RR Kabel IPO subscribed 1.4 times, Lukewarm response for Zaggle Prepaid

RR Kabel subscribed 1.4 times on Day 2
 

The initial public offering (IPO) of RR Kabel was subscribed 1.4 times on Thursday, the second day of the issue. The institutional investor portion was subscribed 1.6 times, the wealthy investor portion 2.10 times, the retail investor portion 0.95 times and the portion reserved for employees 1.51 times. The company has priced its IPO between Rs 983 and Rs 1,035 per share. The Rs 1,964 crore IPO comprises a fresh issue of Rs 180 crore and an offer for sale of Rs 1,784 crore. The company is into manufacturing, marketing and selling of wires and cables, including house wires, industrial wires, power cables and special cables, fans, lighting, switches and appliances. Earlier this week, the company had raised Rs 585 crore from anchor investors.

Lukewarm response for Zaggle Prepaid on Day 1
 

The IPO of Zaggle Prepais Ocean Services was subscribed 19 per cent on Thursday, the first day of its issue. The institutional investor portion remained unsubscribed, the wealthy investor portion was subscribed 11per cent, and the retail investor portion 87per cent. The Rs 563 crore IPO has been priced between Rs 156 and 164 per share. The company has raised Rs 253 crore from anchor investors. Zaggle is a software as a service (SaaS) company which operates in the spend management space.

Not many buyers for Samhi Hotels on opening day

The IPO of Samhi Hotels was subscribed 7 per cent on Thursday, the first day of its issue. The institutional investor portion was unsubscribed, the wealthy investor portion 2per cent, and the retail portion 34per cent. The company had raised Rs 616 crore from anchor investors. The IPO has been priced between Rs 119 and Rs 126 per share. The Rs 1,370 crore IPO comprises a fresh issue portion of Rs 1,200 crore and an offer for sale of Rs 170 crore.

Sai Silks sets price band of Rs 210-222

Ethnic apparel retailer Sai Silks (Kalamandir or SSKL) on Thursday fixed a price band of Rs 210-222 per share for its Rs 1,201 crore initial public offering, which will open on September 20. At the upper end of the price band, the IPO will fetch about Rs 1,201 crore. The bidding for the anchor investors will open on September 18. Investors can bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter, the company said. (PTI)

Stock exchanges provide safeguards from outages 
 

Brokerages facing technical glitches or outages will now be able to allow their clients to exit or square off their outstanding positions through a common platform. Stock exchanges in a circular on Thursday said the platform will be accessible to trading members (TMs) across exchanges starting from October 3. “To ensure seamless bus­iness continuity, TMs are advised to maintain an updated Disaster Recovery (DR) site. However, if both the primary and DR sites are affected and regular business cannot be conducted, affected investors can exit or square off their outstanding positions using a common platform under the guidelines of IRRA,” the NSE said in a circular.