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R R Kabel shares listed on NSE and BSE, investors got 14 percent profit
R R Kabel Share Price: The listing of shares of wire and cable company RR Kabel took place on Wednesday. RR Cable is the first IPO whose listing took place within three days of the closing of the subscription. The IPO size of RR Cable was Rs 1964 crore. It got 18.7 times subscription.
R R Kabel's shares were listed on the stock market on Wednesday at Rs 1180 with a premium of 14 percent compared to its issue price of Rs 1035. RR Cable is the first IPO whose listing took place within three days of the closing of the subscription. Earlier, any IPO was listed within T+6 i.e. within six days of the closing of the IPO.
Speaking to news agency ANI, Anubhuti Mishra, Equity Research Analyst, Swastika Investment Limited, said that RR Kabel became the first IPO to be listed under 'T+3'. He further said that despite high valuation and most of the IPOs being OFS, this issue got a good response from the market and it was subscribed 18.69 times.
Mishra further said that investors should exit after booking the profits made during the listing. At the same time, those who want to hold it can do so by setting a stop loss of Rs 1,065.
