New Delhi: On the last day of bidding, the wires and cables maker RR Kabel Ltd’s initial public offering (IPO), which was open for subscription from September 13 to September 15, received a respectable 18.69 times subscription. 1,33,17,737 equity shares were made available in the Rs 1,964-crore IPO.
RR Kabel IPO: Allotment Date
The allotment of RR Kabel IPO shares will happen on September 21.
RR Kabel IPO: Listing Date
On September 26, its shares will be listed on the BSE and NSE.
The non-institutional investor quota for the RR Kabel IPO was oversubscribed by 13.23 times, compared to 2.13 times for retail individual investors (RIIs) and 52.26 times for qualified institutional buyers (QIBs). On Wednesday’s opening day, only 25 percent of the IPO’s subscriptions were filled.
RR Kabel IPO GMP
Market watchers report that RR Kabel is currently retailing 115 rupees more expensively on the black market. The grey market premium, or GMP, of Rs. 115 is approximately 11 percent higher than the share’s maximum issuance price of Rs 1035.
This indicates that the grey market anticipates an 11 percent listing gain from the public issuance. Investors’ willingness to pay more than the issue price is indicated by the term “grey market premium.”
RR Kabel IPO: Fresh Issue
A fresh issue of up to Rs 180 crore and an offer to sell up to 1,72,36,808 equity shares are both included in the IPO.
RR Kabel IPO: Price Range
The RR Kabel IPO had a price range of Rs 983–1,035 per share. The issue might rise up to Rs 1,964 crore at the top of the price range.