RR Kabel IPO: Shocking 15 Lesser-Known Facts Revealed
RR Kabel made a strong market entry with a 14 percent premium over its issue price on September 20.
Impressive IPO Debut
The stock began trading at Rs 1,180 on the NSE and Rs 1,179 on the BSE, surpassing its issue price of Rs 1,035.
Analysts had predicted a 10-15 percent premium due to robust subscription numbers and favorable equity market conditions.
Despite the premium, concerns were raised about RR Kabel's subdued financial performance, which could limit future stock growth.
The IPO received strong investor interest, with an overall subscription of 18.69 times.
Qualified institutional investors bid a whopping 52.26 times their allotted quota, reflecting high demand.
Institutional Investors' Enthusiasm
High net worth individuals and retail investors also showed interest, bidding 13.23 times and 2.13 times the reserved portion, respectively.
Retail and HNI Participation
RR Kabel successfully raised Rs 1,964.01 crore through the IPO, consisting of a fresh issue component and an offer for sale.
The IPO included shares sold by six shareholders, including the promoter Mahendrakumar Rameshwarlal Kabra and investor TPG Asia VII SF Pte Ltd.
RR Kabel made history by becoming the first company to list shares just two days after the IPO's closing, ahead of SEBI's mandated T+3 timeline.
Unique Listing Date
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