RR Kabel Listing Highlights: Shares list at premium of 14%; check target price, other details
RR Kabel IPO Listing Highlights: RR Kabel, which concluded its IPO on Friday, is the first company to debut on Dalal Street within two days of issue closing.
RR Kabel IPO Listing Highlights: Shares of consumer electrical products company RR Kabel made a decent debut on the bourses today i.e. September 20. The shares began trading at Rs 1,180 on the Bombay Stock Exchange (BSE). This is a premium of around 14 per cent against the issue price of Rs 1,035.
RR Kabel, which concluded its IPO on Friday, is the first company to debut on Dalal Street within two days of issue closing.
Meanwhile, RR Kabel's share price went above Rs 1,200 before settling at Rs 1,196.65 on the National Stock Exchange (NSE) on the first day of its listing.
RR Kabel IPO Listing Highlights:
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RR Kabel IPO Listing: Shares over Rs 1,200
Meanwhile, RR Kabel's share price went above Rs 1,200 before settling at Rs 1,196.65 on the National Stock Exchange (NSE) on the first day of its listing.
RR Kabel IPO Listing LIVE: Company’s focus is to minimise losses
RR Kabel has amalgamated Ram Ratna Electricals, acquired LED lights business of Arraystorm and home electrical business of Luminous Power to build its portfolio in FMEG. Company’s focus is to minimise losses in FMEG business in coming years.
RR Kabel IPO Listing LIVE: 9% market share
RR Kabel is a prominent player in India's wire and cable export with around 9 per cent market share. Its robust network of 72 distributors is spread across key regions like North America, Asia Pacific, Europe, and the Middle East.
RR Kabel IPO Listing LIVE: Extensive distribution network
RR Kabel products are currently being sold through 3,405 distributors & 3,656 dealers covering 114,851 retailers.
RR Kabel IPO Listing LIVE: RR Kabel share price target
Brokerage firm Prabhudas Lilladher has given a 'buy' rating for RR Kabel with a target price of Rs 1,407 valuing at 35x FY25 earnings.
RR Kabel IPO Listing LIVE: Decent listing for RR Kabel
The stock of RR Kabel began trading at Rs 1,181 on the National Stock Exchange (NSE). This is a 14.11 per cent premium to its IPO price of Rs 1,035.
RR Kabel IPO Listing LIVE: Shares list at premium of 14% on BSE
Shares of RR Kabel are listed at a premium of 14 per cent on the Bombay Stock Exchange (BSE). The shares were listed at Rs 1,179 against the issue price of Rs 1,035.
RR Kabel IPO Listing LIVE: Fastest growing player in the segment
According domestic brokerage firm Prabhudas Lilladher Research, RR Kabel is a fastest-growing player in the wire and cable segment with a reported revenue CAGR of nearly 40% in W&C vs peers of nearly 30% over FY21-23.
RR Kabel IPO Listing LIVE: RR Kabel's net profit in FY22
RR Kabel, a part of the RR Global Group, had a net profit of Rs 214 crore on a revenue of Rs 4,386 crore in FY22.
RR Kabel IPO Listing LIVE: Company to utilise proceeds towards funding of repayment
The company proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the company from banks and financial institutions estimated to be Rs 170 crore.
RR Kabel IPO Listing LIVE: IPO subscribed 18.69 times
The IPO of RR Kabel received a decent response from investors. The IPO got an overall subscription at 18.69 times. All the categories were fully subscribed, led by institutional investors (52.26x). The retail part was the least subscribed at 2.13x.
RR Kabel IPO Listing LIVE: Positives and Negatives of the company
Positives:
- Experienced management
- Strong leadership and brand
- Impressive revenue growth
- Strong financials
Negatives:
- Family owned business
- Margins lowest among peers
- Capacity utilisation is already near 75 per cent
- Valuations are not very attractive
RR Kabel IPO Listing LIVE: Cable and wires major source of revenue
Also, it has a fast-moving electrical goods unit at Roorkee in Uttarakhand and another at Gagret in Himachal Pradesh. A total of 88 per cent of its revenue comes from cables and wires.
RR Kabel IPO Listing LIVE: RR Kabel runs five manufacturing units
The TPG-backed firm runs five manufacturing units - one cable and wire unit each at Waghodia in Gujarat and at Silvassa in Dadra and Nagar Haveli, besides a commercial lighting plant in Bengaluru.
RR Kabel IPO Listing LIVE: QIBs got subscribed 52.26 times
The category for Qualified Institutional Buyers (QIBs) got subscribed 52.26 times. The quota for non-institutional investors attracted 13.23 times subscriptions while the portion for retail individual investors was subscribed 2.13 times.
RR Kabel IPO Listing LIVE: What does RR Kabel do?
Incorporated in 1995, RR Kabel is a conglomerate operating in the electrical sector, offering a range of products used for residential, commercial, industrial and infrastructure purposes. RR Kabel broadly operates in two segments: wires and cables, and fast-moving electrical goods.
RR Kabel IPO Listing LIVE: Listing preview by Anil Singhvi
According to Zee Business Managing Editor Anil Singhvi, shares of RR Kabel are expected to list around Rs 1,100-1,125 range against the issue price of Rs 1035. Singhvi had earlier advised investors to apply for the IPO for the long term.
RR Kabel IPO Listing LIVE: Issue size of Rs 180 crore
RR Kabel's IPO comprised a fresh issue size of Rs 180 crore and an offer-for-sale segment of up to 1.72 crore equity shares.RR Kabel IPO Listing LIVE: RR Kabel to be listed under 'B' Group of Securities
"Trading members of the exchange are hereby informed that effective from Wednesday, September 20, the equity shares of RR Kabel Ltd shall be listed and admitted to dealings on the exchange in the list of 'B' Group of Securities," according to a circular issued by the BSE.
RR Kabel IPO Listing LIVE: New timeline for listing of shares
The new listing timeframe will be voluntary for all public issues opening on or after September 1 and mandatory for all issues after December 1, 2023.
RR Kabel IPO Listing LIVE: Sebi halved timeline for listing of shares
Earlier in August, capital markets regulator Sebi had halved the timeline for listing of shares on stock exchanges after the closure of IPOs. Earlier the timeline was six days (T+6) and it was reduced to three days (T+3).
RR Kabel IPO Listing LIVE: First company to debut within two days of issue closing
RR Kabel is the first company to debut on Dalal Street within two days of issue closing. Ratnaveer Precision Engineering was the first company to list under the T+3 regime.
RR Kabel IPO Listing LIVE: RR Kabel IPO concluded on Friday
RR Kabel concluded on Friday. The IPO of the company comprised a fresh issue size of Rs 180 crore and an offer-for-sale (OFS) segment of up to 1.72 crore equity shares.
RR Kabel IPO Listing LIVE: Listing today
Welcome to Zee Business LIVE Blog on RR Kabel IPO listing. We will give you all the LIVE updates on the IPO listing of the wires and cables manufacturer company.
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