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News Details

08/09/2023 11:40

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R R Kabel announces launch of initial public offering

R R Kabel Ltd. has announced public offering of 18975939 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 1,030.00 per share. The gross proceeds of the issue are expected to be Rs 1,96,400.97 lakhs.

The company's initial public offer (IPO) will open on 13 September 2023 and is expected to close on 15 September 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 983.00-1,035.00 per share.

The IPO includes a fresh Issue of 18975939 Equity Shares of the Company at an price of Rs 1,035.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 14 shares with bids in multiples of 14.

R R Kabel Ltd. anticipates using the proceeds of the issue for Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financialinstitutions General corporate purposes.

HSBC SECURITIES AND CAPITAL MARKETS (I) PVT LTD,Citigroup Global Markets India Pvt.Ltd.,Axis Capital Ltd.,JM Financial Limited as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.