RR Kabel IPO listing date today. GMP, experts predict listing price at 'moderate' premium | Mint
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Business News/ Markets / Ipo/  RR Kabel IPO listing date today. GMP, experts predict listing price at 'moderate' premium
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RR Kabel IPO listing date today. GMP, experts predict listing price at 'moderate' premium

RR Kabel IPO GMP today: Shares of the company are available at a premium of ₹103 in grey market today, say market observers

RR Kabel IPO listing date has been fixed on 20th September 2023. (Photo: Courtesy company website)Premium
RR Kabel IPO listing date has been fixed on 20th September 2023. (Photo: Courtesy company website)

RR Kabel IPO listing date has been fixed on 20th September 2023. As per the BSE notice, "effective from Wednesday, September 20, 2023, the equity shares of R R KABEL LIMITED shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." RR Kabel IPO listing price would become available at 10:00 AM during Wednesday deals in special pre-open session.

According to stock market experts, RR Kabel IPO received moderate response from investors in categories other than QIB. However, the public issue is expected to benefit from the bull trend continuing on Dalal Street. They said that in case the Indian stock market extends its rally for yet another session today, we may see RR Kabel share price listing at around 1320 whereas in case of profit-booking trigger, the listing may took place around 1200 apiece levels. But, experts maintained that RR Kabel listing price would be higher than RR Kabel IPO price of 983 to 1035 apiece. They said that the book build issue was priced at higher valuations and hence listing of RR Kabel shares may take place at 'moderate' premium.

Meanwhile, grey market is also expecting moderate listing of RR Kabel IPO. According to market observers, shares of RR Kabel are available at a premium of 103 in grey market today. This means RR Kabel IPO GMP (grey market premium) today is 103.

Experts predict moderate premium

Expecting 'moderate' listing of RR Kabel shares, Ravi Singhal, CEO at GCL Broking said, "RR Kabel IPO is going to create history by listing on Indian bourses on a T+2 trading day. However, the public issue was priced at higher valuations due to which the stock received moderate demand in all categories except QIB segment. So, we are expecting to happen that on the listing date as well. In bears' case, RR Kabel share price may open at around 1200 whereas in bulls' case, RR Kabel shares may list at around 1320 apiece levels. So, the share may debut in between 1200 to 1320 range depending upon the market sentiments during opening bell today."

Expecting positive listing of RR Kabel IPO, Prashanth Tapse, Senior Vice President — Research at Mehta Equities said, "Despite overpriced IPO offer and subdued financials RR kabel managed to sail with decent subscription demand especially from QIB segment which got over subscribed on last day by 52 times. Hence a decent premium listing of 8-10 per cent is justified due secondary market optimism and discounting all immediate near term growth triggers, leaving lesser room for hefty listing for new investor on listing. On red flag Investors should also note that RR kabel offers had come with higher OFS issue (90% of fund raise) which is an area of concern resulted in lower demand under retail category."

RR Kabel shares are now listed. Check here how the debut was -RR Kabel share price debuts at 14% premium at 1,180 on NSE

RR Kabel IPO GMP today

As mentioned above, RR Kabel IPO GMP today is 103, which means, grey market is expecting that RR Kabel IPO listing price would be around 1138 ( 1035 + 103), which is around 10 per cent higher from RR Kabel IPO price band of 983 to 1,035 apiece. This means, grey market is expecting around 10 per cent listing gain from RR Kabel IPO listing.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 20 Sep 2023, 06:56 AM IST
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