“Trading Members of the Exchange are hereby informed that effective from Wednesday, September 20, 2023, the equity shares of R R KABEL LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘B ‘ Group of Securities”, the Bombay Stock Exchange said on its website.

The IPO has a fresh issue of up to ₹180 crore and an offer for sale of up to 1,72,36,808 equity shares. The price band of the share has been set between ₹983-1,035 per share. At the upper end of the price band, the issue will fetch up to ₹1,964 crore.

The company runs five manufacturing units – one each cable and wire units in Waghodia in Gujarat and in Silvassa in the Union Territory of Dadra and Nagar Haveli, and a commercial lightings plant in Bengaluru and one each fast moving electrical goods (FMEG) units in Roorkee in Uttarakhand and Gagret in Himachal Pradesh. As much as 88 per cent of its revenue comes from cables and wires.

The company proposes to utilise ₹136 crore of the net proceeds from the fresh issue to pare down debt.

RR Kabel, a part of the RR Global Group, had a net profit of ₹214 crore on a revenue of ₹4,386 crore in FY22.

Axis Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India) and JM Financial are the managers to the offer.

Grey Market Premium

According to a Mint, report, the GMP of RR Kabel IPO is ₹103. It means that the listing price would be around ₹1,138, that is 10 per cent higher than the price band.

(With PTI inputs)