RR Kabel IPO: Issue subscribed over 2 times on last day; check GMP, subscription status, other key details
IPO Subscription Status: The initial public offering (IPO) of wires & cables manufacturer RR Kabel has been fully subscribed so far as the issue received decent inventors’ participation. RR Kabel IPO opened on September 13 and will close today, September 15. RR Kabel is a prominent player in the Indian consumer electrical industry, specializing in wires & cables (W&C) and fast-moving electrical goods (FMEG) for over two decades.
In the RR Kabel IPO, the company has reserved not more than 50% of the shares for Qualified Institutional Buyers (QIB) and 15% for Non Institutional Investors (NII), while 35% of the offer is reserved for Retail Investors. The company has also reserved 1.15 lakh shares for its employees and is offering shares to them at a discount of ₹98 per share to the final offer price. RR Kabel IPO has been subscribed 2.17 times so far on Friday, the third and the last day of the bidding process.
The public issue received bids for 2.88 crore shares against 1.33 crore equity shares on offer, according to data from the NSE till 11:30 am. The retail investors’ portion was subscribed 1.24 times, the NII portion was booked 3.50 times, while the employee portion was subscribed 1.84 times. The QIB quota was subscribed 2.80 times so far.
Also Read: Yatra online IPO versus RR Kabel IPO versus SAMHI Hotels IPO versus Zaggle IPO: Which one should you buy? The ₹1,964.01 crore worth RR Kabel IPO opened for public subscription on September 13 and will close today. It 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. The RR Kabel IPO price band is ₹983 to ₹1,035 per share.
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