RR Kabel IPO opens today: GMP, review, other key details. Should you subscribe?
₹983 to ₹1,035 per equity share of face value of ₹5 each. On Tuesday, September 12, RR Kabel has raised ₹585 crore from anchor investors. RR Kabel IPO 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 is one of the top companies in the fast-moving electrical goods (FMEG) and wires and cables sectors of the consumer electrical industry, with more than 20 years of history in the country.
As per the RHP the listed industry peers of the company are Havells India Ltd, Polycab India Ltd, KEI Industries Ltd, Finolex Cables Ltd, V-Guard Industries Ltd, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Ltd. "We are the fastest growing consumer electrical company among our peers in India, growing at a compound annual growth rate (CAGR) of 43.4% between Fiscal 2021 and Fiscal 2023," said the company in its RHP. RR Kabel IPO's floor price is 196.60 times and the cap price is 207.00 times the face value of the equity shares.
At the upper end of the price band, RR Kabel IPO aims to raise ₹1,964.01 crore from the IPO. The IPO 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.
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