RR Kabel IPO subscribed 25% on day 1, price band at Rs 983 to Rs 1,035

RR Kabel’s initial public offering (IPO) garnered 25 per cent subscription on Wednesday. Most of the bids on the first day came from retail and high networth individuals. The TPG-backed company has set the price band for its IPO at Rs 983 to Rs 1,035 per share. At the upper end, the issue size works out to Rs 1,964 crore, making it the second-largest IPO of the year after Mankind Phar­ma. The fresh issue component of the IPO is only Rs 180 crore and the remaining is secondary share sale by promoters and TPG. The company, a leading manufacturer of wires and cables, will be valued at Rs 11,676 crore at the top-end of the price band.

Emkay asset management arm appoints Manish Sonthalia as CIO

Emkay Investment Managers, the asset management arm of Emkay Global Financial Services, has appointed Manish Sonthalia as its chief investment officer (CIO). Sonthalia joins the Emkay group from Motilal Oswal Asset Management Company where he has served as an executive director and CIO for portfolio management services, alternates and offshore investments.