RR Kabel to list today; first company to debut within 2 days of IPO closure
R R Kabel, which concluded its Initial Public Offering (IPO) on Friday, is set to list on Wednesday — becoming the first company to debut on Dalal Street within two days of issue closing.
While Ratnaveer Precision Engineering was the first company to list under the T+3 regime, RR Kabel will become the first company to list in the T+2 timeline — the second working day after the issue closing on September 15.
Capital markets regulator Sebi in August halved the timeline for listing of shares on stock exchanges after the closure of IPOs to three days (T+3) from six days (T+6).
The new listing timeframe will be voluntary for all public issues opening on or after September 1 and mandatory for all issues after December 1, 2023.
The reduction in timelines for listing and trading of shares will benefit both issuers as well as investors.
Issuers will have faster access to the capital raised, thereby enhancing the ease of doing business.
«Trading members of the exchange are hereby informed that effective from Wednesday, September 20, the equity shares of R R Kabel Ltd shall be listed and admitted to dealings on the exchange in the list of 'B' Group of Securities,» according to a circular issued by the BSE.
RR Kabel's IPO comprised a fresh issue size of ₹180 crore and an offer for sale segment of up to 1.72 crore equity shares.
