR Kabel IPO Subscription Status (Live Data)
RR Kabel IPO Details:
At the upper end of the price range, the RR Kabel IPO aims to raise ₹1,964.01 crore. The IPO consists of a fresh issue of equity shares worth ₹180 crore and an offer for sale (OFS) of 1.72 crore equity shares valued at ₹1,784 crore by the promoters and investors. In the OFS, TPG Asia VII SF Pte Ltd plans to sell 1.29 crore equity shares, while the public shareholder, Ram Ratna Wires, will divest its entire shareholding of 13.64 lakh shares.
Other selling shareholders in the OFS include promoters Mahendrakumar Kabra, Hemant Kabra, Sumeet Kabra, and Kabel Buildcon Solutions, a part of the promoter group.
The company intends to utilize the proceeds from the fresh issue primarily for debt repayment, amounting to ₹136 crore, and for general corporate purposes.
RR Kabel IPO GMP:
The grey market premium (GMP) for RR Kabel IPO is currently at +150, mirroring the trend observed in the previous trading session. This suggests that RR Kabel IPO shares are trading at a premium of ₹150 in the grey market as of Wednesday, according to topsharebrokers.com.
Also Read: RR Kabel IPO GMP Today ( Grey Market Premium )
Considering the upper end of the IPO price band and the existing premium in the grey market, the estimated listing price for RR Kabel IPO shares stands at ₹1,185 apiece, representing a 14.49% increase over the IPO price of ₹1,035.
About RR Kabel:
R R Kabel Limited is a manufacturer of electrical components, specializing in a wide range of cables, including control, power, instrumentation, silicon, auto, fire, security, and application-specific cables. The company proudly serves customers on a global scale.
For more of the Latest News, Click Here
