RR Kabel IPO Day 2: Issue subscribed 46% so far; retail portion booked 60%

livemint.com:

IPO Subscription Status: The initial public offering (IPO) of RR Kabel has witnessed lukewarm interest from investors so far. RR Kabel IPO opened for subscription on September 13 and will close on Friday, September 15. The company has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

In the RR Kabel IPO, the company has reserved ₹10.8 crore worth shares for its employees. It is offering shares to employees at a discount of ₹98 per share to the final offer price. RR Kabel IPO has been subscribed 46% so far on Thursday, the second day of the bidding process.

The public issue received bids for 60.63 lakh shares against 1.33 crore equity shares on offer, according to data from the NSE till 12:25 pm. The retail investors’ portion was subscribed 60%, the NII portion was booked 69%, while the employee portion was subscribed 89%. The QIB quota received bids for 10,808 shares so far.

Also Read: RR Kabel IPO opens: GMP, price band, dates and other key details to know RR Kabel IPO price band is ₹983 to ₹1,035 per share. At the upper end of the price band, RR Kabel IPO issue size is ₹1,964.01 crore, which comprises fresh issue of equity shares worth ₹180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth ₹1,784 crore by the promoters and investors. In the OFS, TPG Asia VII SF Pte Ltd will offload 1.29 crore equity shares, while public shareholder Ram Ratna Wires will sell its entire shareholding of 13.64 lakh shares.