TPG Capital-backed wire and cable maker RR Kabel Ltd filed for an initial public offering (IPO) on Sunday.
TPG Capital-backed wire and cable maker RR Kabel Ltd filed for an initial public offering (IPO) on Sunday.
RR Kabel plans to raise up to Rs225 crore through the IPO, according to its draft prospectus filed with market regulator Sebi. The offering includes a new issue of shares with a total value of up to Rs. 2.25 crore and an offer to sell (OFS) of over 1.72 crore shares by promoters and other shareholders.
RR Kabel plans to raise up to Rs225 crore through the IPO, according to its draft prospectus filed with market regulator Sebi. The offering includes a new issue of shares with a total value of up to Rs. 2.25 crore and an offer to sell (OFS) of over 1.72 crore shares by promoters and other shareholders.
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The Company plans to use the funds raised through the IPO to repay or prepay some or all of the debt of banks and financial institutions.
Those selling shares in OFS include Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Private Ltd and Ram Ratna Wires Ltd.
Private equity firm TPG Asia VII SF Pte Ltd holds a 20.99% stake in RR Kabel and will sell part of its stake in the IPO.
RR Cable, part of RR Global Group, reported FY22 net profit of Rs.214 crore and revenue of Rs.4386 crore. For the nine months ended December 2022, the company reported net profit of Rs 125 crore and revenue of Rs 4,083 crore.
Axis Capital Ltd, HSBC Securities and Capital Markets (India) Private Ltd, Citigroup Global Markets India Private Ltd and JM Financial Ltd are the lead bookers for the IPO.
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