RR Kabel IPO off to slow start on Day 1; Should you subscribe?

The company plans to raise up to Rs 1,964 crore from its maiden share sale in the price band of Rs 983 - Rs 1,035. Offer closes on Friday.

RR Kabel IPO opened for subscription on Wednesday. The company plans to mop-up Rs 1,964 crore from the public float by offering 18.98 million shares, which includes fresh issue of 1.74 million shares, in the price band of Rs 983 - Rs 1,035. The offer closes on Friday, September 15, 2023, and the stock is expected to be listed on September 26, 2023.

Anchor investors picked up 5.66 million shares for a consideration of Rs 585.62 crore on Tuesday.

RR Kabel is a prominent player in the fast-moving electrical goods segment with a history of over 20 years. It also specializes in