RR Kabel IPO off to slow start on Day 1; Should you subscribe?

The company plans to raise up to Rs 1,964 crore from its maiden share sale in the price band of Rs 983 - Rs 1,035. Offer closes on Friday.

RR Kabel logo (Photo: RR Kabel facebook page)
Web Exclusive Premium

RR Kabel logo (Photo: RR Kabel facebook page)

Rex Cano Mumbai

Listen to This Article

RR Kabel IPO opened for subscription on Wednesday. The company plans to mop-up Rs 1,964 crore from the public float by offering 18.98 million shares, which includes fresh issue of 1.74 million shares, in the price band of Rs 983 - Rs 1,035. The offer closes on Friday, September 15, 2023, and the stock is expected to be listed on September 26, 2023.

Anchor investors picked up 5.66 million shares for a consideration of Rs 585.62 crore on Tuesday.

RR Kabel is a prominent player in the fast-moving electrical goods segment with a history of over 20 years. It also specializes in wires and cables. The company competes against the likes of Havells India, Polycab, KEI Industries, Finolex Cables and Crompton Greaves

First Published: Sep 13 2023 | 2:03 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com