R R Kabel Ltd. makes a strong debut on the bourses with scrip got listed at Rs 1,179.00 on the Bombay Stock Exchange, a 13.91 per cent premium to its issue price of Rs 1,035.00. On the National Stock Exchange, the stock was listed at Rs 1,180.00.
The company, which raised 1.90 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 189.76 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Sep 13 to Sep 15.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company 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 managers & Link Intime India Private Limited is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 67,596.84, down 241.79 points, or 0.35 per cent.