RR Kabel IPO: price band ₹983-1,035/share; latest GMP & key details

RR Kabel IPO: price band ₹983-1,035/share; latest GMP & key details

RR Kabel IPO Price Band, Latest GMP & Other Details

The much-anticipated RR Kabel IPO is gearing up for public subscription, commencing on September 13, with closure set for September 15. Preceding this, an anchor book will be accessible for a single day on September 12.

RR Kabel IPO Price Band:

RR Kabel has established a price band of ₹983-1,035 per share for its IPO. At the upper limit of this range, the company is poised to raise an impressive ₹1,964 crore.

This IPO encompasses a fresh equity share issue amounting to ₹180 crore alongside an offer for sale (OFS) comprising 1.72 crore equity shares valued at ₹1,784 crore. Promoters and investors are responsible for the OFS, with TPG Asia VII SF Pte Ltd looking to divest 1.29 crore equity shares, and public shareholder Ram Ratna Wires parting with its entire shareholding of 13.64 lakh shares.

RR Kabel IPO Promoters:

Additionally, other selling shareholders in the OFS encompass promoters Mahendrakumar Kabra, Hemant Kabra, Sumeet Kabra, and Kabel Buildcon Solutions, a constituent of the promoter group.

As part of the RR Kabel IPO, the company has reserved ₹10.8 crore worth of shares for its employees, extending them an attractive discount of ₹98 per share from the final offer price.

RR Kabel IPO Lot Size:

The RR Kabel IPO presents a lot size of 14 equity shares, requiring a minimum investment of ₹14,490 for retail investors.

Allotment of IPO shares is expected to be determined on September 21, with refunds commencing on September 22, and shares credited to eligible allottees’ demat accounts by September 25.

RR Kabel IPO Listing Exchange:

The anticipated listing of RR Kabel shares is set for September 26 on both BSE and NSE.

RR Kabel IPO Registrar:

Link Intime India serves as the official registrar for the RR Kabel public issue.

RR Kabel IPO GMP Today:

Market observers report today’s Grey Market Premium (GMP) for RR Kabel IPO at ₹40 per share. This indicates that RR Kabel shares are trading at a premium of ₹40 over their issue price, translating to a premium of 3.86% compared to the issue price of ₹1,035 per share.

Taking the GMP into account, the estimated listing price for RR Kabel shares stands at ₹1,075 each.

Utilization of Proceeds:

The company intends to primarily utilize the proceeds from the fresh issue to repay debt amounting to ₹136 crore, in addition to supporting general corporate purposes.

Book Running Lead Managers:

Leading the RR Kabel IPO as book running lead managers are Axis Capital, Citigroup Global Markets India, HSBC Securities & Capital Markets, and JM Financial.

About RR Kabel:

RR Kabel specializes in consumer electrical products designed for residential, commercial, industrial, and infrastructure applications. The company operates within two main segments: wires & cables and FMEG (fast-moving electrical goods), including fans, lights, switches, and appliances.

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