Bookbuilding IPO | ₹1,964 Cr | Listed at BSE, NSE | Wed, Sep 13, 2023 - Fri, Sep 15, 2023
R R Kabel IPO is a book build issue of ₹1,964.01 crores. The issue is a combination of fresh issue of 0.18 crore shares aggregating to ₹181.03 crores and offer for sale of 1.72 crore shares aggregating to ₹1,782.98 crores.
R R Kabel IPO bidding started from Sep 13, 2023 and ended on Sep 15, 2023. The allotment for R R Kabel IPO was finalized on Sep 21, 2023. The shares got listed on BSE, NSE on Sep 20, 2023.
R R Kabel IPO price band is set at ₹1,035 per share. The lot size for an application is 14. The minimum amount of investment required by an retail is ₹14,490 (14 shares) (based on upper price). The lot size investment for sNII is 14 lots (196 shares), amounting to ₹2,02,860, and for bNII, it is 70 lots (980 shares), amounting to ₹10,14,300.
The issue includes a reservation of up to 1,15,261 shares for employees offered at a discount of ₹98.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to R R Kabel IPO RHP for detailed Information.
IPO Open
Wed, Sep 13, 2023
IPO Close
Fri, Sep 15, 2023
Issue Price
₹1035 per share
Market Cap (Pre-IPO)
₹11,675.63 Cr
| IPO Date | 13 to 15 Sep, 2023 |
| Listed on | Wed, Sep 20, 2023 |
| Face Value | ₹5 per share |
| Price Band | ₹983 to ₹1035 |
| Issue Price | ₹1035 per share |
| Lot Size | 14 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹98.00 |
| Total Issue Size | 1,89,86,713 shares (agg. up to ₹1,964 Cr) |
| Fresh Issue | 17,50,031 shares (agg. up to ₹181 Cr) |
| Offer for Sale | 1,72,36,682 shares of ₹5 (agg. up to ₹1,783 Cr) |
| Share Holding Post Issue | 9,74,35,427 shares |
| BSE Script Code / NSE Symbol | 543981 / RRKABEL |
| ISIN | INE777K01022 |
R R Kabel IPO offers total 1,89,86,851 shares. Out of which 94,35,794 (49.70%) allocated to QIB, 37,77,593 (19.90%) allocated to QIB (Ex- Anchor), 28,30,739 (14.91%) allocated to NII 66,05,057 (34.79%) allocated to RII and 56,58,201 (29.80%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 94,35,794 (49.70%) | NA |
| − Anchor Investor Shares Offered | 56,58,201 (29.80%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 37,77,593 (19.90%) | NA |
| NII (HNI) Shares Offered | 28,30,739 (14.91%) | NA |
| − bNII > ₹10L | 18,87,159 (9.94%) | 9,628 |
| − sNII < ₹10L | 9,43,580 (4.97%) | 4,814 |
| Retail Shares Offered | 66,05,057 (34.79%) | 4,71,789 |
| Employee Shares Offered | 1,15,261 (0.61%) | NA |
| Total Shares Offered | 1,89,86,851 (100.00%) |
Investors can bid for a minimum of 14 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,490 |
| Retail (Max) | 13 | 182 | ₹1,88,370 |
| S-HNI (Min) | 14 | 196 | ₹2,02,860 |
| S-HNI (Max) | 69 | 966 | ₹9,99,810 |
| B-HNI (Min) | 70 | 980 | ₹10,14,300 |
R R Kabel IPO raises ₹585.62 crore from anchor investors. R R Kabel IPO Anchor bid date is September 12, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 12, 2023 |
| Shares Offered | 56,58,201 |
| Anchor Portion (₹ Cr.) | 585.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 21, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 20, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1995, R R Kabel Limited provides consumer electrical products used for residential, commercial, industrial, and infrastructure purposes.
R R Kabel has two broad segments:
The company undertakes the manufacturing, marketing, and sale of wires and cable products under 'RR Kabel' brand, and fans and lights under the 'Luminous Fans and Lights' brand.
In 2020, R R Kabel acquired Arraystorm Lighting Private Limited and obtained light emitting diode (LED) lights and related hardware business (LED Lights Business) along with its trademarks and design certificates, to expand their portfolio to cover office, industrial, and warehouse spaces. In 2022, the company acquired the home electrical business (HEB) of Luminous Power Technologies Private Limited, and obtained a limited and exclusive license to use the Luminous Fans and Lights brand for fan and light products for a maximum period of four years with a one-time option to further renew the license for a period of three months and, that includes a right to use 61 registered trademarks, and a portfolio of lights and premium fans, to strengthen our FMEG portfolio.
