read on app
RR Cable IPO: If you are thinking of investing money in Initial Public Offering i.e. IPO, then a special opportunity is coming for you. From today i.e. from September 13, the IPO of consumer electrical products manufacturing company RR Kabel will be open for investment. Investors will be able to place bets in this issue till September 15. At the same time, it is opening for anchor investors today i.e. on 12th September.
What’s going on GMP?
According to market experts, today RR Cable IPO GMP i.e. gray market premium is Rs 218 per share. This means that RR Cable shares are trading at ₹218 more than their issue price in the gray market. This indicates a premium of 21.06% over the issue price of ₹1,035 per share. That means its possible listing price is Rs 1253.
SEBI was alerted on Adani Group’s irregularities, claims in court
What is the price band?
The price band of RR Cable IPO has been fixed at ₹983-1,035 per share. At the upper end of the valuation band, RR Cable aims to raise ₹1,964 crore from the IPO. The IPO comprises a fresh issue of equity shares worth ₹180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth ₹1,784 crore by promoters and investors. Let us inform that in OFS, TPG Asia VII SF Pte Ltd will sell 1.29 crore equity shares, while Ram Ratna Wires will sell its entire shareholding of 13.64 lakh shares.
