RR Kabel IPO allotment out: Check the application status, GMP, potential listing date

RR Kabel has finalized the basis of allotment of its shares and the allotment status has been announced. The company is said to have a T+3 listing. Investors who made the bids for the issue can check their application status via two methods - through exchange and registrar of the company.

Axis Capital, Citigroup Global Markets India, HSBC Securities & Capital Markets and JM Financial are book running lead managers to the issue, while Link Intime India has been appointed as the registrar for the issue. Shares of the company will be listed at both BSE and NSE on Wednesday, September 20.

Allotment Status: Through exchange

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select RR Kabel Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Allotment Status: Through registrar
Investors can also check the allotment status on the online portal of Link Intime India Private Limited. (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

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Grey market premium
Grey market premium (GMP) of RR Kabel has seen a sharp correction due to muted subscription levels, mixed reviews by analysts and aggresive pricing for the issue. Last heard, the company is commanding a premium of Rs 105-110 per share over its issue price in the unofficial market, which was around Rs 300-310 at the announcement of issue and dropped to Rs 250 when issue opened.

Issue details
RR Kabel sold its shares in the range of Rs 983-1,035 apiece during the three-day bidding process, which was between September 13-15 and investors could make a bid of a minimum of 14 equity shares and its multiples thereafter. The Rs 1,964 crore issue included a sale of fresh equity shares worth Rs 180 crore, while an offer-for sale (OFS) of up to 17.34 lakh equity shares.

Subscription status
The issue was overall subscribed 18.69 times. The allocation for qualified institutional bidders (QIBs) was booked 52.26 times, while the portion for non-institutional investors fetched 13.23 times bids. The portion reserved for retail investors was booked 2.13 times at the end of the third day of bidding.

About RR Kabel
Incorporated in 1995, RR Kabel provides consumer electrical products used for residential, commercial, industrial, and infrastructure purposes in two major segments, namely wires and cables including house wires, industrial wires, power cables, and special cables; and FMEG including fans, lighting, switches, and appliances.

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