RR Kabel IPO has been subscribed 2.17 times on the last day of the bidding process

The RR Kabel initial public offering (IPO) began on September 13 and will conclude today, September 15. The initial public offering (IPO) of wires and cables maker RR Kabel has been completely subscribed.

RR Kabel has been a major participant in the Indian consumer electrical industry for over two decades, specializing in wires and cables (W&C) and fast-moving electrical goods (FMEG).

The company has reserved no more than 50% of the shares in the RR Kabel IPO for Qualified Institutional Buyers (QIB), 15% for Non Institutional Investors (NII), and 35% for Retail Investors.

In addition, the company has reserved 1.15 lakh shares for its employees, who are being offered shares at a price that is 98 rupees a share less than the final offer price.

On Friday, the third and last day of the bidding process, the RR Kabel IPO was subscribed to 2.17 times. According to NSE data, the public issuance got bids for 2.88 crore shares against 1.33 crore equity shares on offer.

The retail investors' portion was subscribed 1.24 times, the NII portion 3.50 times, and the employee portion 1.84 times. So far, the QIB quota has been subscribed to 2.80 times.