On Wednesday, shares of R R Kabel Ltd, a manufacturer of wires and cables, were listed at a premium of 14% over their Rs 1,035 issue price. The stock began trading on the BSE at Rs 1,179, up 13.91% from the issue price. Later, it increased 15.75 percent to Rs 1,198.05.
It started trading at Rs 1,180 on the NSE, a premium of 14%. Early trading saw the company command a market value of Rs 12,979.23 crore. Within two days of the IPO’s conclusion, it was listed on the exchanges.
On Friday – the final day of subscriptions, 18.69 times were subscribed to the initial share offering of R R Kabel. The price range for the Rs 1,964 crore initial public offering (IPO) was Rs 983 to Rs 1,035 per share. The business operates five manufacturing facilities: a commercial lighting plant in Bengaluru, a cable and wire facility each in Waghodia, Gujarat, and Silvassa, Dadra and Nagar Haveli.
Additionally, it has fast-moving electrical goods facilities in Gagret, Himachal Pradesh, and Roorkee, Uttarakhand. Cables and wires account for about 88% of its sales. The RR Global Group company R R Kabel reported a net profit of Rs 214 crore and revenue of Rs 4,386 crore for 2021–2022.