The company has two manufacturing units located at Waghodia, Gujarat, and Silvassa, Dadra and Nagar Haveli, and Daman and Diu which primarily carry out manufacturing operations of wire and cables and switches. Apart from that, it owns and operates three integrated manufacturing facilities which are located at Roorkee, Uttarakhand; Bengaluru, Karnataka; and Gagret, Himachal Pradesh, which carry out manufacturing operations in respect of FMEG products.
R R Kabel's clientele comes from both the domestic market and international markets. In the last three months ending June 30, 2023, 71% of its revenue from operations came from the wires and cables segment; and 97% of the revenue from operations came from the FMEG segment, from the B2C channel.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 2,633.62 | 2,050.64 | 1,715.11 | 1,545.36 |
| Total Income | 5,633.64 | 4,432.22 | 2,745.94 | 2,505.54 |
| Profit After Tax | 189.87 | 213.94 | 135.40 | 122.40 |
| NET Worth | 1,390.47 | 1,237.05 | 1,033.38 | 875.07 |
| Reserves and Surplus | 914.15 | 781.31 | 594.93 | 459.23 |
| Total Borrowing | 515.84 | 521.11 | 498.71 | 395.29 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions; and | 136.00 |
| 2 | General corporate purposes | 34.24 |
| KPI | |
|---|---|
| ROE | 14.22% |
| ROCE | 15.57% |
| Debt/Equity | 0.36 |
| RoNW | 13.66% |
| PAT Margin | 3.37% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 17.09 | |
| P/E (x) | 39.26 | |
| Promoter Holding | 66.42% | 62.77% |
| Market Cap | ₹11,675.63 Cr. |
The R R Kabel IPO is subscribed 18.69 times on September 15, 2023 7:02:00 PM (Day 3). The public issue subscribed 2.13 times in the retail category, 52.26 times in the QIB category, and 13.23 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 52.26 | 37,72,137 | 19,71,19,622 |
| NII | 13.23 | 28,29,102 | 3,74,30,694 |
| bNII (bids above ₹10L) | 15.68 | 18,86,068 | 2,95,76,764 |
| sNII (bids below ₹10L) | 8.33 | 9,43,034 | 78,53,930 |
| Retail | 2.13 | 66,01,237 | 1,40,38,192 |
| Employee | 2.69 | 1,15,261 | 3,09,820 |
| Total | 18.69 | 1,33,17,737 | 24,88,98,328 |
Total Application : 8,62,035
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs' fees including underwriting commission, brokerage and selling commission, as applicable | 52.14 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks, Bankers to the Offer and fee payable to the Sponsor Bank for Bids made by RIBs and Eligible Employees. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (2)(3)(4)(5) | 6.17 |
| 3 | Fees payable to the Registrar to the Offer | 0.00 |
| 4 | Fees payable to other parties, including but not limited to Statutory Auditors, Independent Chartered Accountant, industry expert and Independent Chartered Engineer | 10.63 |
| 5 | Others - Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 6.91 |
| 6 | Others - Printing and distribution of issue stationery | 3.84 |
| 7 | Others - Advertising and marketing expenses | 12.47 |
| 8 | Others - Fees payable to legal counsels | 9.49 |
| 9 | Others - Miscellaneous | 4.89 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹1,035.00 | ₹1,035.00 |
| Open | ₹1,179.00 | ₹1,180.00 |
| Low | ₹1,137.60 | ₹1,136.80 |
| High | ₹1,212.80 | ₹1,212.70 |
| Last Trade | ₹1,196.65 | ₹1,198.05 |
Lead Manager Reports
R R Kabel IPO is a main-board IPO of 1,89,86,713 equity shares of the face value of ₹5 aggregating up to ₹1,964 Crores. The issue is priced at ₹1035 per share. The minimum order quantity is 14.
The IPO opens on Wed, Sep 13, 2023, and closes on Fri, Sep 15, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in R R Kabel IPO using UPI as a payment gateway. Zerodha customers can apply in R R Kabel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in R R Kabel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The R R Kabel IPO opens on Wed, Sep 13, 2023 and closes on Fri, Sep 15, 2023.
R R Kabel IPO lot size is 14, and the minimum amount required for application is ₹14,490.
You can apply in R R Kabel IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for R R Kabel IPO will be done on Thursday, September 21, 2023, and the allotted shares will be credited to your demat account by Mon, Sep 25, 2023. Check the R R Kabel IPO allotment status.
The R R Kabel IPO listing date is on Wed, Sep 20, 2023.
