RR Kabel IPO price band set at ₹983-1,035 per share; check latest GMP, other key details
₹983-1,035 per share. At the upper end of the price band, RR Kabel aims to raise ₹1,964 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. Other selling shareholders in the OFS include promoters Mahendrakumar Kabra, Hemant Kabra, Sumeet Kabra and Kabel Buildcon Solutions, a part of the promoter group. 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 lot size is 14 equity shares and the minimum investment amount required by retail investors is ₹14,490. Also Read: EMS IPO: GMP, review, subscription status, other details in 10 points. Apply or not? The company is expected to fix the basis of allotment of IPO shares on September 21 and initiate refunds on September 22, while credit the shares in the demat accounts of eligible allottees on September 25.
RR Kabel shares are likely to be listed on September 26 on BSE and NSE. The company plans to utilise the fresh issue proceeds mainly for repaying debt amounting to ₹136 crore, and for general corporate purposes. The book running lead managers for RR Kabel IPO are Axis Capital, Citigroup Global Markets India, HSBC Securities & Capital Markets and JM Financial.
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