RR Kabel IPO date today. According to GMP, experts predict a list price with a “moderate” premium

The listing date for RR Kabel’s IPO has been set for September 20, 2023. As per the BSE notification, “With effect from Wednesday, September 20, 2023, the shares of RR KABEL LIMITED will be listed and admitted to trading on the Stock Exchange” Securities Group “B”. Pricing for RR Kabel’s IPO will be available at a special pre-open session at 10:00 a.m. during Wednesday’s offerings.

According to stock market experts, RR Kabel’s IPO received a lukewarm response from investors outside the QIB category. However, the public issue is expected to benefit from the ongoing uptrend on Dalal Street. They said that if the Indian stock market extends its rally for another session today, RR Kabel’s share price may trade at around 50% ₹1320, whereas in the case of a profit booking trigger, the quotation may have occurred at 1320 ₹1200 levels each. However, experts claimed that the list price of RR Kabel would be higher than the IPO price of RR Kabel ₹983 to ₹1035 per piece. They said that the book-build issue was valued at higher valuations and therefore the listing of RR Kabel shares could be done at a “moderate” premium.

Meanwhile, the gray market is also expecting a moderate listing of RR Kabel’s IPO. According to market observers, shares of RR Kabel are available at a premium of ₹103 on the gray market today. This means that RR Cable IPO is GMP (Gray Market Premium) today ₹103.

Experts assume the premiums will be moderate

Expecting a “moderate” listing of RR Kabel shares, Ravi Singhal, CEO, GCL Broking, said: “RR Kabel IPO will create history by listing on a T+2 trading day on Indian stock exchanges. However, the price for the public issue was higher valuations due to which the stock witnessed moderate demand in all categories except the QIB segment. We therefore assume that this will also be the case on the day of the listing. In the bears’ case, RR Kabel’s share price could start at around ₹1200, whereas in the case of the bulls, RR Kabel shares could trade at around 1200 ₹1320 levels each. So the stock could debut in between ₹1200 tons ₹The range is 1320 depending on market sentiment during the opening bell today.”

Expecting a positive listing from RR Kabel’s IPO, Prashanth Tapse, Senior Vice President – Research at Mehta Equities, said, “Despite the overpriced IPO offer and subdued financials, RR Kabel managed to sail with decent subscription demand, esp from the QIB segment, which was oversubscribed in the last day.” 52 times. Therefore, a decent premium listing of 8-10 percent is justified due to the optimism in the secondary market and taking into account all the immediate short-term growth triggers, leaving less scope for large-scale listing for new investors. On the red flag: Investors should also note that RR cable offerings were associated with higher OFS issuance (90% of fundraising), which is a concern and resulted in lower demand in the retail category.”

RR Cable IPO GMP today

As mentioned above, RR Cable IPO is GMP today ₹103, which means the gray market expects the price of RR Kabel’s IPO to be around 103 ₹1138 ( ₹1035+ ₹103), which is around 10 percent above RR Kabel’s IPO price range ₹983 to ₹1,035 each. This means that the gray market expects a listing profit of around 10 percent from the listing of RR Kabel.

Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not of Mint. We recommend that investors consult certified experts before making an investment decision.

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