Last Updated: May 08, 2023, 14:17 IST
US-based personal fairness agency TPG Capital, which holds a 21 per cent stake in RR Kabel, will partly promote its stake within the firm below the OFS.
The IPO includes a recent difficulty of fairness shares aggregating as much as Rs 225 crore and a suggestion on the market of over 1.72 crore fairness shares by promoters and different shareholders
TPG Capital-backed wires and cables producer RR Kabel Ltd has filed preliminary papers with capital markets regulator Sebi to lift funds by way of an preliminary public providing (IPO). The IPO includes a recent difficulty of fairness shares aggregating as much as Rs 225 crore and a suggestion on the market (OFS) of over 1.72 crore fairness shares by promoters and different shareholders, in accordance with the draft purple herring prospectus (DRHP).
Those promoting shares within the OFS are — Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Private Ltd, and Ram Ratna Wires Ltd.
Apart from these, US-based personal fairness agency TPG Capital, which holds a 21 per cent stake in RR Kabel, will partly promote its stake within the firm below the OFS. The firm proposes to utilise the online proceeds to the tune of Rs 170 crore from recent points to pare down, in full or partly, debt availed from banks and monetary establishments.
RR Kabel, a part of RR Global Group, posted a web revenue of Rs 214 crore and revenues of Rs 4,386 crore within the monetary yr 2021-22 (FY22). For the 9 months ended December 2022, the corporate reported a web revenue of Rs 125 crore and revenues of Rs 4,083 crore.
The agency is a number one firm within the Indian client electrical business comprising wires and cables and fast-moving electrical items. The firm additionally has one of many largest networks of electricians, protecting 1,47,810 electricians throughout India, as of FY22.
RR Kabel can also be the fastest-growing client electrical firm amongst its friends in India, rising at a CAGR of 33 per cent between FY20 and FY22. The agency had a market share of about 8 per cent in market worth in FY22. The similar stood at 5 per cent in FY15.
Axis Capital Ltd, HSBC Securities and Capital Markets (India) Private Ltd, Citigroup Global Markets India Private Ltd, and JM Financial Ltd are the book-running lead managers to the difficulty.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
(This story has not been edited by News18 workers and is printed from a syndicated information company feed)
