RR cable, electrical equipment manufacturer plans to register DRHP with market regulator SEBI in May 2023 to launch its initial public offering (IPO). The company is backed by US-based private equity firm TGP Capital.
The company has engaged Axis, JM Financial, Citi Bank and HSBC as merchant bankers to manage the listing process. The wire, cable and Fast Moving Electrical Goods (FMEG) maker plans to go public between October and November next year.
The US private equity giant TGP Capital acquired the minority interest in RR Kabel for approximately Rs 650 crore and valued the company at approximately Rs 3,000-3,250 crore. The company is present in more than 90 countries. Therefore, the proposed IPO is likely to value the company at Rs 14000-15000 crore.
TGP Capital will sell around 10-11% of its stake in the company and the remainder will be a share issue.
If we talk about the company, it offers a range of high quality wires and cables for residential, commercial, industrial and infrastructure use. It also sells fans, lamps and household appliances. RR Kabel achieved sales of ₹4,800 crore in fiscal year 2022.
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